20 Sep Xero Shoes Closes $2.3M Deal With JPMorgan Chase
Xero Shoes just announced the successful completion of a $2.318 million debt transaction with JPMorgan Chase Bank.
Xero Shoes plans to use this debt capital to support their already rapid growth, increase their product line and marketing efforts and refinance existing debt.
Inc. Magazine reports that Xero Shoes has three-year growth of 617 percent, with 2017 sales of $5.53 million. Lena Phoenix, Xero Shoes co-founder and CFO, said, “We expect that 2018 will again show the rapid growth we’ve seen in the last three years.”
Xero Shoes manufactures addictively comfortable, lightweight, performance and casual sandals and shoes built with a “foot-first” design. Durable, stylish and affordable, Xero Shoes supply the fun and benefits of natural, barefoot-inspired movement, plus a layer of protection and comfort. Customers ages 2 to 92 in 97 countries wear Xero Shoes for walking, hiking, yoga and gym-going, kayaking, rafting, paddle boarding, jogging and even running hundred-mile ultra-marathons.
Says CEO and co-founder, Steven Sashen, “We’re thrilled that Chase’s support will help us spread our movement movement around the world, one foot at a time.”
This year, Xero Shoes was No. 818 in the Inc. 5000 (up from No. 1753 last year), was named one of the 50 Colorado Companies to Watch, was recognized as one of the top 100 Women Owned companies in Colorado and was a Biz West Mercury 100 winner for the third time in three progressively higher revenue categories.