Interested in starting your own entrepreneurial journey in fashion but unsure what to expect? Then read up on our interview with Paul Farago, CEO of Ace Marks, located in Miami, FL, USA.
What's your business, and who are your customers?
We manufacture and sell direct-to-consumer men’s luxury footwear and accessories that are handcrafted in Italy and sold directly to the consumer at accessible price points. A $600+ Italian dress shoe for half the price, and we buy them back.
Our customers are primarily men between the ages of 25-45 who are professionals and/or like to dress really well. Our customer cares more about quality, craftsmanship, and comfort than anything else.
Tell us about yourself
I have been in the shoe business all of my life. My family has been manufacturing and distributing shoes since I was very young. As a result, growing up, I spent most of my summers in Italian shoe factories, at tradeshows, and shipping shoes in the warehouse.
In about 2012, I was flying back from a tradeshow in Dallas and looked at the scratched-up shoes on my feet that I had paid close to $300 for. They were a major brand name, made in Asia, and the scratched black leather was turning green. It was the 3rd pair of the same style that I had purchased in less than a year. I knew that at that price point, I could probably sell handcrafted Italian shoes by using a direct-to-consumer business model. So, I started working on it.
I spent a few years doing research & development and forming the foundation that would become Ace Marks. Our first luxury Italian men’s dress shoe collection launched on Kickstarter in 2016 and quickly became the most-funded footwear project in crowdfunding history, raising $574K. Across five campaigns, we have raised around $3.5M on Kickstarter, a platform that we mainly use to launch new product concepts.
What motivates me each day is knowing that we are delivering an exceptional luxury product at an exceptional value while making men feel better and more confident about themselves every day. With that confidence comes the ability to tackle your daily goals and achieve your long-term dreams.
What's your biggest accomplishment as a business owner?
Surviving the pandemic. Our category took a big hit during the pandemic, and it exposed a lot of weaknesses in our corner of the DTC world. Thankfully, we've always taken a fundamentals-first approach to our business and make sure that we are healthy enough to get through some rough patches.
What's one of the hardest things that comes with being a business owner?
It's very difficult to set boundaries between your work and personal life. There's always something that needs attention, work that needs to get done, and plans that need to be made and executed.
What are the top tips you'd give to anyone looking to start, run and grow a business today?
- Don't succumb to analysis paralysis. Just get started and know that whatever you plan before you start will likely end up going out the window.
- Have confidence in yourself to overcome obstacles.
- Network and surround yourself with great people to learn from.
- Listen to your customers.
Where can people find you and your business?
Website: https://www.acemarks.com/
Facebook: https://www.facebook.com/acemarksshoes/
Instagram: https://www.instagram.com/acemarksshoes/
Twitter: https://www.twitter.com/acemarksshoes
LinkedIn: https://www.linkedin.com/company/ace-marks/
If you like what you've read here and have your own story as a solo or small business entrepreneur that you'd like to share, then please answer these interview questions. We'd love to feature your journey on these pages.
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