theceomagazine.com | 131Semasi is staying on trend and meeting the
speed to market that its clients are looking
for. “Once they decide they want to disrupt
their product,” he says, “we have our team
work directly with them.” This also builds
close relationships based on shared values of
trust, integrity and innovation. This is
something, Richard says, is an important
focus for the business, as well as equipping
staff with the skills required to deliver on
Semasi’s commitment to the highest quality
in manufacturing.
“We are firming up the organisation,”
he says. “We are looking at improving our
practices to increase operational efficiency.
We have also developed a management
training program for our leadership team.”
As Semasi strides towards the future,
Richard is certainly aware that just like the
footwear, the company itself needs to stay on
top of current trends, embracing innovation
in both machinery as well as industry
practices, working closely with its suppliers
and buyers. “We treat them as partners
with excellent communication and a clear
ability for understanding. So, if there is ever
any problem, we always try to find a win–
win solution.”
BUSINESS IS
BOOMING
A study published in September
last year by Global Industry
Analysts Inc reports that the global
footwear market is predicted to
reach US$430 billion by 2024. It
attributes this rise to six key factors:- increased participation in sports
and fitness activities leading
to an increased demand for
athletic shoes; - an expanding middle class
and rising disposable incomes,
especially in Asia; - the rise in popularity of
eco-friendly footwear; - the rapid pace of urbanisation
in developing countries; - the emergence of new design
and manufacturing concepts,
such as 3D printing and
custom-made shoes; and - a ballooning global population.