Tuesday, 15 February 2011
Twenty-eight years after selling the rights to his woollen-lined creation, Aussie Ugg boot inventor Shane Stedman says he has no regrets despite missing out on a massive footwear fortune.
Worn by the rich and famous around the world and now a $799.04 million-a-year enterprise, Ugg boots have come a long way since their 1973 creation - designed to keep surfers' feet warm in chilly Australian conditions.
A lifelong surfer, Mr Stedman, now 69, who lives at beachside Mona Vale in Sydney, told British newspaper the Daily Mail his invention grew from need.
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