Local shoe care retailer, The Sneaker Shack, sees annual YoY growth of 50%. For centuries, shoes have been a necessity due to the protection that they offer from the elements. In modern times, they have gained popularity in allowing people to express their sense of style and display their social status which can be corroborated by global figures: The revenue in the global footwear segment alone is projected to reach over R6 trillion by 2026, showing an annual growth rate of 2.3%.
Whilst the footwear industry continues to boom, there is a clear rise in sustainability-orientated generations who are looking to reduce their impact on the environment and choose to upcycle or reuse to avoid further manufacturing.
How do they achieve this? Enter the shoe care market.
With its own impressive statistics, and as a relatively new concept, the shoe care market is expected to witness market growth at a rate of 3% in the forecast period of 2022 to 2028, with a projected value of R 82 billion by 2028.
Lolo Ndlovu, Founder of the largest sneaker care retail chain in South Africa, The Sneaker Shack weighs in: “The rise of shoe care, especially in South Africa, can be seen by the growth of the local industry where The Sneaker Shack is the largest by geographic footprint . To-date, we have launched over eight stores nationwide, and are looking to open another 3 by the end of 2022. This growth can be directly credited to the business meeting the modern, eco-conscious customer’s needs.”
What started as a business with a niche in sneaker care, soon expanded to offering the full spectrum of footwear care to include anything from boots, to high heels to trainers and more. “We adapted our business model and offering based on the continuous and steady growth of the footwear industry in South Africa, despite recent tough economic times. The growth over the past seven years has afforded us the opportunity to employ young, top-quality individuals looking to make a difference in the shoe care space and we are proud of this collective growth and achievement”, concludes Ndlovu.
With a goal to reduce the amount of footwear that reaches landfills each year, The Sneaker Shack’s expansion plans ensures that sustainability will be of ease for all footwear owners nationwide. The next store launch is scheduled for June at Harvest Place in Kempton Park.
For more information on The Sneaker Shack, visit www.thesneakershack.co.za
About The Sneaker Shack
Established in 2015, The Sneaker Shack identified a need within the sneaker community, across the board, from collectors to active lifestyle individuals to have their sneakers cleaned by trained professionals using established premium cleaning solutions.
The business has expanded their offering to include the full spectrum of footwear from sneakers, through to active and leisure shoes, boots, high heels, sandals, children’s shoes, luggage and accessories. They provide professional footwear cleaning by trained footwear care technicians within a 48 hour turnaround time.
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