Year one is in the books for Bandals International, and it was a solid step forward for the Rochester-based firm.
firm makes adjustable thong-style sandals. Hardly a new economy
start-up, but it’s one that has created three jobs and plenty of work
for a number of stakeholders in the firm. It has raised about $600,000
in seed capital, including a recent $250,000 loan from Hennessey Capital last year.
there are the sales numbers. Bandals International has sold 20,000
pairs of shoes and 40,000 pairs of the bands that go with them. It’s
been on QVC in both the U.S. and U.K. and has lined up 250 retail
locations across the U.S. and even more distributors in Canada.
“We’ve sold a lot of shoes and we have a lot of retailers,” says Joe Ferrario, a partner with Bandals International. “We’re selling our product all around the world.”
part of the validation of the company’s promising future. Another is
the growing number of competitors that are also trying to take
advantage of the growing market, Ferrario adds. So much so that Bandals
International expects its sales to grow even more, allowing it to hire
another 10-12 people in 2010.
Source: Joe Ferrario, a partner with Bandals International
Writer: Jon Zemke