Project + Exec is a new series where I’ve decided to seek out footwear executives who are minorities (Black, Latino, Indian, Native American, Asian men and women) who are doing some dope work, but are being overlooked by the larger media outlets. It’s my small part. I really hope you look more into the brands and people behind them.
Source: SNEAKERTUB
The sneaker industry is becoming a hotbed for investment by venture firms and luxury brands. A quick search on this site will show over 100 Million dollars that has been invested into sneaker ventures. Kamaj Silva and his team was released from their contract and found themselves out of work. He took the defeat as a sign that his hustle was better spent building something that he controlled. He built his website and then launched SNEAKERTUB a subscription box service for sneakerheads. He then landed a spot on the Canadian version of Shark Tank, Dragon’s Den:
What happened next is the stuff of dreams, or nightmares depending on how you approach the business after you successfully attain a deal for an investment. Investment means that you have to scale faster and in doing so you can find yourself in a difficult situation as the receiver of funds. Kamaj however has since launched a second subscription service in TheKITGRID. This tells me that SNEAKERTUB has been able to adjust to a very difficult promotional environment and maintain the initial growth. So just how does SNEAKERTUB work?
Every month you get a curated box. No Commitment, Cancel or skip renewals anytime before the monthly renewal date. It’s an interesting concept especially for sneaker culture enthusiasts who love getting a fresh pair monthly, but don’t have time to hit the mall or they aren’t interested in sitting and hoping to win a pair via an app from a retailer.
My Thoughts on SNEAKERTUB
This wouldn’t be an ARCH article if I didn’t look a bit deeper into this. adidas launched Avenue A.
Insider Ties: adidas Delivers Fashion and Function With Subscription-Based Avenue A
Under Armour launched Armourbox:
ArmourBox: A Personalized Subscription Box Service by Under Armour
In a world where Warby Parker took advantage of the gaps in the eyewear category, SNEAKERTUB (ST) has an opportunity to do the same, but the difference in Warby and ST is that the brands in footwear are all making a push to reach the consumer. This means that ST will have to develop a serious following to acquire customers or they will be competing with Nike and UA for keywords everywhere. This doesn’t mean that there isn’t a unique opportunity. ST will have to really look closely at the integration of omnichannel with Warby and possibly consider a curated retail space for ST. Like Nike they will also have to look at an Invertex situation. I know first hand how the return rates can kill a business and a subscription box company is working on thin margins.
Why You Should Know Kamaj and SNEAKERTUB (ST)?
The very difficult task of launching a business is often an isolated process. Kamaj has taken his passion for kicks and created a half a million dollar business. If he isn’t walking in schools every month and speaking to kids or doing speaking engagements with brands and retailers, then that’s more than a reason to know him. His story is the dream of all of us who have found ourselves on the outside looking in. It’s the story of how at any moment the safety and security of a job can be like Thanos snapping his fingers and T’Challa and Spiderman turn into dust. (Hey I just saw Infinity War…) Kamaj is definitely a Project + Exec you should know. Use the links in this article to check out SNEAKERTUB.