Casati: Velasca matches Allen Edmonds quality at half the price
Enrico Casati · EP 603: Velasca Has Sold 20,000 Italian Shoes to 15,000 Men, $1.6m 2016 Revenue, $750k Raised with CEO Enrico Casati · Mar 19, 2017 · at 4:49
Enrico Casati, co-founder and CEO of direct-to-consumer footwear brand Velasca, compares the quality and pricing of Velasca's shoes to luxury brands like Allen Edmonds and Church's.
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“If you used to buying Allen Edmonds or church, you're getting the same product, sometimes even a better quality product, because I know like we source the materials from the same suppliers or even a higher quality materials from other suppliers and you're getting it at half the price.”
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More from Enrico Casati
Casati: Traditional shoe retail stacks a 2x brand and 2.5x retail markup
“At the very least, usually you get a two times markup from the brand plus a 2.5 from the retail. So we basically skipping at least one passage.”
Casati: One-third of Velasca customers repurchase within six months
“Within the first six months, that's the, one of the best statistics that we have, one third of customers buy again.”
Velasca raises €750k in VC equity round
“We had 750,000 euros in in in a VC round, which is considered like a series A here, but it's probably like a seed investment in in the U S.”
Velasca's Artista boot costs around 80 euros to make
“It's around 80 euros. It depends if we pay, like, right at the delivery, or if we try to extend it for a 60 day payment. But it's around 80 euros.”