Meet Bassem Lotfy; CEO of Egypt’s Finest Shoe Brand

CAIRO, Nov. 25 (SEE) - If it ever happens and you go footwear shopping anywhere in Egypt, I bet you would hear the word ‘Couchii’ at least once, a local expression used to refer to any kind of sneakers or sports shoes. But who coined the term that stuck in Egyptians’ heads for decades and has been interchanged since then?

It was the late Mohamed Lotfy, the son of Egypt’s pioneering shoemaker who engraved his own fingerprint in the market.

In an interview with Bassem Lotfy, the third generation of the family, it was clear that his childhood as a member of the ”Lotfys” had contributed much to his personality.

Notably, the 30-year-old ‘s early education at both German and American systems, has left him marked with the determination of the Germans interwoven with the American dream.

Eager to know more about the ambitious CEO, then scroll down to the full interview.

The Businessman

• First of all Bassem, Your early career was challenging would you narrate your story to us?

My father passed away amidst my senior high school year, and my plans dramatically shifted. Instead of traveling abroad for college, I had to stay back to handle the family business. It was really difficult; I was in charge of managing the factory and more than 100 stores as the company was at its peak. At that time, we used to manufacture for local and international brands, everyone was looking to get a piece of Lotfy. At one point, I had to take a year off college to focus on the business.

• You are the third generation of the family, how does it feel like to run a family business?

Let me recount the story of our company, my grandfather started a workshop back in 1948. He was the pioneer of shoemaking; he used to supply his products to aristocrats and elites including President Gamal Abdel Nasser. The company started to expand on a high scale when my grandfather manufactured military shoes to be exported to the Soviet Union during Abdel Nasser’s era.

Then, my father’s vision was a bit fast forward and way ahead of his time. He used to travel abroad and take pictures of the stores’ designs in Europe to innovate the local market. In old movies, for example you can see Adel Imam, Yousra and Ahmed Zaki at Lotfy stores. Not to mention, he is the one who branded the training shoes as ‘Couchii’ regardless of the brand.

My own challenge is very different. The rise of low quality Chinese products and the devaluation resulted in the over pricing of imported shoes. I have to bring back the pride and awareness of the decent crafted leather shoe.

• What are the issues faced by local manufacturers?

The issues are multiple. For instance, the lack of shoe components and illegal imports, devaluation has vigorously affected the availability of materials and this has caused shortage in the designs. Everyone, including myself, is still in shock of the raw material’s cost that reflects on our production costs.

Also, I wish that government’s de-corruption campaigns handle the improper documentation along smuggled containers.

There is also lack of knowledge in the market; we are lucky at Lotfy to have treasured and passed on, but alone we are not enough. We need a proper design school for all leather goods and new design labs to serve the market as a whole.

• Meanwhile, do you operate locally only or internationally as well?

Both. Yet, currently our focus is on the local market, we have a population of 100 million consumers which is huge. The market is already eyed by foreigners who are trying to penetrate it.

Though we have our own brand, in our own design lab, we help local designers to launch their own brands. Ethically, I cannot mention their names but we manufacture footwear and handbags for Egyptian brands making headlines now. I am proud of our contribution to introduce new talents and craftsmanship through their own brands. It is a win-win collaboration.

[caption id="attachment_24522" align="aligncenter" width="467"] Bassem Lotfy[/caption]

The Millennial

Personally, which community work do you prefer to engaging in?

At Lotfy we initiated a campaign entitled “Soles4Souls” in which we give away shoes to the needy. Personally, I take a lot of teenagers in at Lotfy and offer them training in crafting shoes. I spend a lot of time with them and hold group discussions. I aim to offer them paid internships to be motivated to pursue a career instead smoking and taking drugs with lonely hopes is to drive a rickshaw, locally known as ‘Tuk Tuk.’

• Being the youngest member in the Chamber of Commerce, what do you attribute your success to?

I can’t deny that being a member of the Lotfy family is a major key to my success. The industry members are aware of our decades-long progress and clean merchandising; it is this kind of diligence that I hope to bring to the chamber.

• What do you look for in an employee?

I continuously look for learners. I always engage with my team and try to get the best out of them.

[caption id="attachment_24521" align="aligncenter" width="502"] Bassem Lotfy[/caption]

The Optimist

• In Egypt we have many resources, how can we take advantage of this opportunity to make the market flourish especially that there is a lack of creative products?

Not in Lotfy. The copycat mentality succeeds only for a year or two, innovators guarantee continuity. In my own point of view, I see that we do not lack creativity but lack effective management and guidance; those talented mainly do not benefit from their unique gifts as they work in fields irrelevant to their endowments.

• If you plan to penetrate new markets, would you expand into Africa or head to the Mediterranean? And why?

Off course, I will resort to Africa. The market there is wide and the products people demand are cost-effective and typical.

• How do you foresee the future of industrialization in Egypt?

In light of the government’s initiatives, especially the new investment law, I think that will positively reflect on the investment environment and encourage investors, like myself, to expand. Accordingly, more employment opportunities will evolve which will boost our economic growth and revitalize the social welfare of everyone.

• What are your future ambitions?

I want to bring back the art and craftsmanship to the market through preserving the traditional 30-shoemaking-steps. I hope we would be able to improve and be proud of our craftsmanship like Italians. Soon, we will be launching new high quality brands at affordable prices.

• What does it take to pursue your goals?

Currently, I have a team of talented craftsmen who have been working in Lotfy for decades. And my design team includes two Europeans - slowly but surely,we will get there.

• What is next for shoe designs?

Thanks to social media and high street fashion brands, all classes are now looking for the ongoing trend. The sector has been globalized and I have a firm belief that shoe-making designers and entrepreneurs are paving their way to the markets.

• Who is your greatest mentor? What did you learn from him/her?

My greatest mentor is my father; he is a true visionary leader. I learned a lot by accompanying him in my teen years to the stores and factory. He always used to stress that anyone who wants to succeed, should not come up with excuses.

• What is your personal favorite quote?

Follow your Gut!