Client & Industry
Loom Footwear is a sustainable footwear company. Located in Los Angeles, California it aims to make the best, all-terrain footwear. According to the company website, Loom specializes in waterproof sneakers that are comfortable and reliable. A PRNewswire press release cites their business tagline as “Believe in the weave.” This is a nod to their shoe design and weaving technology used in their shoes.
The same PRNewswire press release shows that Loom made its debut in 2018 under the name Loom Way of Life. In 2020 the brand went through a rebrand and re-debuted under the name Loom Footwear. After years of trial and error Loom finally came up with, what it claims on its website is, “the most versatile eco-friendly footwear.” Loom was founded by Mark McCormick and Charles Brown who shared the desire to see the impact of their business decisions first-hand. They aim to value the impact and quality of the product over the profits they receive.
With a mission to be eco-friendly, Loom sources materials from farms around the world. The website states that this allows the company to produce breathable, eco-friendly shoes that are both durable and comfortable. Loom decided to work with Custom Safaris to bring resources to women in Kenya by donating 10% of their proceeds to the Maasai Beaded Project. The Maasai Beaded Project provides supplies and business education to women in Kenya giving them the ability to run self-sustaining businesses through making woven jewelry.
Custom Safaris is a private safari company that “is considered one of the premier safari operators for bespoke travel to Africa.” They were founded by Linda Friedman and values giving back to the communities they travel to by developing various projects to help improve the lives of the locals. These projects offer financial support for education, health care, economic empowerment for women, food and water.
According to data on Statista, in 2021 the footwear industry earned a total revenue of $391 billion worldwide. Within retail, footwear is the second most important segment preceded by apparel. Athletic footwear accounted for 12% of revenue in the footwear category. Worldwide this accounts to $48 billion and is expected to increase by $29 by 2025 making the revenue grow to $77 billion. Between 2021 and 2025, all areas of the footwear industry are growing by over 30%, the sneaker industry in particular is expected to increase by 65% and has one of the highest growth potentials.
Current Brand Image
Loom has multiple blogs giving good reviews but all of these blogs give a discount code meaning there is an air of skepticality if these reviews are honest or not. Since the beginning, the actual product reviews put Loom in a bad light. According to Trustpilot, many consumers complain about bad customer service and sizing. There are also reports of false advertising as many consumers claim that they are not truly waterproof like they claim.
Competition
The three main competitors of Loom sneakers are Sperry Men’s Water Strider, On Cloud 5-Waterproof, and Vessi. Sperry Men’s Water Strider are sold for an affordable price of $54.95 and look like Crocs. Sperry is a reputable brand and caters to both men and women. On Cloud 5-Waterproof are quite expensive at $169.99 but are worth the price. These shoes are sustainable with their content being 40% recycled material and about 90% of the polyester used being recycled. Vessi shoes offer many different styles and retail for around $145. They come in a variety of colors and have great reviews.
Product
Loom Sneakers are waterproof shoes that are suitable for all weather conditions. Available for purchase only on the Loom Footwear website, the shoes are packaged in a sleek black and white box. A pair of Loom sneakers are priced at $249.99 but are frequently discounted to $99.00.
Features
- Waterproofing from tight-knit merino wool
- Special H2-Go layer
- Well-Cushioned
- Impact Resistant
- Breathable
- Antibacterial
- Sustainably sourced material
Benefits
- Keeps feet dry
- Keeps smells at bay
- Reduces foot pain
- Protects joints from rough terrain
- Protects against rashes
- Easily washable
Target Audience
According to this article from Mintel, many professionals are trading in their business shoes for sneakers to provide comfort when they spend the day on their feet. Loom sneakers are designed for comfort and reliability which can draw in clientele who value this. The consumers can be expected to be in a higher-middle income bracket due to the price and live in an area with terrain ideal for sports. These shoes may appeal to restaurant workers, Office workers, Nurses, College kids, and anyone on their feet for many consecutive hours throughout the day.
Consumers who value comfort and reliability have come to love Loom due to the durable design. The website explains that, not only does Loom’s breathable knit material allow comfort for the user but the H2-Go Layer allows 100% waterproofing and makes the shoes easy to wash. This is appealing to consumers who may not have a lot of time to handle upkeep on their shoes and want something easy to pair with their hectic lifestyle.
Unique Selling Proposition
Loom can promise to keep producing the best waterproof shoes available. Loom is always on a mission to improve their product and aim to use the best materials. Keeping the durability and comfort is a high value to Loom and will always be kept in mind when designing waterproof sneakers.