In a world of DTC booms and busts, Bombas has remained a rare constant.
The brand, best known for its socks, launched in 2013 as an online-only brand and has consistently grown since then. Today, it brings in over $300 million a year, and while e-commerce remains one of its major revenue channels, it has expanded into stores like Dick's Sporting Goods and Nordstrom.
According to co-founders David Heath and Randy Goldberg, the key to Bombas's success has been in staying focused on its core competencies and not expanding too quickly. "We were never the brand that was like let's go out and raise $150 million and try to be the biggest company as quickly as possible," said Heath.
The two co-founders joined the Modern Retail Podcast this week and spoke about how Bombas has been able to grow while remaining true to its DTC roots as well as what's on the horizon for the brand.
The major constant of Bombas's strategy has been being able to tell its story. The company sells basics like socks, underwear and t-shirts. And it also has a buy-one-give-one model that donates an item of clothing to a person experiencing homelessness. According to Heath, the company has always focused on telling that story as simply as possible. "From day one, as part of our go-to-market strategy, we invested heavily in brand," he said.
But the other big lesson has been to figure out how to roll with the punches. As consumption patterns shift -- and social algorithms change -- so too does marketing. "I think that's the hallmark of really good modern brands: you're going to find people where they are in their world -- and you're attaching yourself to their life and not asking them to come into your world," said Goldberg.
Put together, Bombas has figured out a model that doesn't stray from its root but allows it to grow to the hundreds of millions. And the co-founders plan on keeping with that plan this year and beyond.
"We look at the brands that we admire -- the Nikes, the Lulus, Under Armours, Patagonias of the world," said Heath. "These brands have all been around for 20, 30, 40 years, and they've built brick by brick every single year."