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PRESS RELEASE, APRIL 7, 2009
Footbalance from Finland storms the US market
Footbalance, a manufacturer of customized insoles, is making a swift assault on the American market. It first made contact with the world’s largest running store, Road Runner Sports, last October. Seven weeks later, Footbalance products hit the shelves in the USA.
The product range has been launched throughout the chain on a tight schedule. At the moment, Footbalance is available at 17 outlets, and by the beginning of July all 22 outlets in the chain will be offering the Footbalance service. The five year contract translates into annual sales of about EUR 1 million for Footbalance through the chain.
Road Runner Sports has been in the business for 30 years and is known for its expertise and excellent customer service. Approaching the chain with the idea of its becoming the first Footbalance reseller in the USA was suggested by Scott Lem, who is involved in the GAP project at UCLA sponsored by the Finnish Funding Agency for Technology and Innovation (TEKES). “The good reputation of Road Runner Sports as a world leader in sports equipment retail sales to runners lends us credibility and will be an excellent calling card for us in negotiations with other major US chains,” says Patrik Louko, managing director of Footbalance System Inc, the US subsidiary of Footbalance.
Only one week after the first contact, representatives from Road Runner Sports came to Finland to see the Footbalance concept in action. They had been seeking a system for customized insoles for about a year, and they had already chosen another supplier. However, they soon switched over to Footbalance.
“The Footbalance launch in San Diego surpassed all our expectations, and we are now introducing the concept at all our outlets. Road Runner Sports is known for its expertise, and Footbalance strengthens this image. We believe that the Footbalance concept will be a great success,” says August Dyess from Road Runner Sports happily.
Footbalance, launched on the Finnish market in 2007, has chosen a challenging internationalization strategy: the more demanding markets it successfully penetrates, the easier it will be for it to expand to other markets. “For example, Norway is notorious for being the most demanding and technically advanced market for sports equipment in the world, and we are therefore naturally interested in the Norwegian market. Within the space of one year, Footbalance has been established at 80 Intersport outlets in Finland, and by summer all 130 outlets in the chain will have adopted it,” says Erkki Hakkala, the founder and principal owner of Footbalance.
“American consumers, on the other hand, have a reputation for being the most demanding in the world. They are also not shy at giving feedback, which is crucial for us. And naturally we are happy that the feedback has been positive,” Hakkala notes.
Further information: Erkki Hakkala +358 50 368 7713; Managing Director Antti Pihlakoski +358 400 408 064; Patrik Louko +358 44 0866 366
Requests for photographs: Hilkka Koskenranta, hilkka.koskenranta
footbalance.com +358 40 574 4445
Footbalance System Ltd. is a Finnish company established in 2003 with the aim of collaborating with health care and exercise experts to improve consumer wellbeing through innovations to increase comfort when walking. The company is based in Helsinki, Finland.
Footbalance customized insoles support correct foot position and improve footwear comfort while preventing and correcting foot malpositions. They are suitable for everyone and adaptable to all footwear, from everyday shoes to sports shoes and boots.