Monday 22 June 2020

You May,

or may not of heard of Heelys,


it is a shoe that has a wheel in the heel, so that you could just raise your toe and ride them like skates, the the product was launched at the Action Sports Retailer Trade Show in San Diego in 2000, sitting at a booth made from card tables and a couple signs, Staffaroni and sales rep Gary Golden armed themselves with printed out Excel sheets and credit forms, anything to make it “at least look like we were in business and ready to go.” They hoped by the end of the convention they’d leave with a few sales scribbled down,

from that humble beginning the company according to a filing with the SEC, in 2003 Heelys saw a gross profit of $6.6 million in 2003, $6.8 million in 2004 and $15 million in 2005. In the first nine months of 2006, 3.9 million pairs of Heelys sold in 50 countries for a gross profit of $40.5 million! And then it all went wrong, well except for perhaps Roger Adams, who allegedly pocketed the $26.3 million he gained from the IPO and reportedly disappeared, Heelys succeeded beyond their wildest dreams, but the company fell just as fast as it rose, for a good read have a look here at how that happened at Mel magazine.


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