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Farylrobin Footwear again named as fastest-growing private cos.
Aug '08
In a year when the women's fashion businesses have struggled, Farylrobin Footwear continues to be one of the fastest-growing private companies in America. For the second year running, the women's fashion footwear brand has been named to Inc. magazine's prestigious Inc. 5000 list, ranking at No. 2,539, posting phenomenal sales, while many larger competitors struggle to keep pace. Farylrobin has also made the top 115 of America's fastest growing consumer product companies.

Launched in 2002 by designer and female entrepreneur Faryl Robin Morse, the brand credits its success to serving women's needs for bold, sophisticated designs and its strategic position in a crowded market. Farylrobin has a major presence at national retailers such as Bloomingdale's, Nordstrom, Belk and Anthropologie.

The footwear is also sold at more than 200 boutiques nationwide, including Los Angeles' Kitson and Chicago's City Soles, The Shoe Box in New York, and online at ShopBop.com, Zappos.com, Endless.com and Macys.com. Farylrobin has seen its revenue grow 144.5% from 2004 to 2007.

Making the Inc. list is also a personal coup for Morse, who has succeeded as a female entrepreneur in the historically male-dominated footwear industry. In fact, Morse is among a very elite faction of entrepreneurs as according to the most recent figures from the U.S. Small Business Association, women-owned businesses accounted for nearly 28.2 percent (6.5 million) of all U.S. firms, but of those, just 117,069 make more than $1 million a year. With her company on target to reach sales of nearly $5 million in 2008, Morse has proven herself an adept businesswoman across all industries, not just footwear.

“Being named to this list for the second straight year is an honor we are so proud to receive,” says Morse. “We always aim for a trifecta with our customers – to create a beautiful product that is high in quality and at a price that doesn't offend.

We think we scored that again this year, as even in this uncertain economy, our customers have returned to us in spades. They see our product as an investment that will last more than one season, and most rewarding to me is that our shoes make them feel confident as they step out into an uncertain world.”

The brand can also thank a smart Web expansion strategy for its recent success. ShopBop.com, Shoes.com, and Macys.com all began selling the Farylrobin brand during 2008. In October, Farylrobin will open its own Web store at Farylrobin.com enabling customers to purchase styles that they were not able to find at their preferred stores.

Morse has also embraced social networking sites as a way to communicate information to consumers directly, employing the use of a blog to not only keep fans updated with news about each season's collections, but also as a portal to the inside workings of the company. Farylrobin is plugged into Facebook and MySpace, as well, which has everything from the newest footwear collections to the designer's travel schedule.

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Courtesy: ITMA 2015

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