Famous Footwear

Famous Footwear is a popular chain of retail stores in the United States that offers branded footwear at prices lower than the manufacturer's suggested prices. Founded in 1960 as Neil's Factory Shoe Outlet by Neil Moldenhauer, the company opened a second store in Cedar Rapids, Iowa in 1964 and adopted the name "Famous Footwear." By the end of the 1960s, the chain had eight Famous Footwear and Neil's Factory Shoe Outlet stores in operation, with combined annual revenues approaching $1 million. In 1974, all stores in the chain were unified under the Famous Footwear banner. A leveraged buyout led by longtime employees Dave Orfan and Brian Cook, along with a group of outside investors, purchased 90% of the chain from Moldenhauer in 1974. Orfan initially assumed the role of president with Cook as executive vice president, a relationship that changed in 1979 when Cook became president. Famous Footwear became an attractive investment opportunity for the St. Louis-based Brown Shoe Company, which acquired the firm and immediately set about planning for rapid expansion. By 1986, the chain consisted of 230 stores.

Today, Famous Footwear has more than 1,126 retail stores in the United States, including 947 Famous Footwear stores and 179 thematically structured outlet stores. The company offers a variety of footwear for men, women, and children at affordable prices, making it a favorite among budget-conscious shoppers. In addition to its retail stores, Famous Footwear has also launched five athletic-driven stores named "Mind Body Sole," intending to show manufacturers like Nike, Reebok, Brooks, Asics, Adidas, and Mizuno that it had the capability to sell these items through commitment to training and customer service. The company aims to add another 400 to 500 stores in the long-term and continue providing customers with the best value in footwear.