Wayne Edy

13 statements across 1 episodes · 1 bullish · 2 bearish · 1 people on the record · first statement Sep 13, 2021 by Wayne Edy · across every show →

On the record as a speaker too: Wayne Edy's record, appearances and statements → this page counts the times other people say the name.

Everything said about Wayne Edy, oldest first

Sep 13, 2021 negative
Assertion Not checkable as stated
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 Sep 13, 2021 ▶ 34:48 inov-8: Wayne Edy
Sep 13, 2021
Assertion Not checkable as stated
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 Sep 13, 2021 ▶ 13:39 inov-8: Wayne Edy
Sep 13, 2021
Disclosure
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.”
Wayne Edy Sep 13, 2021 ▶ 12:23 inov-8: Wayne Edy
Sep 13, 2021 negative
Opinion
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…”
Wayne Edy Sep 13, 2021 ▶ 40:20 inov-8: Wayne Edy
Sep 13, 2021 bullish
Assertion Not checkable as stated
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.”
Wayne Edy Sep 13, 2021 ▶ 25:20 inov-8: Wayne Edy
Sep 13, 2021 neutral
Opinion
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.”
Wayne Edy Sep 13, 2021 ▶ 53:50 inov-8: Wayne Edy
Sep 13, 2021
Disclosure
Edy's Descente deal structured a 5-year dilution to zero
“Over five years they wanted me to dilute down to zero.”
Wayne Edy Sep 13, 2021 ▶ 41:43 inov-8: Wayne Edy
Sep 13, 2021
Assertion Not publicly verifiable
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.”
Wayne Edy Sep 13, 2021 ▶ 33:30 inov-8: Wayne Edy
Sep 13, 2021 neutral
Assertion Supported
Edy: Private equity acquired a 42% stake in inov-8
“I was still the major shareholder of the business, so they took, yeah, 42%.”
Wayne Edy Sep 13, 2021 ▶ 37:24 inov-8: Wayne Edy
Sep 13, 2021
Assertion Supported
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.”
Wayne Edy Sep 13, 2021 ▶ 48:32 inov-8: Wayne Edy
Sep 13, 2021
Insight
Edy: Launching a Brand Requires Finding a Differentiator and Niche Gap
“Whenever you Launch a brand. You've got to find, well, what's our differentiator? And where's the niche or gap in the market that we're going to go for?”
Wayne Edy Sep 13, 2021 ▶ 9:06 inov-8: Wayne Edy
Sep 13, 2021
Assertion Not checkable as stated
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…”
Wayne Edy Sep 13, 2021 ▶ 16:17 inov-8: Wayne Edy
Sep 13, 2021
Assertion Supported
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.”
Wayne Edy Sep 13, 2021 ▶ 17:44 inov-8: Wayne Edy
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