Entrepreneur Fridays: CitySlips
WHO: Susie Levitt and Katie Shea
WHAT: CitySlips – portable, emergency footwear for the well-heeled woman!
WHEN: 2009
HOW: At 5’ 2”, I can appreciate the sentiment Katie Shea and Susie Levitt felt during their summer internships in New York City. A long day in stilettos can be pretty trying on the toes – but they’re just too good to give up entirely! “Between corporate internships, subway dashes, dinner dates and the NYC social scene, there were too many moments where we found ourselves hobbling, near tears, back to our Union Square apartments,” says Levitt. The solution seemed simple enough: find a pair of flat, comfortable “commuter shoes” that could be tucked into a tote while at work. “But after we scoured the market for emergency footwear,” says Shea, “we were left empty-handed.”
That’s when these “petite powerhouses,” as they (aptly) call themselves, had an “aha!” moment. As members of the class of 2009, a group facing one of the most dismal job markets in recent history, they thought, “instead of worrying about getting or losing a job, why not create one?” So, with an idea and $10,000 in savings, the two hit the ground running as soon as they began their senior year at NYU. The pair spent their final year in college balancing their coursework and corporate work, and by June, Levitt and Shea had launched CitySlips. Since they opened, they’ve sold 6,000 pairs at under $30 each, and are retailing CitySlips, and their new late night line, AfterSoles, on TV retailers like ShopNBC, online, and at stores around the U.S. With the help of the occasional babysitting job, the girls are getting by just fine.
“Oddly enough,” says Levitt, “launching a company in a down economy has provided us with immeasurable benefits.” Having built the business entirely with the girls’ combined savings, the pair wanted to ensure they used every penny wisely – and saved as many of those pennies as possible. The women found that many professionals were more than willing to help them with what they needed for a fraction of what they’d typically charge, simply because business was slower. “We were able to maximize our savings by using free resources (such as alibaba.com to find their manufacturer), and negotiating down the fees of professionals,” says Shea. After crunching the numbers, you can see that their saving tactics, like posting an ad for summer interns, negotiating down the cost of their proposal, utilizing free web-based communication, and using a personal contact to build their website has saved them more than $20,000 dollars!
So what does 2010 hold for CitySlips? Expansion – and at least 3 – 4 new products, Shea and Levitt say. “Portable footwear serves women of all ages and demographics,” says Levitt. “CitySlips are great for weddings, travel, sweet sixteens, business, maternity, and more – and our goal is to saturate each market.”
THEIR ADVICE: “Don’t wait for everything to be perfect,” Shea and Levitt say. “Taking initiative and creating momentum is essential.” They also suggest thinking of your customers as your boss — “It is they who ultimately decide if your product succeeds or fails in the market place.”
