Daily Newsletter

01 September 2023

Daily Newsletter

01 September 2023

Footwear startup jbrds secures $500,000 in seed funding

Footwear startup jbrds has raised $500,000 in seed funding for its footwear brand which is anatomically designed to support foot structure and activity requirements at four stages of a child's physical development.

Hannah Abdulla September 01 2023

The successfully completed seed funding round which has an estimated valuation of $5m follows the launch of jbrds first footwear product line - Stand2Walk shoes.

Co-founded by leading podiatrist and foot and ankle surgeon Dr. Jay LeBow; former sports industry veteran at Mizuno and adidas Mike Gugat; and top sporting goods merchant David Hirshfeld, jbrds reimagines children's footwear.

Its Stand2Walk patent-pending design supports the young wearer's lateral column and developing cuboid bone while stabilising the heel. This combination of support and stability promotes the healthy development of a child's foot.

"After reviewing hundreds of X-rays and evaluating the current offering of generic kids' footwear, it was clear there was a need in the footwear industry jbrds could fill," said co-founder and chief product officer Dr. Jay LeBow. "Now, every child can start on the right foot with shoes designed for their developmental needs and crafted with clinical expertise."

jbrds' created Stand2Walk anatomically designed footwear for children with the following features that make it easier for babies to stand, balance and walk:

  • Injection-molded support cage — a patent pending design to promote the healthy development of feet.
  • Velcro strap — easy for parents to slip on, hard for baby to take off.
  • Sock-like upper — instant comfort, socks optional
  • Suede outsole — just enough grip so baby won't trip.
  • 0-drop outsole — promotes the development of healthy tendons to limit future foot and ankle problems

"We're here to finally put an end to outfitting babies and young children with adult shoes shrunk down to fit kids' feet," said CEO and co-founder Mike Gugat. "Our mission is to start kids off on the right foot, and jbrds is leaving the 'one-size-fits-all' approach to children's footwear behind. We're meeting kids' needs from cradle to eight years old to avoid possible problems later in life from wearing ill-fitting, or simply the wrong shoes as a child."

APAC duty-free market expected to grow fastest, fueled by rising income levels and international travelers

Per latest GlobalData estimates, the global duty-free market retailing market was valued at $49 billion in 2022, its highest level ever as it bounced back from the pandemic impact, and is expected to grow at a CAGR of more than 28% during the period 2020-2026, driven by government initiatives, rising passenger numbers, major global events (for instance global sporting tournaments) and the renewed popularity of cruise trips. Infrastructure investments will also play an important role, particularly airport expansion and space refurbishment, and investments in arrivals duty-free formats.

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