Originally named Atlas18, CODDI™ is the brainchild of Pensole graduate, Matthew Walters. Matt developed footwear for Under Armour before taking the extremely difficult dive into brand ownership. I realize how difficult this is so I had to take the time to ask a few questions. This Project + Exec will give you some insight into going from “sneakerhead to boss“.
Q: I see that you worked for Under Armour. If you’ve read my site you know that I think the company wastes a lot of opportunities and that it seems like they get bogged down in red tape. Did you leave the company because you felt that they moved too slow or was your decision to leave based on the opportunity to create your own footwear solely?
Matt: Designing shoes for UA was an incredible experience. Not only did I grow as a designer while I was there, but more importantly I learned how to develop and market what I was designing. After 5 years at UA, I felt a need for a different challenge. In college for my senior thesis, I created my own footwear company. It was a great experience that left me wanting to start my own company for real one day. Having spent that much time at UA, I felt like I was ready to jump head first into the start-up life.
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Q: Pensole is cranking out some fantastic designers. It appears you are one of those. I also see that you hold a BFA in Industrial Design. Do you think a person interested in the footwear industry is better suited if they go to a traditional program as you did and then apply for Pensole?
Matt: If you are interested in the footwear industry, Pensole is the #1 place to be. Design school was great, but Pensole is laser focused on footwear design. At Pensole, you learn from all sorts of industry leading people / companies. You learn everything from the basics of drawing a shoe silhouette, to color and materials development. If I could re-do everything, I would still go to Pensole, but I would major in Business.
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Q: Did Pensole play a role in you working for Under Armour?
Matt: It for sure did. While at Pensole, one of the most important things I learned there was how to think as a designer. How to keep it simple. How to stay hyper purposeful with every line you put to paper. I use those skills on a daily basis. Those skills definitely helped me get a job with UA.
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Q: I’ve checked out your IG and profile to see your shoes. Right now your website is home to a splash page with one picture. From what I see, the shoes remind me a bit of Palladium Boots with a touch of Fear of God. They don’t look bad at all. I know how hard it is to break through in footwear. Is your brand going to be an outdoor brand primarily?
Matt: Appreciate the kind words. Urban hiking is a good term for my brand. I designed these boots to be worn in both adventure and street settings. I also for my first boot, wanted this one to be relatively simple and easy to digest boot. And then if all goes well, the envelope will be pushed slightly more with each new model.
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Q: I think it’s important to find a niche. As a matter of fact I think entering/creating a category Urban Hiking and delivering a series of boots as opposed to jumping in the deep end of sneakers is a smart play. What made you decide on “hiking” and boots?
Matt: For 2 reasons. 1: simply because while at UA, I never had the chance to design a boot before. I primarily worked on running and kids shoes. So I wanted to create a new experience for myself. And 2: I love the wearability and versatility of a boot. I want people to rock these boots as much as possible, on as many terrains and during all seasons. With other categories of footwear, you just don’t have that type of versatility.
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Q: I manufactured my footwear in China. As a small company it was extremely hard and even worse the damaged shoes I received literally killed my profits before I started. I was a one man team. Is Coddi a one man show or do you have a team? Would you like to give your squad a shout out?
Matt: Technically, Coddi is a one man team. But I get help with this company every single day. Shoutouts definitely go to my childhood friends who’ve stuck with me for 15+ years, my loving and supportive family from the Chicago suburbs, and my UA designer friends back in Baltimore/Portland.
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Q: Where are your shoes manufactured?
Matt: Just outside of Hong Kong.
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Q: Here is a tough question, one that no one else on any sneaker site will throw at you. You are launching at a time when several Pensole based projects are either entering the market or are already on the market. We Are Underdogs has released several Pensole designs. Chris Dixon is dropping his CD line (cnstnt dvlpmnt) and Joe Carson attempted to launch Bacara, but the brand never really got off of the ground. Do you fear that the design of shoes that are so outside of the box and entering the market at premium prices is an opportunity or potentially a barrier as Joe Carson experienced?
Matt: I actually did have that fear of creating something a little too out there and setting it at a premium price. In my opinion, doing that has the chance of pigeon-holing yourself. I also want to have people’s trust in the brand before I go out there and do something too crazy. This was one of the inspirations for my boot design: keep it simple..gain the trust of your following…and then adapt, grow and push as you see fit once you become established.
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Q: I absolutely love the name of the brand. I admire where you are going with this and I need you to explain why people should take the time to get to know Coddi?
Matt: Thanks man so much. Im super excited to share Coddi with everyone. I want to build a brand that stands for 2 things: Longevity and versatility. Im sick and tired of small expiration dates of footwear. And also, am frustrated with how many footwear categories there are. Here at Coddi, we design boots that not only get better with age, but boots that you can wear in multiple settings, performing multiple activities. We’re a brand that will always stay true to that. No cheap product. No cutting corners. But instead, product that lasts.
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Thoughts on CODDI and analysis
In the next few months Matt will be launching a Kickstarter. Those of you on this site may be unaware that I ran ARCH (the sneaker company, not the site as it is now) out of my own pocket. You can read about that here. The cost was exhorbitant. In 2014 I took a step back and ran a Kickstarter. This was not easy and looking back on that Kickstarter today I can see clearly all of the missteps. I said all of that to ask you to follow Matt on IG and link with him. If you’re a fan of kicks as I am it’s critical to promote dope projects.
Here’s where you can find everything about CODDI:
Instagram: @coddi.footwear
Instagram: @_m.walt
Website: www.coddi.co
CODDI is already at a disadvantage. I get the idea of putting a splash page up and capturing e-mails, but the entire design process, drawings, sketches, photoshoots, samples, all of that information needs to be captured on the site and the site needs to be indexed to improve search. Most website traffic derives from search and when a brand relies on social media they do so to the detriment of the company (unless you are an established brand). People may like a picture but IG doesn’t allow for embedded links and CODDI is asking people to leave a picture on IG, go to the header, and click through to possibly pre-order. That’s too many steps. People on social media tend to stay on social and continue scrolling the like is almost a knee jerk response.
There is no narrative or story telling on the site, just a splash page. CODDI doesn’t have to give away pics or any of that, but everyday the brand should be creating content and pushing it out there. If it’s good enough for the Gram, it’s good enough to be on the website with a story.
There has to be an emotional connection that will tie people to the brand who discover the brand, and to the boots when they arrive. Or… the only option is to have enough money to pull a GREATS Brand and go low end and elevate the customer slowly to high end and keep the DTC in check.
I really like the attitude of going all in and leaving a comfortable job at Under Armour to do something that is the riskiest venture you can pursue. It shows that Matt believes in himself and that’s great, but it doesn’t equate to success. There myth of hard work = success is just that, a myth. Matt will have to fight like he’s in the ring with Ali. He will have to bob and weave, throw jabs and protect himself from headshots and body blows. He will be knocked down, but if he truly prepares he has a niche. Stylish, luxury, urban hiking design sounds good to me and if the brand can hit 200 pair sold per month at 169.00, that’s 33,800 a month. Chalk up ship and landed costs at a third (33%) and he’s spending 11,154. Take into consideration shipping costs at 3000.00, and customer acquisition at a hopeful 25% = 4911.00 and only a 10% damage rate (returns, damaged shoes, etc) = 3,380.00 and CODDI has a chance to do well. If all of that math confused you here would be the total income on 200 pair per month = $11,355.
I’m already assuming Matt will successfully launch his Kickstarter. By next week I better start see ing updates and information in my social feeds on CODDI 🙂
Here’s where you can find everything about CODDI:
Instagram: @coddi.footwear
Instagram: @_m.walt
Website: www.coddi.co
