The footwear industry has been constantly adapting to meet shifting market demands. In recent years, we have witnessed a surge of new footwear companies in the market, each bringing innovative approaches to the world of footwear. These entrants leverage AI, 3D printing, automated measurement tools, and sustainable practices to enhance manufacturing processes, improve product quality, and redefine the customer experience. The introduction of smart footwear and wearable tech is revolutionizing how we interact with our shoes, offering new levels of comfort, performance, and customization.
The article will provide data-driven insights into:
Key Takeaways
Drawing insights from the Big Data & AI-powered StartUs Insights Discovery Platform that provides data on over 4.7+ million emerging companies globally, we explore the evolving landscape of the footwear industry. This sector is marked by key trends and a substantial workforce, shaping its future. Here are some key insights at a glance:
- Footwear Industry Trends: Pivotal trends in the industry include AI, sustainable materials, smart footwear, 3D printing, immersive technologies, and collaborative robotics. These innovations streamline operations from product design and development to manufacturing, marketing, and sales, enhancing the overall shopping experience.
- Footwear Industry Stats: The footwear industry consists of 50.6K companies and has seen 7.3K new companies emerge in the past 5 years, with an average founding year being 2020. The average funding has been approximately 16.5 million, underscoring active economic activity within the sector. Further, the industry records an average workforce size of 18 employees in the past 5 years.
- 10 New Footwear Industry Companies to Watch:
- HandsFree Labs – Arc Shoe Technology
- FootSnap – 3D Scanning Measurement Tool
- Movmenta – Footwear Smart Sensor
- Freeaim – VR Shoes
- Solei – AR Foot Sizing Tool
- Futures Factory – Footwear Creator Platform
- iHeel – Adjustable Heel Technology
- Balena – Bio-based Thermoplastic Materials
- CELA Technology – Immersive 3D Visualization Tool
- mySHOEFITTER – Automated Digital Shoe-sizing Tool
Discover 10 Out of 7.3K+ Emerging Footwear Companies
In this section, we spotlight 10 emerging footwear companies driving innovation in manufacturing practices. These innovators are actively addressing environmental concerns while adapting to shifting market dynamics. By incorporating advanced manufacturing practices, 3D technologies, and sustainable materials, these companies are reshaping the standards within the footwear industry.
Note on Signal Strength
One of the unique metrics we feature for each company is Signal Strength, a proprietary data point generated by our Discovery Platform. It gauges the extent to which a company’s influence has permeated the global ecosystem of startups, scaleups, and emerging companies. This proprietary metric serves as a valuable guidepost for understanding a company’s standing in the broader market landscape.
1. HandsFree Labs
- Founding Year: 2019
- Employee Range: 11-50
- Location: United States
- Signal Strength: Very Strong
- What they do: HandsFree Labs builds hands-free technology for footwear brands to simplify the shoe fitting process. The product provides hands-free functionality with aerospace-grade titanium and can be incorporated into various types of footwear. This solution assists in easily putting on and taking off shoes without compromising comfort and flexibility. Using hands-free technology enables footwear brands to enhance the overall shopping experience, allowing customers to find the perfect fit with ease.
2. FootSnap
- Founding Year: 2019
- Employee Range: 2-10
- Location: Switzerland
- Signal Strength: Very Strong
- What they do: FootSnap provides a 3D scanning measurement tool for online shoe retailers to reduce returns caused by sizing discrepancies. The scanning procedure simplifies footwear purchases by enabling customers to receive precise foot measurements and tailored fit recommendations. FootSnap enhances customer loyalty through decreased returns and heightened customer satisfaction. This leads to an increase in revenues for retailers and reduces waste from unnecessary returns.
3. Movmenta
- Founding Year: 2022
- Employee Range: 2-10
- Location: United Kingdom
- Signal Strength: Medium Strong
- What they do: Movmenta develops a smart sensor integrated into running footwear for the sports industry. The sensor technology and data intelligence measure sole absorption evolution over time for runners aiming to enhance athlete performance and prevent injury risks. Further, it communicates with a specific app on a smart device to present footwear performance and provide sports brands with a direct channel to their customers. This solution aids athletic brands in creating tailored applications that provide users with historical data, projections, and remaining usage of footwear through smart devices.
4. Freeaim
- Founding Year: 2021
- Employee Range: 2-10
- Location: United Kingdom
- Signal Strength: Very Strong
- What they do: Freeaim designs VR Shoes tailored specifically for businesses and professional applications, including industrial training simulators, medical rehabilitation, fitness, entertainment, or retail purposes. The VR shoes leverage sensor technology and data analytics to detect user movement and walking patterns, instinctively correcting a user’s position. The company provides immersion, bringing more realistic VR movement to gaming, fitness, training, and more, thus enhancing the overall user experience.
5. Solei
- Founding Year: 2021
- Employee Range: 2-10
- Location: United States
- Signal Strength: Medium
- What they do: Solei creates an AR foot sizing tool that integrates with e-commerce sites to match online shoe shoppers with their best fit. The integrated conversational assistant offers personalized shoe fittings and recommendations on online stores. Further, the company provides a dashboard for footwear brands to compare how the fit impacts metrics such as sales, customer engagement, inventory, and returns. The solution bridges the gap between mismatched sizing and online shoppers, enabling brands to retain customers, optimize inventory, and boost profit margins.
6. Futures Factory
- Founding Year: 2021
- Employee Range: 2-10
- Location: France
- Signal Strength: Very Strong
- What they do: Futures Factory develops a footwear community-owned platform to design footwear. The platform provides resources and tools for creators to launch their innovative footwear projects, virtual wearables, or phygitals, while collectors gain influence by collecting sneakers and being active in the community. Futures Factory utilizes a web3 framework that provides creators with new opportunities for monetization and ownership of their designs.
7. iHeel
- Founding Year: 2020
- Employee Range: 2-10
- Location: Italy
- Signal Strength: Strong
- What they do: iHeel utilizes adjustable heel technology for footwear brands to design stylish shoes that fit a wider range of sizes. The ability to adjust the heel height reduces the risk of product exhaustion and contributes to sustainability by reducing the overall number of shoes that are discarded or replaced. By reducing production costs and inventory risk, footwear brands create more profitable shoe lines and enhance the fitting experience for consumers who prefer different heel styles.
8. Balena
- Founding Year: 2020
- Employee Range: 2-10
- Location: Israel
- Signal Strength: Very Strong
- What they do: Balena produces bio-based thermoplastic materials for more durable footwear while reducing the use of toxic, fossil-based materials. It offers a sustainable alternative to traditional shoe components, allowing footwear brands to create eco-friendly shoes without compromising on flexibility or performance. Further, the biodegradable material is used in regular injection molding processes as well as 3D printing. Balena contributes towards circularity, enabling shoes to biodegrade at the end of their lifespan, thus minimizing environmental impact.
9. CELA Technology
- Founding Year: 2019
- Employee Range: 11-50
- Location: Canada
- Signal Strength: Very Strong
- What they do: CELA Technology offers an immersive 3D visualization tool to enhance footwear eCommerce platforms. This solution utilizes generative AI to create high-quality 3D models of retailer’s products, allowing shoppers to view them through their mobile phones. Further, it enables footwear retailers to personalize virtual showrooms, boosting conversion rates, customer engagement, loyalty, and sales. The company provides engaging online shopping experiences for retailers and shoppers alike.
10. mySHOEFITTER
- Founding Year: 2020
- Employee Range: 2-10
- Location: Germany
- Signal Strength: Very Strong
- What they do: mySHOEFITTER develops an automated digital shoe-sizing tool for e-commerce. Using AI, it recommends the correct shoe size to customers based on photos of their feet during online ordering. The app seamlessly integrates with online stores and matches measured foot dimensions with inner shoe dimensions in the database. Employing complex image analysis algorithms paired with deep learning (AI), it measures the customer’s foot with millimeter precision. This solution minimizes returns, optimizing customer experience, profitability, and environmental protection.
Tips to Quickly Find New Footwear Companies
Utilizing a SaaS platform like the Discovery Platform for identifying new footwear industry companies provides significant benefits compared to traditional scouting methods:
- Streamlined Efficiency: The Discovery Platform offers advanced tools that streamline the scouting process. It replaces hours of your conventional desk research, saving time and resources in identifying footwear innovations.
- Access to Real-time Insights: Gain a competitive edge with up-to-date information on the latest trends in the footwear industry. The platform keeps you informed with near real-time updates on emerging footwear companies and news, enabling you to make swift and informed decisions.
- Tailored Exploration: Customize your search to focus on specific niches within the footwear sector, such as additive manufacturing, 3D visualization tools, or sustainable footwear. The platform’s diverse filtering options allow you to target your scouting efforts precisely, ensuring that you find the most relevant and groundbreaking companies in the field.
Ready to Explore All New Footwear Companies?
This overview highlights just a few footwear solutions of all 7.3K new companies currently covered by the Discovery Platform. To explore them all, book a personalized demo or download one of our free Industry Innovation Reports for a quick overview.
