Company: Lindsay Phillips Inc., Cedar Knolls NJ USA
Company Description: Lindsay Phillips Inc. is a leading manufacturer; marketer and wholesaler of interchangeable foot wear fashion and accessories. Our products are sold in over 4000 stores throughout the US and Canada. This has grown from only 400 stores less than 2 ago. Our Company was founded by 25 year old Lindsay Phillips who continues to garner a tremendous amount of national press.
Nomination Category: Individual Categories
Nomination Sub Category: Best Young Entrepreneur
Nomination Title: Lindsay Phillips, Founder
Describe for the judges the activities and accomplishments of the nominated young entrepreneur during the eligibility period (up to 500 words):
Over the last year Lindsay Phillips Inc. (founded by Lindsay Phillips),
manufacturer of ladies shoes and accessories, has experienced significant
growth. The company’s goal was always to create a clear and sustainable
business model that was profits driven. Over the past year, the Company has
increased sales from $9.5 million (2008) to $17.6 million (2009), despite the
difficult economic environment. Estimated sales for 2010 are $25.3 million.
Distribution has expanded from 2000 doors (2008) to over 4000 (2009). In 2009,
the Company successfully launched the Lindsay Phillips brand on the
international market, including Canada and Europe.
In order to support such phenomenal growth, the company has built a world-class
management team and support staff. The office grew from 16 people in 2008 to
over 30 in 2009 including a strong executive team: CEO, CFO, EVP of Design and
Merchandising and EVP of Sales. Their work is supported by a VP of Marketing,
account services, accounting and sales. In addition, Lindsay Phillips Inc.
built a 5-person team based in Hong Kong, responsible for overseeing Company factories
and quality control.
This Company is committed to giving back to the community. In 2009, the
Company launched the Breast Cancer flip flop, with the majority of the proceeds
supporting local and national Breast Cancer charities. In addition, the company
has raised money for the earthquake victims in Haiti as well as donating shoes to
Soles4Souls (a shoe charity that donates shoes to adults and children in need). In
2009, Lindsay Phillips, Inc. received numerous awards including two Stevie
Awards and the New Jersey Emerging Business of the Year award. In 2010
Lindsay won the prestigious Ernst & Young Entrepreneur of the Year Award for NJ,
with other State of NJ winners, Lindsay will now compete in the ENY national
competition in November. The Company has earned a well-deserved reputation as
being an innovator in the interchangeable shoe category as well as a savvy
marketer. Lindsay and the Company are featured in national and local media,
including The View, The Wendy Williams Show, Star Magazine, In-Style and
Every Day with Rachel Ray to name a few.
Most importantly Lindsay Phillips Inc. has been established as the brand leader of
women’s shoes and accessories in the gift and boutique market. The Company
was ranked by GiftBeat as the #1 selling line for Summer/Seasonal in the August
issue, ahead of Vera Bradley!
List the URLs (web addresses) of any online news stories, press releases, or other documents that you would like the judges to see that support your entry. IMPORTANT: List each URL on a separate line, begin each URL with http://, and enclose each URL in square brackets. For example, [http://www.yourcompany.com/pressrelease.html]:
Provide a brief biography of the nominated entrepreneur (up to 100 words):
For Lindsay Phillips, a creative idea led to a retail empire.
At 16, Lindsay had an idea for an interchangeable flip flop. In college, she
realized Velcro was the solution for interchangeable straps, and applied for a
patent. In 2007, she sold 5,000 pairs of SwitchFlops, and was officially in
Lindsay quickly assembled a team of professionals and moved operations to New
Jersey in 2008 to promote internal growth and distribution. The company
expanded its design team and product line - including a Breast Cancer Awareness
Built on the notion of interchangeability, Lindsay’s company is as innovative as
her products, with a thriving web retail presence, including Facebook and Twitter.
Today, the company that bears her name employs over 30 people. Sales doubled
last year, and estimates are the same for 2010. Store penetration went from 700
stores in 2007, to over 4,000 stores today.
Through constant innovation, Lindsay is poised to step into the big leagues.