The Homyped journey
With the bulk of Australia’s wealth and superannuation held by ‘baby boomers’, The Growth Fund was actively seeking exposure to this growing and comparatively wealthy demographic.
In 2008, The Growth Fund was introduced to Homyped, a leading designer and wholesaler of comfort footwear in Australia for older women, and partnered with management to buy out the company from its existing owners. With a branded offering, a loyal consumer base and an emphasis on features and benefits over fads and fashion, Homyped was a solution in the foot health category.
A comfortable business fit
Based in Melbourne, but with a national presence, Homyped has strong in-house design and range building capability. This has allowed the business to develop and engineer comfortable products that address the concerns of problem feet and older women with lower mobility and dexterity.
The range is refreshed regularly to appeal to consumers and drive traffic. The company has formed strategic relationships with health research organisations such as the Baker IDI Heart and Diabetes Institute to develop specific footwear appropriate for higher needs diabetic patients.
Stepping into the online world
Homyped is predominantly distributed through pharmacies, complemented by an online retail store, developed and managed by the company. A key destination for older consumers, pharmacy channel ownership is fragmented and largely unpopulated by competitor brands, allowing Homyped niche market leadership.
In addition to its online offering, the company is focused on expanding its footprint within the pharmacy channel, by penetrating large format retail-focused pharmacies. Homyped has invested in high calibre sales and management personnel and resources, and is partnering with ‘banner group’ pharmacy chains to drive growth.