Wayne Edy
person on 1 show · 13 statements across 1 episodes
On the record as a speaker too: Wayne Edy across every show, appearances and statements → this page counts the times other people say the name.
13 statements about Wayne Edy, every show
Edy: inov-8's niche running markets cannot support its full growth potential
“I think we've got a long way to go, actually, because we're well known in the small niche markets, but actually they're not big enough to grow the brand to its full potential.”
Edy repurchased inov-8 from Descente in 2020 during the COVID-19 outbreak
“In 2020, I bought back the business and actually signed all the paperwork. At one of the most difficult times, because COVID had just hit Asia and was spreading across.”
Edy's Descente deal structured a 5-year dilution to zero
“Over five years they wanted me to dilute down to zero.”
Edy: inov-8 was probably more profitable under founder ownership than private equity
“No, I wouldn't say so, actually. I think the business was probably more profitable when I was CEO and in ownership of the business because it, you know, I always looked at the longer term best for the brand, but I was very careful with the money because that w…”
Edy: Private equity acquired a 42% stake in inov-8
“I was still the major shareholder of the business, so they took, yeah, 42%.”
Edy: Manufacturing factory demanded upfront payment on orders in 2008
“The factory that we were working with changed our terms to when we actually placed the orders.”
Wayne Edy: inov-8 turned profitable in 2005, two years after founding
“So it would have been two years in, so 2005, and that's when I managed to negotiate the bank facility for that quarter of a million pounds.”
Edy: Over 70% of fell race runners wear inov-8 shoes
“And you know, today, if you go to a fell race, there's probably 70, 75% plus people are wearing Innovate shoes at these races, which is fantastic to see.”
Edy: inov-8 Product Numbers Represent the Shoe's Weight in Grams
“Our naming system is the sole name or shoe name, and then the number is the weight of an average size shoe.”
Edy launched inov-8 by mailing a single shoe to running retailers
“Whilst I did have a lot of connections, I had to pioneer a lot of the running shops, and basically all I did was I built a database of them, and we basically did a mail shot to all the retailers, and put one shoe in with the mail shot, and then I gave them a s…”
Edy: Tooling molds for a shoe size range costs $30,000 to $40,000
“So just to give you an idea, the mold costs are about sort of 30 to 40,000 dollars. ... Sorry, that's for a series of the molds, so that's for a size range. So to do one shoe, you've got to invest that sort of money And that's only to make the moles.”
Wayne Edy: Inov-8 was launched using all personal savings
“All my savings and all the profit that I'd retained within the consultancy business went into that.”