Image via Complex Original
As high-end sneakers continue to capture the footwear market and hold it hostage, the leader in the clubhouse, Common Projects, is still very much a small-scale operation. Over at The Business of Fashion, our Deputy Editor and menswear blogging carpetbagger extraordinaire, Jian DeLeon, dropped a drone strike of a profile on Peter Poopat and Flavio Girolami, the co-founders of the brand. Thanks for nothing, pal! In our world, Common Projects seems like one of the biggest sneaker brands in the world. Their hold on minimal sneaker design is so strong that when Dover Street released a blank Stan Smith this summer, people called it a CP ripoff, even though Stans came out about 50 years prior.
Both Poopat and Girolami were sneaker enthusiasts before they started the brand, but were looking for a shoe that was more elevated and understated. Girolami's connections in Italy allowed the two to mock up some samples they had in mind and as models came out of production, the CP signature took shape. Those signature gold foil serial numbers of the size, color and style originally appeared on the tongue before being moved to the outside heel of the sneaker, creating what is now an iconic look. Originally, they could even be rubbed off if the customer didn't like them. As they showed their first collection, retailers fell in love, but the early years of the brand saw prices a little too low to turn a profit: The Achillies retailed for $265 in 2004 and, ten years later, now hovers around $400.
A decade into the business, CP has 150 stockists around the world and brings in about $10 million per year in revenue. While Jordans rule the secondhand market, CPs still routinely go for $250+ even when worn. These days, the brand has designer collaborations with the likes of Tim Coppens and Robert Geller, adding new silhouettes, like hiking boots and zippered oxfords, to the mostly parred down selection. Maybe most interesting, because the company grew off the duo's initial investment from their own pockets, they don't have to worry about satisfying investors with profit margins. Today, Common Projects' entire operation is just five people with offices in both New York and Italy. Regardless of scope, I think it's safe to say, so far so good for arguably the best sneaker brand in the world.
