Bombas Explained

Bombas
Industry:Clothing
Successors:-->
Founded:2013
Founders:Randy Goldberg, David Heath
Hq Location City:New York City
Areas Served:-->
Profit:-->
Profit Year:-->
Owners:-->

Bombas is an apparel brand. The company originally sold socks and began selling T-shirts in 2019. For every item purchased, a clothing item is donated to a homeless shelter or homelessness-related charity.

History

Bombas launched in 2013, after founders Randy Goldberg and David Heath[1] learned that socks are the most requested clothing item in homeless shelters.[2] They established the brand’s mission to donate one pair of socks for every pair purchased.

The company first received funding in 2013, raising nearly $145,000 through the crowdfunding website Indiegogo. A year later, the company raised $1 million in seed funding from friends and family.[3] The founders appeared on a September 2014 episode of ABC’s Shark Tank and secured a deal with Daymond John, with John providing $200,000 for 17.5% of the company.[4] In 2018, the company exceeded $100 million in revenue.[5]

By April 2020, Bombas had donated 35 million pairs of socks.[6]

In June 2020, Bombas released a collection of socks for which the company would donate an apparel item to a charity supporting LGBT youth for each item purchased.[7] As of October 2023, they’ve done $1.3 billion in retail sales.[8]

In 2024, it was announced that Bombas would participate as one of the brand partners in the merchandising campaign for the upcoming first film of the two-part film adaptation of the musical Wicked for Universal Pictures.[9] [10] [11]

See also

External links

Notes and References

  1. News: Segran . Elizabeth . Getting Startups Fired Up About Social Justice, One Sock At A Time . October 25, 2017 . Fast Company . July 29, 2017 .
  2. News: Anne . D'Innocenzio . Online socks seller Bombas mixes commerce and charity . August 19, 2018 . AP News . November 8, 2019 .
  3. News: Selling High-End Socks by Giving Them Away . Gelles . David . March 19, 2016 . October 25, 2017 . The New York Times .
  4. Web site: Montag . Ali . How Daymond John faced failure and ended up winning big . 2023-04-30 . CNBC . August 22, 2017 . en.
  5. Web site: Bombas: Charitable at the Start, Profitable by Year 3, and Only 3 Employees Have Ever Quit . Weisul . Kimberly . May 16, 2019 . Inc.com . November 8, 2019 .
  6. Web site: Bombas socks review: the best socks we've ever worn . Leighton . Mara . April 17, 2020 . . . en . April 21, 2020 .
  7. Web site: Celebrate LGBTQ Pride Month With Gear From Brands That Give Back . Miller . Charlie . Miller . Carballo . May 12, 2020 . Footwear News . en . live . https://web.archive.org/web/20200524102018/https://footwearnews.com/feature/pride-shoes-sneakers-lgbtq-charity-proceeds-converse-adidas-1202785050/ . May 24, 2020 . May 29, 2020 .
  8. Web site: January 20, 2023. Bombas Socks – $100 Million Shark Tank Success Story . October 31, 2023 . TechieGamers.com.
  9. https://playbill.com/article/barbies-and-lego-and-bears-oh-my-a-wicked-movie-merch-bonanza-is-on-the-horizon
  10. Web site: 'Wicked' Product Collaborations Named . 2024-06-04 . www.licenseglobal.com . en.
  11. Web site: 2024-05-21 . Wicked is defying fans not to buy its merch . 2024-06-04 . The A.V. Club . en.

This article is licensed under the GNU Free Documentation License. It uses material from the Wikipedia article "Bombas".

Except where otherwise indicated, Everything.Explained.Today is © Copyright 2009-2024, A B Cryer, All Rights Reserved. Cookie policy.