WSAs business operations have been purchased by WSA Global Holdings, LLC, a new, privately-held company under CEO Skip Farber and COO Diane Stone, who have directed WSAs efforts for the past three years. In its history, WSA has operated as both a for-profit and non-profit organization. WSAs distributions of assets are consistent with the requirements of tax-exempt entities. Once these distributions have been completed in the near future, the non-profit organization will dissolve.
“This change should be seamless as far as our customers, employees, and business associates are concerned. The only difference will be on paper,” Farber stated. “We took this step out of the recognition of what would allow us to best serve our customers, the marketplace and the business long term. We now have the right structure to make decisions, move quickly, and pursue the kinds of programs, services, and alliances that provide increased value to manufacturers and retailers.
“The WSA board of directors has demonstrated great vision, leadership and courage to effect the kinds of dramatic changes that the organization has needed. By encouraging and supporting the organizations evolution, they enabled WSA to achieve a new position in our industry that will better serve our customers, employees, and colleagues. The future of our business has never been brighter,” Farber concluded.
WSA Global Holdings, LLC will continue to produce the twice-yearly WSA Show trade shows, and The Collections at WSA. In addition to publishing WSA Today and WSAToday.com, the company intends to launch The Shoebook, a web-based reference guide for retailers, in the first quarter of 2007. Plans also call for launching Global Footwear Sourcing at WSA in August 2008, a separate trade show to be co-located in Las Vegas with the WSA Shows and created specifically for designers and sourcing executives seeking new technologies, factories and components for footwear design and creation. The company will pursue new ventures in online and print publishing and data to support footwear manufacturers and retailers.
WSA Global Holdings, LLC like its predecessor, will be based in Encino in the Los Angeles metropolitan area. The company currently operates several divisions including show operations, publishing, and retail relations.
The original WSA was formed in 1947 to sponsor buying markets and to work for the improvement of the shoe industry. The organization has undergone many changes in its history, including the establishment last year of a separate membership organization, WSTA, to provide better benefits and services to independent shoe representatives.
