From Resilience to Relevance: Matt Priest Finds His Footing
Matt Priest, President and CEO of the Footwear Distributors and Retailers of America shares how he transformed FDRA from a struggling trade association into a trailblazing powerhouse in the footwear industry by embracing vulnerability, transparency, and teamwork.
In our inaugural episode of the re:Purpose podcast, Buddy Teaster sits down with Matt Priest, President and CEO of the Footwear Distributors and Retailers of America (FDRA). With nearly 16 years at the helm of FDRA, Matt has turned the organization into a titan of the footwear industry.
But this journey wasn’t always smooth sailing. In this episode, Matt shares how he navigated the challenges of taking over FDRA during the Great Recession, built a strong team, and finally found his footing as a leader.
The Tailspin:
When Matt Priest first stepped into his role at FDRA in 2008, he was faced with a daunting reality. The organization was struggling financially, and the Great Recession had left the industry in turmoil.
“We were bleeding money,” Matt recalls. “There were a lot of hard conversations, and we were on life support.” At just 31 years old, Matt was young, inexperienced in running a trade association, and had a limited network. “I wasn’t equipped to ask other people in senior roles to do stuff for me,” he admits.
Matt, like many entrepreneurs, wanted to prove he could do it on his own.
“I think pride was involved, a desire as a young professional in the private sector for the first time to say I got this, nothing to see here. We can pull this off. And I didn't have it. And there was a lot to see there, actually."
The pressure was immense, and the stakes were high. “I may have heard murmurs and whispers like, ‘Who is this clown?’” Matt shares, reflecting on his first board meeting. “It was the hardest board meeting I’ve ever had. We were running a huge deficit. So it was this mixture of being naive and prideful.”
This was the tailspin—a moment of vulnerability and uncertainty that would ultimately shape Matt’s leadership style going forward.
The Work:
Matt quickly realized that he couldn’t do it alone. “It took me a while to move from someone who served the Secretary of Commerce to a position where I was asking—or even directing—people senior than me to do specific things so we could be successful,” he says.
This shift in mindset was crucial. Matt learned to embrace vulnerability and transparency, asking for help when he needed it.
“Success is driven by a little bit of vulnerability about where we are at the current moment. Having the ability to be super transparent and then not be afraid to ask people for stuff…I kind of shed that and I think we've been successful ever since.”
Matt also focused on building a strong team. “I view it as a locker room,” he says of his leadership approach. “Even when we’re losing, I want people to work together in a collaborative way.”
He then hired Andy Polk, a former colleague from Capitol Hill, and together they reimagined FDRA’s role in the industry. “We started to think through where we sat in the marketplace,” Matt recalls.
“We can’t just be lobbying everyone. What are all the other things we could do to serve the industry that has nothing to do with lobbying? So consultations on sourcing, data services and analysis, networking opportunities, events and education,” he says. “We really poured into that. And then at the bottom of the list was we lobby.”
This shift in strategy helped FDRA become more relevant and valuable to its members.
The Tailwind:
Today, FDRA is thriving under Matt’s leadership. The organization has grown significantly, and Matt has built a team that’s “firing on all cylinders.”
Reflecting on his journey, Matt says:
“Success is driven by a little bit of vulnerability about where we are at the current moment, having the ability to be super transparent, and then not be afraid to ask people for stuff and to direct them to do things on behalf of the organization.”
One of the most significant moments of validation came when the industry turned to FDRA for leadership. “They said, ‘Hey, we’ve got this organization called the Fashion Footwear Association of New York that needs some TLC. You guys are the fixers—will you take that?’”
Matt recalls. “That was a vote of confidence from the industry.”
Since then, FDRA has taken on additional responsibilities, including running a breast cancer research initiative, further solidifying its role as a trusted leader in the footwear space.
Matt’s leadership style continues to evolve, but his core values remain the same. “I want to continue to grow and to show our relevancy,” he says. “There's kind of this unspoken language of the typical trade association, that it's stodgy, not innovative. It's very wonky. It doesn't do anything other than talk about lobbying. And we don't want to be that.”
“We want to be innovative and we want to be creative and we want people to be able to plug into us,” Matt offers. “And if I look back in 20 years from now, we've done that and we've gotten rid of some tariffs. I'll high five myself over and over again.”
Matt Priest’s journey from tailspin to tailwind is a story of vulnerability, transparency, and collaboration. By embracing these values, he transformed FDRA into a thriving organization that serves as a model for innovation and leadership in the footwear industry. His story is a reminder that even in the face of adversity, success is possible with the right mindset and a strong team.
To hear more about Matt’s inspiring journey, experiences working in politics, and relationship with his faith, check out the full episode of re:Purpose with Buddy Teaster.
Be sure to follow the re:Purpose podcast on Apple, Spotify, YouTube, or wherever you get your audio content. Pre-order From Tailspin to Tailwind now on Amazon.