Holey Soles Named Canada’s Number One Top Emerging Growth Companies By PROFIT HOT 50
We are very excited about the honor that has been bestowed upon Holey Soles by Profit Hot 50. Their announcement today places Holey Soles NUMBER ONE in the ranking of young Canadian companies on the seventh annual 2006 PROFIT HOT 50 (please see press release below).
Today’s announcement was made public as Joyce Groote, President and CEO of Holey Soles, begins a whirlwind 3-day media blitz in the Toronto area. Joyce will be interviewing with the media sources listed below, who are all anxious to know more about the Holey Soles success story. While we are certainly proud of the recognition our company is receiving, Joyce is quick to point out that our success is the cumulative result of collaboration by all of the many dedicated people who are associated in various ways with Holey Soles. It is quite evident that the market is becoming increasingly aware that Holey Soles is truly a company on the move.
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Holey Soles Has Been Named Canada’s Number One Top Emerging Growth Companies By PROFIT HOT 50
VANCOUVER, BRITISH COLUMBIA, September 18, 2006 – Holey Soles is pleased to announce that the company has been ranked the NUMBER ONE position on the seventh annual 2006 PROFIT HOT 50 for its incredible growth. PROFIT HOT 50 is a definitive ranking of young Canadian companies.
Holey Soles, a Vancouver-based lifestyle product company, is best known for its comfortable line of footwear. In 2004, Holey Soles’ annual revenue stood at $60,000. By 2005, revenues were just under $4 million and the projection for 2007 is that Holey Soles will increase another 3-fold.
Holey Soles President and CEO Joyce Groote attributes the speedy growth to ‘being in the right place at the right time’ but those who work with her know that Holey Sole’s success is largely a result of Groote’s vision, wisdom, energy and determination. “It feels truly amazing to be recognized by Profit Magazine as part of the illustrious group of Canadian entrepreneurs.” says Groote. “Our success and growth has enabled Holey Soles to pull together a highly committed team of professionals that will catapult our company into the next generation of new exciting products.”
Holey Soles is a world leader using injection foam molding to create comfortable, wearable shoes; over the next few years they will increase their global presence by using this technology as the basis for a new generation of lifestyle products that are comfortable, functional, stylish and affordable.
The PROFIT HOT 50 is published in the October issue of PROFIT and online at PROFITguide.com, the PROFIT HOT 50 ranks young firms by two-year revenue growth. “The PROFIT HOT 50 companies represent the ambition, sophistication and immense contributions of Canada’s entrepreneurial sector,” says editor Ian Portsmouth. “PROFIT is proud to celebrate the success of these businesses and to share their growth strategies.”
About PROFIT Magazine
Your Guide to Business Success, offers news, strategies, tips, interviews and other resources to the CEOs of Canadian growth companies. Each year PROFIT-- which currently reaches more than 370,000 readers nationally-- hosts a number of events that bring together business leaders in the fast-growth segment and champions the interests of those leaders. PROFIT was founded in April 1982, as Canada's first national magazine geared to entrepreneurs. Visit PROFITguide.com.
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