Founder, Lily Holt Shoes
www.lilyholt.com

If you’re going to blaze your own trail, why not do it while wearing shoes that sparkle?

Lily Holt can set you up with some. She founded Lily Holt shoes (www.lilyholt.com) around the idea of adorning shoes with jewelry designed in Argentina. Her spring 2007 line features everything from sandals to stilettos… many of them showcase the perfect pedicure with accoutrements like semi-precious stones, crystals, 14 karat gold and sterling silver.

Today approximately 65 boutiques carry the Lily Holt line, which naturally now also features jewelry and belts, and Lily plans to launch a shopping cart on her Web site in July.

Here Lily talks with Ladies Who Launch about even bigger plans -
she’s got a design-your-own shoe Web site in the works, and offers advice gleaned from growing up in the Anheuser-Busch family.

As Multi-Faceted as Her Shoes

Lily: “Before I launched Lily Holt shoes, I was involved in a tremendous amount of different types of businesses. I managed an all-guys America’s Cup racing team in San Diego in ‘95 and went on to attend the University of Miami in sports management. I worked for Leta Austin Foster, a big interior design firm in Palm Beach, New York and L.A.

First Launch Thwarted by Civil Unrest and Riots

“Then I moved to Argentina and was going to build a big spa with a bunch of VCs in ‘99 to 2001, then in 2001 the country blew up… it went bankrupt, there was rioting and violence, the president of the country was evacuated. So we closed that project.”

Trying Again - Launching at a Low Point

“I decided on my own to investigate what would be the best potential business to launch out of Argentina because sometimes the best time to launch is on the down rather than on the high. The designers (in Argentina) that I work with are jewelers - what we do is design jewelry and accessorize the shoes with the jewelry.”

Her Secrets to Growth - Do Something Well

“When we launched, we launched the shoe company in the states and had to build the factory in Argentina to build production. Since I started (in August 2002), we have grown at 50 percent year over year since our launch, and we’re growing higher this year.

“The growth we credit to the product. The first shoe you see on the (Lily Holt) home page is called Santa Cruz… that shoe is our star. We’ve basically been selling the same shoe, with a few changes, for years. We know how to make it. We know how to accessorize it. And we know how to market it.”

Then Tell The World

“Anybody can design a great product. The second process is getting it made. The third thing you’ve got to do is get it out there. But you’ve got to make sure the first two pieces of that foundation are good, because if they’re not, the foundation will crack if you put it under the pressure of marketing and PR.

“InStyle this month featured our Santa Cruz sandal in gold with coral… we’re getting a lot of response from that. I recently hired a (subcontractor) marketing team, and it’s doing wonders for us.”

Coming Soon: Design-Your-Own Shoes

“We’re a custom-design company. I only have to design 30 models each season - (our boutique store clients) can have those shoes in every color of the rainbow or material that we carry for that season.

“This is the coolest thing… at the end of the year, we’re going to launch an e-commerce design-your-own shoe and design-your- own jewelry Web site. Adults and kids as well… little girls can design a flip-flop for mom for Mother’s Day or shoes that look just like mom’s. Or a woman who says, ‘I need to find the perfect shoe to go with this outfit’ can come to us and can design it (herself).”

Greatest Challenge

“The most difficult thing in our industry is finding and then working to build a relationship with your suppliers. You almost have to marry your factory to get what you want out of them. With shoes, you have so many different components… if the uppers have arrived and the heels haven’t, you’re not putting the product together. It’s always a race for the clock in this business.”

Greatest Success

“The fact that I started a business. If it (were) easy to start a business, then anyone would do it. Your first success is that you have the courage to start a business.”

Success Starts at Home

“All of our financing is internal - it’s from my family. It’s so hard with venture capitalists… I wouldn’t even look at them until you have at least 5 years in your business. The best thing to do is to get friends and family to back you. The only way you’re going to be successful is if the success starts at home.”

Find Someone Who Believes in You

“My mom is my partner. You need to have someone at home to turn to when you’ve had a bad day or you’ve had a bad quarter, someone you can ask… can you help me in any way? You do need an angel sponsor when you start a company, and they need to believe in you as much as they believe in your business.”

Entrepreneurial Influences
“There have been so many people who have advised me… I look to what Tamara Mellon has done with Jimmy Choo shoes - she’s truly a marketing genius. It’s amazing what she has done with her branding. I’ve been so fortunate because I’ve had all my family advisors to fall back on.”

Lesson Learned from Family

“How to listen between the lines of good business sense and love. Sometimes having a family member as your partner is difficult because they are biased. They always want you to succeed but they also don’t want you to fail, meaning it’s really hard for them to advise you when all they have done their whole life is to protect you.”

Bedside Reading

“There’s a little sales book I read recently - it’s called “The Best Damn Sales Book Ever.” It’s an easy read… sometimes as an owner you can’t get the answers you’re looking for (from your advisors), so in that case it helps to go to books.”

How She De-Stresses

“Exercise. The only way to de-stress in this business, because you’re traveling so much… I spend four months on the road each year and have a two-year-old at home, that’s a lot of time away from him… the only thing that’s going to keep your drive high is exercise. Going on vacation doesn’t have the same effect.”

Tip for the Travel-Weary

“When you get off the plane… if you’ve just spent a week working your butt off, take the day off, and think about everything you just learned. Take a day, then go into the office and write down all the notes of things that were said to you and keep that information. It’s not a race, it’s a business, and you’ve got to build it slowly.”

Words of Advice: Say Goodbye Fears, Hello Self-Flattery

“I think that the biggest thing that affects women is the fear of the unknown because we’re such planners. When we’re starting something and can’t see how we’re going to get there, that’s when you need to dig in and let yourself be passionate and driven about your company. Don’t look at it as ‘in five years I’m going to be here…’ look at (your progress) daily.

“The more accomplishments you put behind yourself as you’re growing, the easier it is to recognize those accomplishments, as business grows. Don’t be discouraged by the setbacks - it’s all part of the learning curve.”

Scorching Hot Shoes for Summer

“Gold is THE color. Anything in gold is selling. Gold and silver… metallics… are both pretty hot this summer. We’re seeing a lot of flat sandals. I’m sort of noticing a little more of the ’60s mod designs, the mini-dress look with the sexy sandal. Being a Florida girl, there’s nothing better.”