A letter from Sierra Peña,
Chief Executive Office

July 2023

Shelfleet was founded out of a sheer necessity to assist the vendors at my initial business, Micromarkets, in getting their products into retail stores in Austin, Texas. From the beginning, my mission has been to help vendors transform their passions into opportunities. With the retail industry greatly impacted by COVID-19, the demand for an easy and cost-effective solution to reduce marketing costs has propelled the growth of Shelfleet, setting a new standard in retail.

What started as a "consignment program" has evolved into something much more significant: a leasing platform that allows brands and storefronts to leverage each other's existing infrastructure, creating opportunities for all involved. Of course, in our journey from point A to B, and from point B to C, we won't get everything right. However, there are certain attributes that I assure will contribute to Shelfleet's future success: our fierce entrepreneurial spirit, our willingness to take risks that others may not, and our relentless drive and hustle.

Developing this platform has required us to challenge established norms and reinvent ourselves, sometimes even disrupting our own practices.  As the needs and preferences of our customers evolved over the past few years, so have we. Today, Shelfleet is metamorphosing into something entirely distinct from traditional retail.

Taking this leap forward brings with it greater responsibilities—to our shareholders, customers, and colleagues. That's why we have dedicated significant efforts in enhancing our governance and board oversight, building a cohesive and robust management & advisory team, and implementing changes to foster a company culture that values teamwork and encourages long-term commitment from employees.

Since we believe our work is far from complete, we will always keep an eye on the future. Rather than focusing solely on short-term transactional growth, we will prioritize the happiness and loyalty of our customers. We will not hesitate to make short-term financial sacrifices if they promise clear long-term benefits. Our ongoing success will stem from execution and the strength of the platform we have painstakingly built.

I want to conclude with my personal commitment to you: I may not be perfect, but I will listen. It is my utmost priority to ensure that we treat our customers, colleagues, and communities with respect. And I will lead Shelfleet with unwavering passion, humility, and integrity. So, let's have some fun and make great things happen together!

Sierra Peña