Caleres Business Strategies

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Innovation
Since Caleres is a wholesaler and doesn’t actually create a product, it’s hard to see how they are being innovative on the surface. Digging in though, it is obvious that the innovation is within the brands of shoes themselves. Dr. Scholl’s, for example, is very innovative footwear geared toward people with discomfort. Another brand, Ryka, creates athletic footwear specifically designed for women. Caleres can continue to be innovative by bringing new brands to their stores that are associated with being innovative and made with the newest technology. Examples of these would be knitted footwear, which creates less waste, 3D printing, which can make shoes for less cost, and smart footwear, which can be synced with a smart phone to change …show more content…

However, this market is extremely competitive and Caleres would have to make something never before seen in order to have any success.
Growth
Despite not clearly stating their long term objects, Caleres focus on their mission to become the best in the footwear industry. One of the primary growth strategies that Caleres had utilized in it’s earlier years of development is acquiring strategic firms. In 1950, Caleres (at the time Brown Shoe Company) acquired a firm by the name of Wohl Stores which served as their introduction into the retail market. Their focus on contemporary fashion has led the to seek opportunities through diversification especially after the 1970’s when there earning began to drop as a result of narrow scope dependency.
Key Mergers and Acquisitions (Brown Shoe Company, Inc. History)
1950: Acquired Wohl Stores. Wohl Stores had operated a series of shops that introduced Brown Shoe to the depths of the retail …show more content…

Even if an up and coming company makes it past the high barriers to entry, the semi saturated market would likely place those late entrants in the position for acquisition by a larger firm. Moving forward they could focus on what the market is demanding, what the future will have in store, or what the future could have in store. Based on their current standings in the industry it would be advisable for them to consider setting the standard for what the market is demanding now instead of projecting too far

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