Steel Blue kicking goals
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The Steel Blue brand of industrial safety footwear was introduced into the Australian market in 1995 by Bassendean-based Footwear Industries Pty Ltd.
The company, established in late 1995 in a small factory in Bassendean, now manufactures and markets three brands of industrial safety shoes and boots, including the company’s premium brand offering, Steel Blue.
Working in an industry renowned for cheap products, the company aimed to produce the world’s most comfortable safety boot and convince industry buyers and the general market that quality, premium priced safety footwear would benefit workers, and ultimately benefit their companies.
Sales in Steel Blue have increased substantially during the past 11 years, to the point where it has become the second largest safety footwear brand in Australia. Sales currently stand at 800,000 pairs worldwide annually.
This has resulted in turnover increasing from $19.9 million in 2003-04, to more than $32 million in 2005-06.
Forecast turnover of more than $35 million is expected for the 2006-07 financial year.
The company is currently beyond initial commercialisation and is building brand presence across new international markets and to new industries within existing national and international regions.
With ongoing development of current management capabilities and recruitment of new staff to the company’s management team, the founding directors of the business are currently focusing on a five-year strategic plan to double turnover and profit of the company by 2010.
The company believes growth will be achieved through the development of new structures and systems to allow for an increase in: market share within existing Australian and export distribution networks; distribution networks and agents in new export markets; and product development targeting new niche market requirements, among other areas.
In August 2006, the directors of the business were acknowledged with the Ernst and Young ‘western region entrepreneur of the year awards for retail, consumer and industrial products’ and will represent the state at this week’s national awards.