Word: steve
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Walk into Steve & Barry's sprawling New York City store, and a perplexing sign greets you: DUE TO LIMITED SUPPLY AND TO BE FAIR TO ALL CUSTOMERS, STARBURY FOOTWEAR IS LIMITED TO TEN PAIRS PER PERSON, PER DAY. Yeah, right. Ten pairs of quality, star-endorsed basketball shoes? Don't you need a second mortgage for that...
...since Steve & Barry's, the fast-growing retailer, and Stephon Marbury, the oddball NBA point guard, got behind the Starbury brand. Their message: You don't have to break the bank for a sweet pair of sneaks...
...years, ridiculously priced brand-name shoes have dominated athletic footwear: LeBron James' new shoe, from Nike, costs $140; the latest Air Jordans rise to $175. In fact, kids have been killed for the latest "cool" sneaker. But the Starburys, sold exclusively at Steve & Barry's, cost just $14.98, and consumers have been scooping them up like shrimp at a buffet. In the two months after their August 2006 debut, Steve & Barry's sold over 3 million pairs. And the cheap-shoe love has lasted. "C'mon, this is the best thing that has happened in a long time," says Curtis...
More millionaire athletes are joining this anti-Nike movement. Chicago Bulls center Ben Wallace will release his $14.98 Big Ben shoe under the Starbury label on Nov. 5. In a true coup, Steve & Barry's also signed tennis star Venus Williams to market a line of shoes and clothing called EleVen. On a scale of 1 to 10, Williams boasts, "It's a step above the best." EleVen debuts Nov. 15; nothing is over...
...Starbury brand has helped raise the Steve & Barry's profile. The retailer is known for its cheap casual and college-themed clothes and was looking for a way into athletic footwear when it got word that Marbury also wanted to market an inexpensive shoe. The privately held company had 120 outlets before the Starburys launched; it will have 270 by year-end. Its president, Andy Todd, admits margins are "tight" on a $15 sneaker, but the company controls costs by spending little on advertising, for example--letting the stars generate the buzz...