Think you can build a $100M brand while giving away products for free?
You can.
Just ask David Heath and Randy Goldberg, the founders of Bombas.
THREAD: How 2 men, pursuing a charitable goal, created a clothing empire.
You can.
Just ask David Heath and Randy Goldberg, the founders of Bombas.
THREAD: How 2 men, pursuing a charitable goal, created a clothing empire.
1/ David Heath & Randy Goldberg are on a mission.
That mission? Build an awesome brand, while helping out those in need.
Rewind back to 2013...
While searching Facebook, Heath was shocked to learn an astounding statistic.
The most needed item in homeless shelters? Socks.
That mission? Build an awesome brand, while helping out those in need.
Rewind back to 2013...
While searching Facebook, Heath was shocked to learn an astounding statistic.
The most needed item in homeless shelters? Socks.
2/ Really? Socks??
This seemed like a problem that could, and should, be solved.
The two men decided they would do just that, and in 2013, the idea for Bombas was born.
The premise was simple: "Create an amazing pair of socks, while donating a pair for every one sold."
This seemed like a problem that could, and should, be solved.
The two men decided they would do just that, and in 2013, the idea for Bombas was born.
The premise was simple: "Create an amazing pair of socks, while donating a pair for every one sold."
3/ So how do you improve on something that's literally been around for over 1,000 years?
For starters, you need to find out what's wrong with current offerings.
Time to go shopping!
For starters, you need to find out what's wrong with current offerings.
Time to go shopping!
4/ With that, Heath and Goldberg began trying every pair they could find.
It didn't take long before the two started to identify some key areas for improvement.
It didn't take long before the two started to identify some key areas for improvement.
5/ Most items currently available were stale.
They wouldn't stay up, the toe seam was annoying, and the fabric was cheap & uncomfortable.
The friends thought, "We can do better."
They wouldn't stay up, the toe seam was annoying, and the fabric was cheap & uncomfortable.
The friends thought, "We can do better."
6/ The duo began to work with manufacturers testing out new and improved designs.
As prototypes were received, friends and family were enlisted to provide feedback.
In the end, the team landed on a set of 7 improvements they believed would set their product apart.
As prototypes were received, friends and family were enlisted to provide feedback.
In the end, the team landed on a set of 7 improvements they believed would set their product apart.
7/ First, they came up with an improved design for the heel, toe, & arch.
Providing better support and removing those ridiculous toe seams we all hate.
Providing better support and removing those ridiculous toe seams we all hate.
8/ Next, they added their "stay up" technology.
A system designed to get rid of that annoying tendency of socks to fall down around your ankles.
A system designed to get rid of that annoying tendency of socks to fall down around your ankles.
9/ Last, eye-catching patterns along with high-quality Merino wool and Pima cotton would be used.
In lieu of the less expensive materials preferred by competitors.
In lieu of the less expensive materials preferred by competitors.
10/ Fresh design in hand, what they needed now was money.
With a modest goal of $15K in 30 days, the two started an Indiegogo campaign.
What happened?
$25K in the first 24 hours.
After 30 days? $140K
Over 9X their original goal!
With a modest goal of $15K in 30 days, the two started an Indiegogo campaign.
What happened?
$25K in the first 24 hours.
After 30 days? $140K
Over 9X their original goal!
11/ Over the next year the duo would continue to raise additional funding.
Including a $1M seed round sponsored by friends & family and an appearance on Shark Tank.
Ultimately securing a deal with FUBU founder @TheSharkDaymond.
Including a $1M seed round sponsored by friends & family and an appearance on Shark Tank.
Ultimately securing a deal with FUBU founder @TheSharkDaymond.
12/ It's safe to say, the appearance on Shark Tank was a boon for sales.
After ending 2013 with just over $300K in revenue, the upstart manufacturer would sell $1.2M in only 2 months after their episode aired.
Closing out 2014 just shy of $2M in overall sales.
After ending 2013 with just over $300K in revenue, the upstart manufacturer would sell $1.2M in only 2 months after their episode aired.
Closing out 2014 just shy of $2M in overall sales.
13/ From this point on, the rise of Bombas, has been one of epic proportions.
Both in terms of their success as a company & their philanthropic mission.
Revenue Totals:
2015: $4.6M
2016: $7.5M
2017: $46.6M
2018: $102M
2019: $170M
Total Items Donated: 45.8 Million!
Both in terms of their success as a company & their philanthropic mission.
Revenue Totals:
2015: $4.6M
2016: $7.5M
2017: $46.6M
2018: $102M
2019: $170M
Total Items Donated: 45.8 Million!
14/ So what's next for Bombas?
In recent years they've continued to expand their product line.
Now offering: Sweatpants, T-shirts, and underwear while still adhering to their original promise to "Bee Better."
And remember:
1 Purchased = 1 Donated
In recent years they've continued to expand their product line.
Now offering: Sweatpants, T-shirts, and underwear while still adhering to their original promise to "Bee Better."
And remember:
1 Purchased = 1 Donated
15/ Enjoy this? Want more like it, follow me @blakeaburge!
•Retweet and Share - This helps!
•Quote Tweet / Comment - I'd love to know your thoughts.
I write 1-2 threads each week. You can find them all in the meta-thread below. Check it out!
•Retweet and Share - This helps!
•Quote Tweet / Comment - I'd love to know your thoughts.
I write 1-2 threads each week. You can find them all in the meta-thread below. Check it out!
https://twitter.com/blakeaburge/status/1402371228179091472?s=20
• • •
Missing some Tweet in this thread? You can try to
force a refresh
