UGG BOOTS - Aussie Ugg boot inventor Shane Stedman created the boots in 1973 to keep surfers' feet warm in chilly Australian conditions. A lifelong surfer, Mr Stedman, now 69, lives at beachside Mona Vale in Sydney. "The sea is bloody cold in the Aussie winter ... I used to wear football jerseys to keep my feet warm," Mr Stedman said. But his sheepskin invention solved the problem. Ugg boots have come a long way since then, and are now a $799.04 million-a-year enterprise.