‘I lament the pairing of trainers with suits’: Cheaney shoes’ Jonathan Church on swapping banking for brogues
Jonathan Church is a veteran of the British footwear business, and was recently elected as the master cordwainer by the Worshipful Company of Cordwainers. He tells us why he swapped banking for brogues in this week’s Square Mile and Me
CV
- Name: Jonathan Church
- Job title: Joint managing director, Joseph Cheaney
- Previous roles: Finance director, Church &Co plc.
- Age: 63
- Born: Oxford
- Lives: Warwickshire
- Studied: Queens and McGill University Canada
- Favourite pair of shoes? Cheaney Asburton brogue
- Motto: Cash is King
- Biggest perk of the job: Being part of a business that creates something tangible
- Coffee order: Flat white
- Cocktail order: Manhattan
- Favourite book: Shoe Dog by Phil Knight
What was your first job?
Working in a chicken factory in the school holidays. It taught me absolutely nothing but I recall being so excited to receive my pay in cash, rather like Tom Hanks in Big. Oh and I did help a chicken escape.
What was your first role in the City?
I worked briefly for Citibank in The Strand, followed by two years at Sumitomo Finance, a Japanese investment bank working in swaps in the late 1980s. I thought we were masters of our universe but realised later that our dealings were all to do with having a triple A credit rating and very little to do with our selling skills. I loved the people I was working alongside but had limited interest in the derivative-trading world. I spent a lot of time looking at the clock.
When did you know you wanted to build a career in shoemaking?
It seems I was destined to join the footwear industry, even if I was the last to realise it. Coming from five generations of shoe manufacturers, the path was already paved for me.
I likely gave up a more financially lucrative career in the City to move into shoemaking, but for me, it was a far more fulfilling direction. Since joining Church’s in 1989 and now at Cheaney, I have never watched the clock – except to realize the day has ended before I was ready.
What’s one thing you love about Canada?
Architecture – the old sitting alongside the new. A great example is the Royal Exchange with the skyscrapers looming above. It works so well.
And one thing you would change?
Not much. It’s a square mile you can walk everywhere easily, it is well connected by transport and a delight to be in.
How would you rate the Square Mile’s shoe game?
The City is well served by some of the finest English manufacturers of welted shoes, with Cheaney, Church’s, and Crockett & Jones all having shops in the area, alongside some excellent tailors.
That said, I can’t help but lament the unfortunate trend of pairing trainers with suits. It’s a style choice that I suspect will be ridiculed in years to come. After all, how can you possibly ruin a beautifully tailored suit with a pair of trainers?
Tell us a bit about your role as master of the Worshipful Company of Cordwainers
It is a great privilege to serve as Master of a Livery Company with a history spanning over 750 years. I once thought that Church’s and Cheaney were old, at 140 years, but the Cordwainers, shoemakers, have a much longer legacy. We are also in the enviable position of still having a living trade with a direct connection to the future shoemakers and shoe designers of the UK though our annual Cordwainer Footwear Awards.
Philanthropy is central to a livery company. As part of our wide charitable support, including to a number of City charities, we also provide financial backing for footwear education. During my year, I’ve had the privilege of visiting London College of Fashion, Northampton Universit, and De Montfort University, all of which teach courses in footwear design. I am firmly convinced that there is no better place to learn the great craft of shoemaking than here in the UK.
What’s been your most memorable job interview?
I was interviewed for a famous merchant bank in the mid 1980s. It was not a very good experience, I realised afterwards that I was in competition with Harvard graduates so perhaps rather out of my depth.
My favourite interview experience, however, was with a Japanese investment bank. I had thoroughly prepared to discuss the Eurobond market – only to be asked about my family and whether my sister was married! I got the job.
And any business faux pas?
The usual, getting to work finding I have put on unmatching shoes, unmatching suit jacket to trousers etc. The reality is that no one else tends to notice.
What’s been your proudest moment?
Buying Cheaney in 2009 was, without a doubt, the boldest business move I ever made. My cousin and I left secure jobs at Prada to take on the challenge of acquiring a loss-making shoe manufacturing company – a leap of faith that reshaped our careers.
And who do you look up to?
I used to find Luke Johnson’s business articles in the Sunday Times really good advice, but after his own business collapsed I became a bit disillusioned by business gurus. Lord Wolfsen at Next has to be admired, always underpromising and over delivering year on year.
What’s the best business advice you’ve ever been given?
Watch cash flow. The often-quoted mantra “sales is vanity, cash is sanity” is a piece of advice well worth heeding.
And the worse?
Ecommerce will not work for footwear given the complication of sizes and fitting. It does work and it is a big business.
Are you optimistic for the year ahead?
Retail sales are heavily influenced by tourism and consumer confidence. The latter is being tested by global political uncertainty, volatile stock markets and a lack of government support for businesses.
The upcoming National Insurance threshold increases amount to a tax on employment, and when combined with reductions in rates relief, they place a significant financial burden on businesses. Reintroducing the VAT rebate for non-EEC shoppers would provide a much-needed boost to optimism and spending.
We’re going for lunch, and you’re picking – where are we going?
1 Lombard Street.
And if we’re grabbing a drink after work?
Williamsons Tavern off Bow Lane.
Where’s home during the week?
Northamptonshire and London.
And where might we find you at the weekend?
Warwickshire.
You’ve got a well-deserved two weeks off. Where are you going and who with?
Turkey with family and friends.