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Here’s how we built LØCI, the sneaker brand beloved by DiCaprio, Minaj

This essay, as stated, is based on a conversation with Emmanuel Eribo, CEO and co-founder of LØCI, who worked in finance before becoming an entrepreneur. The following has been edited for length and clarity.

I never thought about a job in finance until I went out for a drink with a friend one day.

He ordered lots of expensive drinks, wore a nice suit and shoes and said “Don’t worry, I’m a banker”. It was a light bulb moment for me.

I didn’t have a financial background because I studied psychology at university. However, I tried unsuccessfully to get into banking for about eight months.

So while I was living rent-free at my mom’s house, I decided to buy some coding books and teach myself how to code. I was lucky enough to get a coding job at HSBC and started programming for the trading platform.

But after a few months, I didn’t feel like it was a culture fit and thought I’d move on soon. I wanted to be my own boss and be in control, but because of the pay and the lifestyle that comes with it I stayed in the financial industry for about eight years.

I wanted to be involved in building something that I could be responsible for – at the time, it was a venture into consumer products. My brother and my school friend and I bounced around ideas.

I remember telling my mom that I was thinking of starting a business. She told me, “If you think you can do it, I’m here for you.” It was all I needed because I started with nothing, and if I leave with nothing, I’ll probably be fine in the end.

At first, I was very afraid to quit my job, but being an entrepreneur, that fear is constant and you get comfortable with it.

We ended up building a business called Butterfly Twists as a side hustle. It was a ballerina shoe brand that I built as a hobby while having jobs in finance and distributing online. We started selling a lot of shoes, so we quit our jobs and built this brand. It has grown to have an office with 60 staff in the UK and 30 internationally.


Butterfly Twists Shoes

Shoes from the Butterfly Twists range by Harley Viera-Newton.

Dave Bennett/Getty Images



Over the next seven years, I learned how things work in the industry. My time in banking taught me hard work, which translated into running a business.

Butterfly Twists has grown significantly; we sold in 67 countries, had 32 stores and sold a million pairs of shoes a year. On the surface, we were doing amazing, but I wasn’t in love with the business because I couldn’t really relate to it.

I was very proud of what I accomplished, but I felt like I was creating spreadsheets or PowerPoint presentations all my time. The days of running around with sneakers in my bag and making deals are long gone.

Building a new brand

During the pandemic, I thought about whether I want to spend the next few years of my life in this business or doing something I love.

My friend, brother and I talked and thought, “Imagine if we could build another business that represents everything we believe in.” That’s when we came up with the idea for LØCI, a luxury vegan sneaker and clothing brand.


Models wearing LØCI sneakers

LØCI footwear is worn by a number of celebrities.

LØCI



LØCI comes from the Latin word “locus”, which means center or place and the feeling of being at home. We wanted to build a business that felt that way and built on our values, so we used reused, recycled and biodegradable materials.

We spend a lot of our resources removing plastic from the oceans, and from a human perspective, we’ve built a platform for artists and musicians. We host events in exclusive locations and organize shows with emerging artists.


Emmanuel Eribo and Charlotte Tilbury

Emmanuel Eribo with Charlotte Tilbury at Soho House in London.

David M. Bennett/Getty Images



LØCI is a platform for others and for me it allows me to be the person I want to be, express myself and take control of my life. That’s something I don’t think working in finance has given me.

During the pandemic, we went to the US and started building relationships. When I launched LØCI in 2021, I had no money but the dream of building a sneaker brand. It wasn’t the skills I had, but I knew how to build a brand.

Since our launch, we’ve had a significant celebrity endorse our products, which was never something I could have dreamed of in the beginning. We got Leonardo DiCaprio to invest and Nicki Minaj is also an equity interest. I also did an exclusive sneaker collaboration with her.


Nicki Minaj posing while wearing a pair of pink sneakers from her collection with LØCI

Nicki Minaj wears a pair of sneakers from her LØCI collection.

LØCI



Developing relationships

The worst way to introduce people and network is to cold call them. I would never want to be introduced to someone in this form – it’s annoying.

I have found that the secret to success is patience, kindness, being a great person and enjoying it. People have always asked me how I do it and how I make the connection, and I say it’s organic.

For everything that happened, five or 10 things didn’t happen. We are always working from multiple angles, people and opportunities. It’s better to approach it with “how can I add value to their lives?” That’s the first thing my team and I try to do when we meet people, because everyone has a dream.

Building a brand takes time – you’re on a journey and you have to ride it out, no matter how difficult it gets.

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