Lindsay Phillips Inc.
Company: Lindsay Phillips Inc., Cedar Knolls, NJ
Company Description: Lindsay Phillips is the leading designer, manuf., and marketer of women’s s interchangeable fashion accessories. The Company has grown from over 200 retail locations in 07 to over 3000 in 09. We are recognized as the innovator in changeable footwear and the Company receives widespread press throughout the US. Sales have grown from under $500 K in 07 to an estimated $17 million in 09.
Nomination Category: Individual Categories
Nomination Sub Category: Best Entrepreneur – Non-Services Businesses – up to 100 Employees
Nomination Title: Lindsay Phillips - Founder, Lindsay Phillips, Inc.
Describe for the judges the activities and accomplishments of the nominated entrepreneur during the eligibility period (up to 500 words):
Lindsay Phillips is the energetic inspiration and founding force behind Lindsay
Phillips Inc. Her footwear concept evolved from a high school art project—ceramic
flip flops. Amazed by the response, Lindsay began designing functional flops with
colorful straps, each adorned with a unique button. Her idea evolved when she
realized that by using Velcro she could create one shoe and many straps—
unlimited choices with minimal effort. This simple yet brilliant innovation was
the birth of SwitchFlops. Lindsay applied for a patent on her idea before she
graduated high school. SwitchFlops made its retail debut in January 2007 at the
Surf Expo trade show in Orlando, Florida, where it was showcased as a new and
innovative product of 2007.
As a 24 year-old entrepreneur, Lindsay has engineered the long term vision and
growth of her Company. Lindsay developed an entire internal organization
including the hiring of a CEO, CFO, and EVP of Merchandising and Marketing.
The company now employs 22 people and has current plans to hire 5 more
employees in the next four months. Additionally, Lindsay partnered her company
with Tractenberg and Co., a nationally recognized public relations and marketing
firm. Internal operations have been developed with the use of cutting edge IT
and a world class third party shipping facility.
Lindsay’s company growth can also be seen through dramatic increases in
distribution and sales. Distribution has grown from under 400 retail locations in
2007 to over 3,200 today. Sales from 2007 to 2009 have grown as follows: 2007
achieved $500k in sales, 2008 sales totaled $9.1m, and the estimated figure for
2009 is $17.5m in sales. These annual sales figures represent a compounded
growth rate of over 1700%. This year Lindsay Phillips Inc. took its first step
outside the US with successful launches in the UK and Canada. International
expansion continues to be a focus for the company.
Lindsay Phillips and SwitchFlops continue to generate tremendous press
throughout the US. The company and Lindsay have been featured in several
magazines and shows such as Every day with Rachael Ray, Ladies Home
Journal, The New York Times, and The View.
Lindsay Phillips continues to create and develop innovative, exciting shoes and
accessories. It’s easier now than ever to change from beach to ballroom in a
matter of seconds. Change your look, not your sole!
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):
Lindsay Phillips -
March 2002 - Idea born and patent application submitted
May 2003- Graduated from Berkley Prepatory School, Tampa Florida
June 2003- Summer Intern, Polo Leather Goods, NY, NY
September 2003- Rollins College, Winter Park, FL
May 2004- Patent application granted
April 2003- LuLu Design Incorporated (predecessor to Lindsay Phillips Inc.
June 2004- Summer Intern, Polo Leather Goods, NY, NY
August 2005-First sourcing trip to China
September 2005-Semester At Sea
August 2006-Place first order to purchase shoes
September 2006-Open first office/warehouse
January 2007-Won booth at Surf Expo Trade Show
March 2007-Signed first agreement with rep. group
April 2007- Began shipping first product
April 2007-Set upf web site www.switchflops.com
June 2007-Graduated from Rollins College, Winter Park, FL
March 2008-Hired CEO, Jeffrey Davidson