Evidence receipt / evaluation
Published · transcript-backedSpeaker unverified: evaluation
16 May 2022 Acquired Arena Show Part II: Brooks Running (with CEO Jim Weber)
“Our brand was not strong, but when we made the decision to burn the boats on everything but performance running, the industry had never seen that before and most people thought we were crazy that we wouldn't survive.”
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Everything needed to verify it.
- Speaker
- Speaker unverified
- Attribution
- Not verified from this transcript
- Claim type
- evaluation
- Recorded
- 16 May 2022
- Publisher
- Acquired
Transcript context
…You had to view it as the product you made was like a factory that made shoes. Most of it, we were losing money on and that was the secret. We had good, better, best, $30 shoes, $80 shoes, and then performance running shoes that really started at that point about $100. Then we had court shoes and family footwear. We call them barbecue shoes and learn more shoes because that's what you did in them. All of it was very low margin, all it was tying up inventory and cash. The retailers were ambivalent about it because we were number eight or nine and everything. Our brand was not strong, but when we made the decision to burn the boats on everything but performance running, the industry had never seen that before and most people thought we were crazy that we wouldn't survive. You came in as CEO, I think in 2002, maybe late 2001?…
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