I don't have eyes for fashions. But a pair of shoe companies recently caught my attention. They are not exactly mirror images of each other, but I think they make a good pair in a value investor's portfolio.
The shoe biz is no show biz, especially the Men's dressing shoe category. Men's dressing shoes look today just like they looked a generation ago. But that is exactly what Weyco Group (WEYS, Financial) is counting on - the staying power. Weyco has been making men's dressing shoes for more than 100 years. Its main brand, Florsheim, dated back to 1892, and enjoys the No. 1 brand-name awareness in its category. Weyco bought Florsheim in 2002 when the latter went into bankruptcy. History ran in full circles - The Florsheim family sold the Florsheim business in the 50s, and later brought interests of Weyco. Now the family runs Weyco, and Florsheim again.
The shoe biz is no show biz, especially the Men's dressing shoe category. Men's dressing shoes look today just like they looked a generation ago. But that is exactly what Weyco Group (WEYS, Financial) is counting on - the staying power. Weyco has been making men's dressing shoes for more than 100 years. Its main brand, Florsheim, dated back to 1892, and enjoys the No. 1 brand-name awareness in its category. Weyco bought Florsheim in 2002 when the latter went into bankruptcy. History ran in full circles - The Florsheim family sold the Florsheim business in the 50s, and later brought interests of Weyco. Now the family runs Weyco, and Florsheim again.
