Faith shoes
Encyclopedia
Faith is a UK
shoe
company that was started in 1964 by a London
accountant
called Samuel Faith and his wife Terry. In the following years new stores were gradually added, primarily in the South of England. After Samuel's retirement, his son Jonathan acquired the family business.
In the 1980s the brand
launched its prosperous 'faith solo' brand, taking styles and ideas straight from the catwalk and selling them to a mainstream audience.
In the 1980s the company also began a programme of opening concessions within selected Dorothy Perkins
and Top Shop
stores.
In 1996 a contract was entered into with Top Shop for Faith to open a concession in every single Top Shop store in the UK and Ireland. In the late 1990s Debenhams also approached Faith with a long-term view to becoming the main concession partner for young fashion ladies footwear. This form of expansion therefore became the only means of growth for the business for several years until 2001.
By the year 2001, concessions accounted for 75% of sales mainly through the Arcadia stores of Top Shop, Dorothy Perkins and Miss Selfridge.
In the autumn of 2001, Arcadia then served notice that they intended to exercise the termination clause in the contract. Faced with this loss of revenue, the Company had no choice but to embark on a substantial programme of opening own-brand stores.
Topshop asked Faith to leave its stores in the summer of 2003 as they found there would be a higher profit in producing its own brand of footwear. This led to a huge expansion of both Faith branches and profits. Latterly there was only one Faith concession within Topshop
(at Oxford Circus
).
In 2004 there were approximately 1700 employees in the UK and Ireland, with further concessions operating under licence in the Middle East. There was also a division servicing the main UK mail order catalogues, such as Freemans and Littlewoods.
The brand celebrated its 40th anniversary in 2004. In December 2004, Faith Shoes was bought for £65 Million by private equity group Bridgepoint Capital
, and some years later entered into a pre-pack administration agreement until 1998.
In April 2010, all stores were closed as part of a new administration procedure. Prior to administration it had 72 stand alone branches, as well as concessions in Allders
, Debenhams
, Sunwin House, and Beatties
.
. Jonathan gave £650,000 to charity
upon selling his business and 100% of his income at present. Jonathan financially supports Aish
, an Orthodox Jewish organization aimed urging Jews, especially younger Jews, to become more observant. He appeared on BBC Four's
Jews, which showed his Jewish outreach efforts. He and his wife Sharon have three sons and a daughter, Jessica. Jessica and Jonathan's eldest son Joseph, are also practicing Orthodox Jew.
The other directors at the time of the sale were Jacqueline and Paul O'Neill, and Lionel Stock.
After the sale of Faith, Jacqueline O'Neill took the role of managing director before retiring in 2007. Her husband Paul O'Neill was also on the board of directors and dealt with property, leading Faith to many Retail Award triumphs. He left in 2008 to focus on other goals. Lionel Stock left the company at the time of the sale and continued to work with Jonathan Faith on other projects.
In 2008 the business was bought out of pre-pack administration by John Kinnaird failed Dolcis owner. The business lasted less than two years through lack of investment and commitment of the new owners.
In the official press release Store Manager Justina Pay stated: "We were inspired by Claire Robertson and her success in turning her old Dorchester Woolworths store into Wellworths, a great example of someone who has had a massive success from a very sad redundancy. Customers were genuine in their sadness that our stores were closing and were concerned as to where they could buy quality shoes from, we knew we had to 'do a Wellworths' and try and bring it back!". The Hope Footwear story made international press, here is Justina talking on BBC Essex Radio.
United Kingdom
The United Kingdom of Great Britain and Northern IrelandIn the United Kingdom and Dependencies, other languages have been officially recognised as legitimate autochthonous languages under the European Charter for Regional or Minority Languages...
shoe
Shoe
A shoe is an item of footwear intended to protect and comfort the human foot while doing various activities. Shoes are also used as an item of decoration. The design of shoes has varied enormously through time and from culture to culture, with appearance originally being tied to function...
company that was started in 1964 by a London
London
London is the capital city of :England and the :United Kingdom, the largest metropolitan area in the United Kingdom, and the largest urban zone in the European Union by most measures. Located on the River Thames, London has been a major settlement for two millennia, its history going back to its...
accountant
Accountant
An accountant is a practitioner of accountancy or accounting , which is the measurement, disclosure or provision of assurance about financial information that helps managers, investors, tax authorities and others make decisions about allocating resources.The Big Four auditors are the largest...
called Samuel Faith and his wife Terry. In the following years new stores were gradually added, primarily in the South of England. After Samuel's retirement, his son Jonathan acquired the family business.
In the 1980s the brand
Brand
The American Marketing Association defines a brand as a "Name, term, design, symbol, or any other feature that identifies one seller's good or service as distinct from those of other sellers."...
launched its prosperous 'faith solo' brand, taking styles and ideas straight from the catwalk and selling them to a mainstream audience.
In the 1980s the company also began a programme of opening concessions within selected Dorothy Perkins
Dorothy Perkins
Dorothy Perkins, whose trading name was inspired by a rambler rose of the same name, is a large British women's clothing retailer, active mostly in the United Kingdom.- History :...
and Top Shop
Top Shop
Top Shop may mean:* TopShop A British Clothes Store* BOARD GAME Top Shop - A PlayStation Game* A Serbian national shop located in Novi Sad...
stores.
In 1996 a contract was entered into with Top Shop for Faith to open a concession in every single Top Shop store in the UK and Ireland. In the late 1990s Debenhams also approached Faith with a long-term view to becoming the main concession partner for young fashion ladies footwear. This form of expansion therefore became the only means of growth for the business for several years until 2001.
By the year 2001, concessions accounted for 75% of sales mainly through the Arcadia stores of Top Shop, Dorothy Perkins and Miss Selfridge.
In the autumn of 2001, Arcadia then served notice that they intended to exercise the termination clause in the contract. Faced with this loss of revenue, the Company had no choice but to embark on a substantial programme of opening own-brand stores.
Topshop asked Faith to leave its stores in the summer of 2003 as they found there would be a higher profit in producing its own brand of footwear. This led to a huge expansion of both Faith branches and profits. Latterly there was only one Faith concession within Topshop
Topshop
Topshop is a British clothes retailer with shops in over 20 countries and online operations in a number of its markets. Its sales come primarily from women's clothing and fashion accessories...
(at Oxford Circus
Oxford Circus
Oxford Circus is the area of London at the busy intersection of Regent Street and Oxford Street, in the West End. It is served by Oxford Circus tube station, which is directly beneath the junction itself.- History :...
).
In 2004 there were approximately 1700 employees in the UK and Ireland, with further concessions operating under licence in the Middle East. There was also a division servicing the main UK mail order catalogues, such as Freemans and Littlewoods.
The brand celebrated its 40th anniversary in 2004. In December 2004, Faith Shoes was bought for £65 Million by private equity group Bridgepoint Capital
Bridgepoint Capital
Bridgepoint is a UK-based private equity investor in companies valued up to €1 billion, including Pets at Home and Pret A Manger in the UK, Dorna in Spain, and Alain Afflelou in France.-History:...
, and some years later entered into a pre-pack administration agreement until 1998.
In April 2010, all stores were closed as part of a new administration procedure. Prior to administration it had 72 stand alone branches, as well as concessions in Allders
Allders
Allders is an independent department store in Croydon, established by Joshua Allder in 1862. It is the fourth-largest department store in the United Kingdom.The Croydon store was the flagship of a large chain of department stores in the UK...
, Debenhams
Debenhams
Debenhams plc is a British retailer operating under a department store format in the UK, Ireland and Denmark, and franchise stores in other countries. The Company was founded in the eighteenth century as a single store in London and has now grown to around 160 shops...
, Sunwin House, and Beatties
Beatties
Beatties is a British department store group with 7 stores located primarily in the Midlands of England. In 2005 James Beattie was acquired by House of Fraser, then having 12 stores. On , the Birmingham store closed, due to the uneconomical aspects of having two similar House of Fraser owned stores...
.
2004 Sale and Ownership Details
Jonathan Faith is an Orthodox JewOrthodox Judaism
Orthodox Judaism , is the approach to Judaism which adheres to the traditional interpretation and application of the laws and ethics of the Torah as legislated in the Talmudic texts by the Sanhedrin and subsequently developed and applied by the later authorities known as the Gaonim, Rishonim, and...
. Jonathan gave £650,000 to charity
Charity (practice)
The practice of charity means the voluntary giving of help to those in need who are not related to the giver.- Etymology :The word "charity" entered the English language through the Old French word "charité" which was derived from the Latin "caritas".Originally in Latin the word caritas meant...
upon selling his business and 100% of his income at present. Jonathan financially supports Aish
Aish HaTorah
Aish HaTorah is a Jewish Orthodox organization and yeshiva. Aish HaTorah is actively pro-Israel and encourages Jewish people to visit Israel and connect to the land and its history. Some consider the organisation to reflect a more Religious Zionist philosophy in its attachment to Israel, promoting...
, an Orthodox Jewish organization aimed urging Jews, especially younger Jews, to become more observant. He appeared on BBC Four's
BBC Four
BBC Four is a British television network operated by the British Broadcasting Corporation and available to digital television viewers on Freeview, IPTV, satellite and cable....
Jews, which showed his Jewish outreach efforts. He and his wife Sharon have three sons and a daughter, Jessica. Jessica and Jonathan's eldest son Joseph, are also practicing Orthodox Jew.
The other directors at the time of the sale were Jacqueline and Paul O'Neill, and Lionel Stock.
After the sale of Faith, Jacqueline O'Neill took the role of managing director before retiring in 2007. Her husband Paul O'Neill was also on the board of directors and dealt with property, leading Faith to many Retail Award triumphs. He left in 2008 to focus on other goals. Lionel Stock left the company at the time of the sale and continued to work with Jonathan Faith on other projects.
In 2008 the business was bought out of pre-pack administration by John Kinnaird failed Dolcis owner. The business lasted less than two years through lack of investment and commitment of the new owners.
Administration
On 22 April 2010, Mazars LLP were appointed as joint administrators of Faith Shoe Group Limited. The website is no longer taking any orders and all branches are now closed. Concessions will continue to trade as normal for the time being. The website has also ceased trading and is now closed. Debenhams PLC purchased the Faith name, shop fittings and remaining stock.Chelmsford Staff Fight Back
In April 2010 Faith Footwear Ltd after the company went into administration 70 stores were closed, and more than 1700 staff lost their jobs. Inspired by the former Dorchester Woolworth's Store Manager Claire Robertson's success in reopening her store as 'Wellworths' the Chelmsford branch of Faith got together and reopened by their store on 3 July 2010 as 'Hope'.In the official press release Store Manager Justina Pay stated: "We were inspired by Claire Robertson and her success in turning her old Dorchester Woolworths store into Wellworths, a great example of someone who has had a massive success from a very sad redundancy. Customers were genuine in their sadness that our stores were closing and were concerned as to where they could buy quality shoes from, we knew we had to 'do a Wellworths' and try and bring it back!". The Hope Footwear story made international press, here is Justina talking on BBC Essex Radio.