From Bankruptcy To A Billion Dollar Cultural Phenomena
The rise of Vans and the power of a successful brand.
When Paul Van Doren started retailing shoes, he probably never imagined a business so widespread. What started as a small family business, today gives the stiff competition to the mega giant- Nike. Vans started as a small shoe company but the rise of skateboarding culture in the 80’s, led Paul to shift his focus from building a company to building a brand.
It hasn’t been all smooth sailing for Vans. After a few good years in business the brand began to slump and in 1984 the company filed for bankruptcy. However, due to the name and growing popularity, Paul was able to successfully sell Vans saving it from bankruptcy. To stage their comeback as a skateboarding brand, the company decided to host the first “Wrapped Tour”, in 1966. The event was a perfect amalgamation between music and skateboarding. After gaining the hearts of many, the event not only is it conducted till date but has also become a world wide success.
In the early 2000’s Vans decided to shift its focus from being just a skater brand to being the ultimate “on the edge” lifestyle brand. With collections done in collaboration with Michael Kors and Supreme- the brand has become one to watch out for.
Today Vans finds its presence in the wardrobes of teenagers, skateboarders, artists and even social bee’s like the Kardashian clan. A company set to fail, has risen to become a billion dollar sneaker favourite and is a true testimony to the power of a successful brand.