Wayne Edy, founder of inov-8, explains the equity dilution schedule established during Descente's acquisition of the brand.
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“Over five years they wanted me to dilute down to zero.”
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More from Wayne Edy
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…”
Edy: Descente was slow at corporate decision-making
“They're Japanese corporate, very respectful, very considerate, but they are slow on the decision-making process, and everything has to go back to Japan to take decisions”
Edy: Asia is best for sports footwear due to superior machinery and materials
“For the type of footwear that we do, it's best made in Asia because that's where there's the most development and they have the best machinery and processes and materials to make sports footwear.”
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'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: The UK Fell Running Market Was 5,000 to 6,000 Runners at Launch
“I knew that there were about five or 6000 fell runners in the UK, so it's quite a small market, but quite easy to market to because they, you know, subscribe to the same magazines, and they go to the similar races, and it's a community, so I thought that that …”
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