Pensole seeks support for next generation of footwear designers
Pensole Footwear Design Academy, the US-based college set up by former Nike executive D’Wayne Edwards, is seeking outside investment to help it grow and to continue to offer free places.
Mr Edwards founded Pensole to give students, regardless of socioeconomic background, an opportunity, and to provide the industry with a farm system for the next generation of footwear designers. More than 85 graduates have been placed professionally since its launch in 2010.
He said: “Since 2010, I have funded Pensole from my personal income and it has grown into one of the premier academies worldwide. Today we are excited to welcome the public as partners in building an academy that will continue to discover, develop and place the future of the footwear industry.”
Pensole is issuing 50,000 shares at $150 each. Though the shares do not have investment value, a ‘Soleholder’ will receive a tax deduction, a certificate and voting rights.
Mr Edwards’ impressive CV includes becoming head footwear designer for LA Gear aged 23; being one of only six designers to design an Air Jordan; and launching his own brand aged 28. He has designed more than 500 styles for a number of brands, with sales of more than $1 billion worldwide.
