The managing director of Schuh believes selling the business to Genesco makes good commercial sense, and is aiming for rapid expansion. By Gemma Goldfingle

Colin Temple, Managing director, Schuh

Career history

2003 to present Managing director

1998 to 2003 Merchandise director

1982 to 1998 Merchandiser

Colin Temple reinforced his reputation as one of the nice guys of retail when his staff benefited to the tune of £37.3m from last week’s deal to sell Schuh, the shoe retailer he runs.

“Our staff are fantastic and they deserve to see the benefit. They’ve made the business what it is and made my job easy - I don’t have to do any work myself,” he quips.

Schuh’s 3,000 staff will share some of the proceeds following the chain’s £125m acquisition by US retailer Genesco - which came as surprise to most observers.

“We weren’t for sale,” maintains Temple. “Genesco approached us and the move made strategic sense. It was a good fit - there are lots of similarities between Schuh and one of its chains, Journeys. And importantly, Mark [Crutchley, Schuh finance director] and I got on with the people.”

Temple and Crutchley - who owned 75% of the footwear chain - will net £25m each from the deal, but the earn-out depends on them remaining at the retailer.

“The only thing that will change is that I’ve got a boss,” says Temple.

The Teessider has been at Schuh for most of his working life. He joined the Livingston-based chain as a merchandiser back in 1982 after training through Woolworths’ graduate scheme. After being appointed managing director in 2003, he and Crutchley participated in a management buyout in 2004.

His colleagues are at the heart of Temple’s management methodology, which he says is focused on “people, product and processes”. It’s an approach that has worked even during tough times.

The retailer posted record results in its last financial year to March 28, when it delivered a 21% rise in EBITDA to £17.3m and a £12m sales uplift to £146.4m.

Temple believes the Genesco deal will help propel Schuh’s growth and looks forward to picking up lessons from Genesco’s US Journeys, which operates in a similar part of the market.

The US footwear business has 900 stores across the US and had been eyeing Europe for a while.

“It’s a mature brand whereas Schuh has just about hit puberty,” says Temple. “We can learn a lot from its experience in the US.”

He intends to accelerate Schuh’s journey into adulthood following the sale and embark on a rapid expansion programme.

“We currently have 59 stores in the UK. We will peak at 100 to 120 stores, which we could get to in the next four to five years. We’re under-represented in London so there’s a great opportunity for us there,” he says.

He also plans to lead Schuh’s march into Europe, which he is starting to think about now.

Schuh’s growth will undoubtedly be helped by its new powerful parent, which will help boost the 59-store chain’s standing because of the brands it sells.

“We’re going to be a much bigger player with brands now we’re part of a global business,” says Temple.

Despite having spent the majority of his life selling footwear, Temple is no Imelda Marcos and is more likely to be seen in a pair of gardening shoes than the latest uber-trendy trainers that he sells.

“I’m not fashionable. Shoes are just a commodity for me,” he says.

“I employ people to make sure we get that side of things right.”

Genesco will be hoping he can cultivate the Schuh business as adeptly as he does his marigolds.