When he came back to Montreal in the mid 1960s, Bensadoun landed a job as an analyst and was asked to take on a project at a company called Yellow Shoes. Their sustainability team is incredible. The stockroom can take up as much as half of a footwear store. The original striped sign from the first-ever Aldo store, which opened in the 1970s, is hung with pride in the corridors. Powered by Through Junior’s Cliff LP, the founder of the ALDO Group recently paid $10.25 million for a condominium at the Four Seasons Private Residences at The Surf Club in Surfside, Florida, according to public records. Bensadoun launched the group's private-label business, Aldo Product Services (APS), in 2010. Last year, he won FNAA’s coveted lifetime achievement award, and talked to FN about building the shoe powerhouse. Directly before taking the role of group CEO, he was president of the Aldo's North American business unit. By using the site, you consent to the placement of these cookies. The founder in the company’s Montreal headquarters. “When we walked into our stores, all of the 21-year-old employees had heard about Mr. B. Bensadoun’s renewed focus on the Aldo brand paid off, and the company expanded quickly in Canada and beyond. Every year for the past 10 years, Aldo has recorded a 10% year-on-year increase in its ecommerce sales. The exceptions are North America, France and the UK. Today, the firm — which counts about 15,000 employees globally — operates 465 Aldo and Call It Spring doors in the U.S., and about 1,200 additional locations around the world. Yes, you can work hard and succeed, but you should not tramp on people. Everything is geared to create a fulfilling work environment. A privately held company based in Montreal, Canada, Aldo specialises in high-quality fashion footwear and accessories for men and women. The purchase was first reported by The Real Deal. The more you ‘water’ them, the more pleasure you get out of them. Aldo has introduced store tools that enable customers to order products from the store, as well as an app that allows staff to look up stock. The 300,000 sq ft campus building is intended to nurture its creative workforce. B.” But the inspiration behind Aldo Bensadoun’s nickname isn’t as obvious as it seems. Change in rank from 2017: ▼9 He is fiercely passionate about the business, and determined to fuel growth and expansion. At that time there was a stigma attached to it,” he said. I think the companies that have a strong balance sheet and a strong sense of who their customers are, will do very well. The empire began with the first shoe store Bensadoun opened in Montreal in the ’70s; today, these brand names have expanded into the U.S., the Middle East, Europe and Asia. By CB Staff Aldo, which was founded by Aldo Bensadoun in Montreal in 1972, now operates 3,000 stores in more than 100 countries. "Over the years, our company has grown more complex. "We've always been close with Kurt Geiger and have had a great relationship with them," says Bensadoun. “We’re looking at pruning the portfolio, and there will be stores that will close,” Bensadoun said. The comments come amid a tepid market for initial public offerings in Canada, as recently demonstrated by GFL Environmental Inc.’s decision to cancel its IPO earlier this month. “But we’re always looking for new ones and we’re always looking to see which [locations] should close.”, “I think the U.S. will be an area where we will be more critical with our portfolio pruning – our management of the stores.”. © Copyright 2020 St. Joseph Communications. In May Bensadoun announced a $25 million donation to his alma mater McGill to create an interdisciplinary school focused on the retail industry. We are not responsible for any loss that you may incur as a result of relying on these currency conversions. ", "A lot of customers are coming into the stores and realising it's inefficient," adds Bensadoun. He later transferred to Montreal’s McGill University and changed his major to economics. Some cookies are essential to make our site work; others help us improve the user experience. He touches everyone in the same way.”, © 2020 Fairchild Publishing, LLC, a subsidiary of Penske Business Media, LLC.FN and Footwear News are registered trademarks of Fairchild Publishing, LLC. "If you opened your store in the early 2000s and it was 50,000 sq ft, maybe in 2018 you're happy with 3,000 sq ft, but you're still happy to be on that high street or in that mall.". You watch them become more knowledgeable and more successful, and then you start to learn from them,” said Bensadoun, who is as passionate about his employees as the shoes they create. We've been spending a lot of time smashing down the obstacles that would prevent those channels working in harmony. So the idea was to make people aware and give them knowledge about AIDS. The cavernous 300,000 sq ft offices of footwear giant Aldo Group's headquarters in Montreal, Canada, are brimming with history. Bensadoun’s first name has become synonymous around the world with affordable kicks, with some 200 million consumers visiting Aldo-owned stores every year. ALDO is the international destination for quality fashion footwear, handbags and accessories. "The distinctive talents of our creators and designers makes Montreal a top-class leader in the global fashion industry.". “We’re a family-owned business and we enjoy being a privately-held company. Please enter your details below to access the file. Having launched its first transactional website in 2005, he describes the business as an "early adopter". Combining modern functionality with personal touches – including a huge array of art from the Bensadoun collection – the offices also feature gardens, sports pitches, gyms and an enormous, deliciously well-stocked canteen. Today, we are taking a look back at Aldo Bensadoun’s illustrious career. Being on the public markets is not something we aspire to.”. Women's styles retail from £35 for an open-toe sandal to £160 for knee-high boots, and men's from £55 for a nubuck trainer to £180 for a leather brogue. “A lot of people assume it’s because of our last name, but those of us who started using it had something different in mind: a bee,” said David Bensadoun, who has worked alongside his father for two decades. “It’s the same thing with shoes. “We will never go public,” David Bensadoun told BNN Bloomberg’s Paige Ellis. This all begins at the head office in Montreal, which has a growing appeal and reputation as a destination for fashion and retail professionals, drawing talent from across the world. The chief executive officer of The Aldo Group Inc. says he no plans to take the company public. “My dad is the ultimate cross-pollinator. “I liked it so much better than engineering,” Bensadoun recalled. The group operates at a vast scale. Still, he remains deeply invested in the business at home—not just his own, but retail in general. An olive tree, planted by the founding Bensadoun family when the building was built in 2004, sits in prime position in the centre of the atrium as a tribute to eponymous founder Aldo Bensadoun's Moroccan heritage. “We were one of their largest vendors in the world, but we decided we didn’t want to be dependent on them,” he said. Currently, bricks-and-mortar retail sales make up of 53% of the Aldo Group's revenues. St. Joseph Communications uses cookies for personalization, to customize its online advertisements, and for other purposes. Since then, we’ve raised millions of dollars.” (Bensadoun and team have also been ardent fundraisers for cancer research and many other causes. We were in the public. Bensadoun proudly notes that Aldo has removed any negative impact that in-store returns from online orders would have on an individual shop's sales or calculations of performance-related bonuses. Everyone has the right to succeed, and you should enable them to reach their full potential.”, Bensadoun, a dedicated philanthropist, said his vision for Aldo always extended far beyond the company’s own walls. 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Climate-neutral companies measure all the emissions that are put into the atmosphere as a result of their operations, reduce them as much as possible and then offset the rest through investment in renewable resources. Aldo Bensadoun is one of those who encountered such an obscure path and emanated as victorious. ALL RIGHTS RESERVED.1211 AVE OF THE AMERICAS NEW YORK, NY 10036 | info@mansionglobal.com. Designed as a private spot for luminaires to lounge in the sun, guests over the years included Frank Sinatra, Dean Martin, Elizabeth Taylor and Winston Churchill, according to its website. It is meant only as an approximation based on the latest information available and should not be relied upon for any other purposes. Within 18 months, it was "a $100m (£77m) business", and in 2017, Aldo's private label customers sold shoes to the value of more than $1bn (£770m). An olive tree, planted by the founding Bensadoun family when the building was built in 2004, sits in prime position in the centre of the atrium as a tribute to eponymous founder Aldo Bensadoun's Moroccan heritage. (Vince Camuto won the same award in 2013.). They are a small team, but one of the most technically astute I have personally worked with. We had a captive audience, and it was like being at home and being supported by your parents,” Bensadoun said. He jokes that, when it comes to property, retail is facing a "reckoning", and says it is due a huge adjustment in the approach to bricks-and-mortar stores. We need to bring those tools into the physical world.". “Aldo had the foresight to see that the business and end consumer was evolving very rapidly. He continues: "When it comes to consumer goods, apparel and footwear, Aldo are definitely the leaders [in sustainability]. Through the Aldo Group, Bensadoun is the owner of the shoe shops Aldo, Call It Spring and Globo. The leather tanning process – which can involve harmful chemicals – and improving the sustainability of synthetics are also areas of focus.
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