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Economist

Entrepreneurs in Australia: Starting up Down Under

April 26, 2013

Design your own walkabout
ABOUT four years ago Michael Fox and two former law-school friends sniffed around for an unfilled market niche. Shoes of Prey was the result. Old-fashioned shoemakers in shops are disappearing in Australia. Internet shoesellers are replacing them. Mr Fox?s firm goes one step further: it allows customers to design and order their own bespoke shoes online.It wastes no time wooing men. ?We figured women are more passionate about shoes,? says Mr Fox. Investors from America offered funds, some on condition that Shoes of Prey shift its base from Sydney to Silicon Valley. But Mr Fox and his friends refused to move. That decision appears to have done the firm no harm. It has sold more than 20,000 pairs of shoes, as far afield as France, Japan and America, and predicts that its revenue this year will be three times what it was in 2012.
A new report by PricewaterhouseCoopers (PWC), a professional-services...

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