Finish Line, Inc. is one of the leading companies specializing in athletic wear. It offers a wide selection of men’s, women’s and children’s best brand foot ware , accessories and apparel. Finish line,inc. Operates approximately around 550 mall-based retailer stores in all the U.S.A states. The size of an average finish line store is more than 5000 square feet. This is larger compared to the stores of its competitors. The large size of the company’s stores allows it to stock a diverse product portfolio. Around 70% of finish line income is usually from the sale of foot ware. The remaining revenue is left to apparel combined with accessories sales. Brand names retailed in finish line’s stores include Timberland, Nike, Adidas, Reebok, K-swiss, Phat farm, New Balance and nearly all major sport shoe brands
A Brief Look At the Beginnings
The finish line company was founded in 1976 October by Alan H. Cohen, David Klapper and John Domont. These three childhood friends first opened a franchise of The Athletes foot in Indianapolis. Initially, Klapper was the only one involved in the business full time. Domont was not an active partner, while Cohen was a law practitioner at that time.
In 1981, the owners decided to expand .They felt that the ten stores in Indiana were not enough. Unfortunately, the Athlete foot offered franchise rights only as far as Indiana’s border. The owners therefore decided to start their own independent company and name it the Finish Line ,INC.
They approached Larry, another friend, with a partnership deal, and offered Dave Fagin, a manufacturers salesman with apparel experience who had been supplying them with products, a piece of the new business too. They opened the first store using their new name in the speed way shopping center, in Indiana.
By 1991, Finish Line, Inc. had grown rapidly to more than 105 stores located mainly in the Midwest and southwest states. It was averaging gross sales of about $100 million annually .
In 1992 the company decided to go public and adopted its widely known “shoe wall” trade mark. Currently an average store stocks between 600-1300 different kinds of athletic shoes. These range from basketball to running, walking and gym shoes.They also stock aerobics, cross-training, skating, and casual shoes.
They used the capital generated from the initial offering, combined with their successful business model, to expand rapidly during the next several years. They added more stores and their revenue rose from $129.5 million in 1993 to $157 in 1994.
By the end of 1994 financial year the company had stores in around 22 states. The company, due to its rapid expansion needed extra capital, so they offered their stock to the public for the second time in 1996.
The company’s stores are classified by their size. The small stores are known as traditional formats. These are smaller than 10,000 feet. The Ones which are between 10,000 and 15000 feet are classified as medium stores while those larger than 1500 square feet are known as large format stores.
In 2012, the company partnered with Macy’s. You can now shop Finish Line shoes from a Macy’s store.
Finish Line has faced its share of market ups and downs, but is has survived and even continued to grow in the past 5 years. This due to its excellent management and sound strategic planning. Today, the Finish Line, Inc. is one of the leading retailers of foot ware, apparel and accessories.
FinishLine.com and 6pm.com are two leading shoe stores. Finishline specializes in athletic shoes while 6pm.com carries any type of shoe. Get the scoop on these discount sneakers websites.