Wedhammar worked at Nike for 11 years, during which time he worked his way up to Product Management. He then was general manager at Converse for six years and then vice president for two and a half years.
His time at these brands gave him an exhaustive knowledge of the sector. But the idea of moving to California, because his wife is from that state, caused him to accept an offer at Sperry and later at Deckers Brands.
The story with Tom
Wedhammar accepted Toms’ management three years ago. The idea of leading a brand that was born with a social DNA and that had several design proposals excited him a lot, given that he came from very consolidated brands, but that his core business I was in sports shoes.
“It is very important to work for a brand that not only sells shoes. Toms’ mission is to improve people’s lives and do more for people. Toms is not going to change the world, but he can do his bit”.
This brand came about with the promise that for every pair sold it would donate a new pair of shoes to a child in need. With this business model called ‘one by one’, he managed to donate 100 million shoes, until the initiative was no longer profitable, due to production costs.
Despite this, Toms did not abandon his social essence, he began to allocate a third of the profits to mental health causes, an end to gun violence and access to opportunities. Toms is currently among the top five footwear brands with the highest ethical ratings in the UK, after Veja, Po-Zu, Sunies and Ethletic, according to data firm Statista.
The biggest challenge for Wedhammar was the arrival of the pandemic. They had to close 12 physical stores in the United States and rely more on e-commerce, which represented 65% of sales in 2020. Today there are 50 and 50.
“We had to be very cautious, especially with the four-month delays in merchandise and the increase in shipping costs. It was even necessary to raise the price of the product, although we expect costs to normalize in the coming years”, he reveals.
The steps to follow…
The Swedish businessman is passionate about surfing, this is how he manages to de-stress. But he certainly says that playing golf with his son taught him to be a patient coach and to work as a team. He admits that at the beginning of his career in the footwear industry he did not know much about it. Today he is grateful for having started in sales, as well as for the people who saw potential in him to be able to develop in the world of shoes.
One of the books that helped him in his performance was the key point by Malcolm Gladwell. In the work, the author makes room for how epidemics, fashions, sales successes and the phenomenon of word of mouth arise. It is a book that occupies the first positions in the lists of sales of the United States.
Wedhammar is aware that the world is facing a difficult moment: the war between Ukraine and Russia, the conflict between the United States and China over Taiwan and, incidentally, the inflation that squeezes the pockets of consumers.
Fortunately, he says, they have a good relationship with the suppliers in China that supply them with the raw materials to manufacture their iconic espadrilles, as well as the rest of the catalog with which the brand seeks to reach new segments, including millennials, centennials and members of the LGBTQ+ community.
“We have no plan to sell in Russia or Ukraine. It is a very unfortunate situation. We would love to produce locally in Mexico or the United States, but the reality is that most of the production happens in China and Vietnam. I know that the world is facing difficult times, so the focus is to be a brand that is aware, responsible and close to the consumer”, he explains.
In this regard, Luis Treviño, managing director of the investment firm Beamonte, points out that, while the United States is Mexico’s main trading partner, there are also diplomatic ties with China and Taiwan, and several Mexican companies have sought other options to satisfy themselves with matters cousins.
“The immediate effect of a war between the United States and China would be the disruption of the supply chain, it will be more difficult to buy Chinese products if they decide not to supply or stop supplying globally. That means that the products we buy from China are going to become more expensive.
For now, the next phase of Toms has already begun with the first opening of a flagship store in Mexico. The plan is to open three stores per year from 2023, through the alliance they have with Promarcas. Additionally, they are working with a mental health organization to impact another million people and their portfolio is available in department stores.
Today, Toms employs 230 people worldwide and its processes have 80% recycled materials. By 2025, the brand aims to use only 100% sustainable cotton in its footwear, as well as reduce its carbon footprint over the next four years. The current achievement is that the company maintained its double-digit growth.