Joyce Groote, President and CEO - Holeys

Joyce Groote, President and CEO
Holeys

Joyce Groote is as comfortable attending meetings at the United Nations on biotechnology protocols as she is developing new products for her company, Holeys, which is best known for its line of fun, colourful, and comfortable foam shoes.

After two degrees in genetics and 20 years in the biotechnology sector - she was the first person ever to clone a tree gene - Joyce decided to leave the world of science and academics behind. She moved to Vancouver, looking to try her hand at entrepreneurship. As luck would have it, the opportunity lay in her own backyard.

One of her neighbours, a psychologist-turned-entrepreneur, had started Holeys (then named Holey Soles) in her garage in 2002, and needed some help running the business.

Joyce jumped at the chance. She became a business partner and shareholder in Holeys in 2004. She immediately developed a strategic business plan, and moved the business out of the garage and into a 3,000 sq. ft. facility. Later that same year, she bought out the other business partners and moved the company into a larger facility which has since expanded to an 85,000 sq. ft. facility in Richmond, B.C. and another, 55,000 sq. ft. facility in the U.S.

Demand exploded for the original neon foam clog. People fell in love with them. When Groote bought out her business partners in 2004, Holeys had $60,000 in annual sales. In 2008, sales had grown to just under $18 million. Joyce admits that the current recession has been tough, but: "It's also presented us with a great opportunity to 'cut the fat', focus, and reinvent Holeys with a new line-up of products for the Home and Garden market, which opens up a whole new area for us."

About Holeys
Holeys designs and manufactures a "new generation" of fun and functional lifestyle wear. Holeys' original neon-bright foam clogs, plus a brand new selection of foam shoes with Holeys' trademark holes and innovative product lines, are sold in over 30 countries worldwide. Holeys uses injection foam molding technology for its products. The scientific foam-injection and thermo-rubber slip resistant treads work together with Holeys' unique memory foam to provide comfort and support.

Early and dramatic success led to fierce competition between Holeys and Crocs(r), the world's two largest manufacturers of the iconic clogs. Today, Crocs(r) and Holeys remain competitors only with respect to the original, neon-bright foam clogs. Joyce Groote has guided Holeys' transformation into a distinctly different company by diversifying its product line, developing leading-edge technology, and building a strong corporate culture.

Additional achievements

• Profit Magazine, Hot 50 :Emerging Growth Companies 2006 – No 1
• Profit Magazine, Top 100 Women 2006 – No. 91
• Profit Magazine, Hot 50: Emerging Growth Companies 2007 – No. 4
• Profit Magazine, Top 100 Women 2007 – No. 34
  

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