Welcoming Kizik to The Newcastle Network with a $25 million Series B
I vividly remember the first time I put on a pair of Kizik shoes. (On)…interesting…(off then on again)…wow…(off then on again)…these are amazing! They looked great, felt great, but the mental reset from experiencing the market’s first hand-free shoe was immediately special. It quickly became something I found myself turning to every day. I’m not alone: about two thirds of customers wear their Kizik shoes four to five times a week.
People today have more going on than ever before. Between jobs and “side hustles,” going to school or caring for kids, and finding time to balance fitness, hobbies, personal life commitments and errands – people are maxed out. Kizik is the shoe for this modern life. They deliver these little moments of joy as you transition from one activity to the next, without any compromises in style or comfort.
As a consumer-focused private equity fund with disciplined investment criteria and a high bar for partnership, we see Kizik as a true embodiment of a Newcastle portfolio company. Kizik has an exceptional, differentiated product in a space that’s gaining significant momentum, very strong fundamentals and competitive advantages, and a high integrity, incredibly creative and innovative team. This all points to a profound opportunity to reshape the footwear industry and support people nationwide with effortless, amazing footwear products.
The market’s first hands-free shoe
It is quite an experience to take something you have been doing nearly every day for as far back as you can remember and have it get so much better. If it was easy, someone would have done it long ago. But it wasn’t–and Kizik figured it out, delivering the best hands-free footwear experience in the market. The shoes instantly proved to be an item I couldn’t imagine being without, even if I didn’t initially realize how much I needed them.
At The Newcastle Network, we’ve been closely following several prominent consumer trends related to convenience, simplicity, and utility as people are increasingly seeking out productivity enhancers that save them time and energy. Kizik’ hands-free shoes, which require no tying, no pulling, no heel crushing, no hands, hit the nail on the head in response to what consumers want and need.
With the new kids line that just launched last month and a host of other product innovations underway, we’re confident that Kizik will soon be a staple for people all over the nation.
Defined competitive advantages in a growing market
The footwear space has strong tailwinds – it’s a massive, growing market with continued demand with an increased focus on casual shoes that provide comfort, style and convenience. Kizik has met this opportunity by creating a new category that’s capitalizing on some of these most prominent recent trends, and is anchored by a deep library of 130+ patents to continue pioneering this category.
The execution of the team speaks for itself: Kizik’s sales increased by 400% last year. Their existing customers continue to come back for more, often increasing their purchase amount with each subsequent order, with over a third of revenue currently coming from repeat customers. Additionally, the most recent model of Kizik’s shoe is already its best selling.
While Kizik is already the leader of a new category, they have a meaningful runway ahead, including opportunities for expanded channel distribution (both online and offline), increased influencer and creator marketing, and deepened brand equity among all types of consumers. In our months working together, the growth of all three has been remarkable.
An unparalleled, high-integrity team
At The Newcastle Network, we are painstakingly selective about who we partner with. We don’t just see companies as investments, we treat them as deep, long-standing business growth partnerships where we provide hand-on strategic support in any climate. This means we are deeply committed to only working with exceptional, high integrity teams.
The people at Kizik are simply awesome. Led by CEO Monte Deere, the team combines decades of experience from leading brands in the footwear and consumer products categories. Together, they have built a values-focused culture grounded in respect and inclusivity, which is palpable in every interaction.
With an incredible team, market, and product, Kizik is leading the next evolution of convenience footwear through its differentiated technology. We are honored to play a role and help accelerate their growth by closely partnering with the team and leveraging our expertise in data science, creator and social media marketing, entrepreneurship and innovation.
If you haven’t already, check out Kizik’s hands-free shoes and order your first pair. You won’t want to take them off.