Haley Pavone Scaled Her Convertible Heel Invention To 8 Figures With Zero Marketing Spend

Forbes

3 days ago

Haley Pavone, CEO of Pashion Footwear.
Forbes 30 under 30 alumn, Haley Pavone, turned her struggle, and countless other women's struggle, of wearing painful footwear into an eight figure business. After having enough with dealing with painful heels, she decided to invent a convertible sole with interchangeable heels. Since its launch in June 2019, Pashion has experienced significant growth, reporting an 85% increase in sales last year and a 19% EBITDA.
'The idea first struck me in the Spring of 2016. After thinking on the idea for a while and developing a rough business plan. Shortly after coming up with the idea, I carried out extensive market research, reading through old patents for similar concepts and identifying what went wrong. I quickly realized that while prior attempts had focused solely on removing the heel, in order to make a technology that was both functional and attractive - it was essential that the sole be innovated on as well. No other attempt at a technology like this had ever reached the same conclusion, confirming for me that I was on to something unique and compelling. Once I had my initial idea, I participated in my university's startup pitch competitions to secure my first $26,500 in equity-free funding. I used that money to hire a professional footwear development team, create the first wearable prototypes, and file our initial utility patents. I formally founded the company on October 4th, 2016 and after two and half years of R&D, we launched to market with our website on June 24, 2019. ' Pavone explained.
Pashion's patented technology allows for interchangeable heels giving consumers the option to go ... More from flats to kitten or high heels all within the same wear.
One of the biggest challenges Pavone faced after launching was educating the consumer around this new concept. Through trial and error Pavone and her team honed in on grass roots marketing that led them to eight figures in lifetime sales. 'Our biggest marketing challenge from day one was the fact that we weren't just launching a new brand, but an entirely new category. Global google searches for "convertible heels" were >100 per month when we got started. We knew we had an uphill battle of not only getting the word out that the "impossible shoe" had been made possible and was now a viable option to look for, but that we also had to earn the consumers trust. After all, the concept is so novel that at first, it can seem "too good to be true". We had to gain awareness, educate, and earn trust before each and every sale,' she further explained. 'Eventually, we learned that truly our most effective marketing had to be organic, women trust other women more than they could ever trust a new brand they haven't heard of prior. We launched ambassador programs and carried out product seeding efforts to get our initial community of Pashionistas bought in and then armed them with discounts codes and content guides to help spread the word to friends and family. Seeing the shoes (in person) really is believing - and seeing them used by your best friend on her wedding day so she can dance all night pain-free? That's what sells more shoes.' Pavone hasn't spent a dollar on digital advertising in nearly three years. Since 2023, Pashion's organic content, ambassador programs and corresponding word of mouth has driven over 9M visitors to the Pashion site.
Pashion's patented technology, known as the Stelo, is the only method of shoe conversion that allows for a stable heel with the same structural integrity as a non-convertible heel and a flexible midsole that lays completely flat when the mechanism is removed in addition to full heel customization, allowing a consumer to swap shapes, heights, and designs. This three-pronged approach to footwear gives pashion a competitive edge against other technologies that do not utilize a removable sole. Typically support is limited, either by a sole that's too rigid to go flat, a sole that's too flexible for a safe heel, or a mechanism that lacks the ability to swap the heels. The Stelo utility patents are fully issued in 30 countries, securing market dominance in this emerging category.
Pahsion's interchangeable heel's have been extremely popular amongst brides.
Pavone emphasized the unique aspects of Pashion's business model, fueled by its patented convertible shoe technology that allows wearers to mix and match different heel heights and designs along with a chosen sole. This innovation fosters customer loyalty and provides the brand with a high percentage of repeat orders. When it comes to the design process for heel styles, Pavone looks to the Pashion community for inspiration, 'Our design process is a team effort that incorporates a mix of our sales data, industry trend forecasts, and, most importantly, customer feedback and social commentary. Having built such a strong online community, we are always asking our customers what they want to see next, sharing BTS videos with them about the design process, and collecting their feedback in real-time along the way. This approach has been a major factor in the rabid success of our drop days , for instance, posting over 15 same-day sellouts in 2024,' she explained. 'Our most popular shoe for a first-time customer is the Latte Leather Sandal with a 3" Block Heel. Overall, our 3" block heels across all styles sell the best, gaining praise for being exceptionally comfortable and convenient while still providing that classic heel look.'
In 2024 Pashion grew its top line 85%, achieving $9M in gross sales and posting a 19% EBITDA (which is nearly double the industry average of 10%). This growth is attributed to the unique customization model allowing Pashion to post industry-leading margins across its blended assortment. Later this year, Pashion will be launching its first collection created with a guest designer, bolstering its brand awareness further. Continuing to propel growth, Pavone is also exploring exciting pathways into retail, revolutionizing the shoe shopping experience as customers will be able purchase a fully customized product same-day. Currently, Pashion is available to purchase on pashionfootwear.com, and a capsule collection available on Nordstrom.com