Roger Hardy is taking his rewards from selling an online contact lens company and making a big bet on shoes.
Roger Hardy, founder and former CEO of optical giant Coastal Contacts, announced today his company, Hardy Capital Partners, along with a small group of Canadian investors, have acquired Seattle’s OnlineShoes.com for $140 million and Vancouver’s ShoeMe.ca.
ShoeMe was recently included as part of June’s Techvibes 20 list.
Hardy intends to consolidate the two companies, creating the largest online footwear operation headquartered in Canada.
The combined entity will have more than 250 employees across North America with combined annual revenues of approximately $200 million.
“The footwear category in North America is estimated at more than $50 billion and there are large segments of the population being grossly underserved,” said Hardy in a press release.
“We are determined to redefine the shopping experience for North American consumers while delivering the savings and convenience they’ve come to expect from other online categories,” he added.
Hardy is no stranger to disrupting industries through e-commerce. In February it was announced his company, Coastal Contacts, the largest online eyewear company on the planet, was being sold to French eyewear giant Essilor for $445 million.
Hardy will take the reigns of the consolidated online shoe company as Chairman and CEO. Sean Clark, founder of ShoeMe, and a former employee of Coastal Contacts, will remain as president of the Canadian operations while a 100-day consolidation plan is rolled out.