Spira Footwear is offering anyone who can win the Boston Marathon in their shoes a $1 million prize, paid out over the course of 20 years. During an interview on Forbes.com, company CEO David Krafsner said that so far two Kenyan runners are the only ones to take him up on the offer. Spira footwear uses small springs imbedded in the midsole of their shoes as a differentiating technology. This technology was outlawed for use by competitive runners last year and there has been no decision on whether or not Spira shoes will be legal in the race this year.
Krasfner said that the company is projecting revenues of roughly $8 million in 2006 and has sold over 200,000 pairs since the company started in 2001. Spira is implementing several guerrilla and grass roots-marketing campaigns to gain attention to their outlawed shoes. Krasfner said that it would actually be a competitive advantage for his business if the shoes were outlawed again.
