Midwest Shoe Merchants is looking ahead and thinking about succession planning.
The shoe retailer has updated its leadership and governance structure and plans to expand its board of directors to include both family members and external advisors who can bring additional expertise and perspective.
The company’s majority owner Jim Sajdak will continue to serve as board chairman, while his wife Susan Sajdak will continue in her role as vice chairmen. Their son Andy Sajdak also will remain on the board, but he will step down from his position as director of operations.
The current leadership team includes third-generation co-owners David Sajdak as CEO, and his siblings Megan Sajdak Holtan as chief strategy and marketing officer, and Ben Sajdak as chief operating officer.
David Sajdak noted that it was his grandfather Stan who began the business in 1950, “so this is our 76th year in business.”
The CEO has been involved at the Brookfield, Wis.-based family business for 27 years. He was most recently the director of merchandising before becoming CEO earlier this month, succeeding his dad Jim.
On board membership, the executive said, “We are in the search process right now. The plan is to have by the end of the year at least another three external board members.” He added that it’s important to have external suggestions and advisement on the ever-changing retail world. “And to be successful, we need a board of outside advisors for sure,” Sajdak added, noting that the company is already in talks with a few candidates.
As for skill sets and expertise, Sajdak said they are looking at everything from knowledge about retail concepts to expansion, acquisitions and every thing else in-between.
“We want to continue this legacy that my grandfather started in 1950, so we just need to make sure that we’re able to see every little nook and cranny operated in the most efficient way without losing our identity,” he said.
There are currently six people on the board, five family members and one outside advisor.
And while the goal is to evolve in a way that fosters sustained growth beyond the third generation, Sajdak emphasized one key factoid that won’t change: “We just have to stay true to ourselves.”
He spoke about a customer that he worked with earlier this month who has been shopping at Stan’s for 74 years. “You know, it brings a huge smile to your face — the amount of trust [and comfort] people out there have that we’re able to take care of….it’s been an interesting couple of years since COVID and we obviously have had some distractions, politically the global climate has changed….”
According to Sajdak, staying true to the family’s core values include continuing to provide “that great fit experience that our customers expect. Customer service, I feel, [has] become less and less out there, and we will continue to make sure that our customers get the best experience when they walk into our store.”
And while much of retail has incorporated big box locations and chain stores, Sajdak said it’s the locally owned business in a surrounding area that is what makes the community rich.
“Our online business is important to us. We carry great product, [but] I think the consumer is still hungry for the locally owned [store] focused on knowing what people in that region want and I think that will continue to strengthen,” he said.
In addition to scouting for shoes and brands to bring unique products for its customers, Midwest Shoe also has a private label line that complements its branded assortment mix.
“The consumer expects you to have the top, top brands. So, [as an example,] Birkenstock — you better have them because that what the consumer is looking for. And once they’re in your store, you can expose them to unknown brands that we’ve found over the years,” he said. “We’re great at building, discovering brands, testing brands and finding something else that might work… Sometimes you have to take the risk and see how it lands.”
The family-owned business operates seven shoe stores under the banners Stan’s Shoes, Goodmiles Running Company, The Vionic Store by Stan’s and Waxberg’s Walk Shoppe. The largest door is shy of 8,000 square feet, although most average around 5,000 to 6,000 square feet.
