Many brands start out hoping to make a difference, but very few are able to give back and be profitable. Sock brand Bombas, on the other hand, developed a plan for this model.
Since its launch in 2013, Bombas has donated more than 100 million pairs of socks and other clothing essentials to those in need. By focusing first on community and second on product, Bombas has sparked national conversations while becoming a multi-million dollar company.
Bombas co-founder Randy Goldberg explains how the brand became a profitable business while prioritizing social impact.
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Putting community first
To build a brand that makes a real difference, it’s important to prioritize the needs of the people you’re trying to serve. Randy and his co-founders discovered that socks were among the most requested items at homeless shelters and felt compelled to help. “At first we didn’t think there was a business idea,” Randy says. “We just thought: How can we solve this problem in our community that we just found out about? »
Taking a community-focused approach allowed Bombas to find a gap in the market and create a brand focused on providing socks to homeless people. “As we bought socks and donated them, we interacted with more homeless people and started to realize there was a business here,” Randy says.
Focus on product quality
When it came time to develop their product, Randy wanted to design the best sock possible. He wanted people to buy Bombas socks not only for a good cause, but also because they like the quality. Randy said he thought, “Maybe if we redesign the socks and make something amazing, then we can help solve a problem in our community.”
“I bet a lot of other people don’t know [this problem] either, and they will be interested in contributing, especially if our product is excellent. Adding a great product to an already strong mission of driving social change helped the brand grow and make more profit over time.
Connection with local resources
Today, Bombas has approximately 3,500 donor partners in 50 U.S. states, but in the beginning there was just one. “We would Google, ‘sock donations’ [and start] building a network of small and large organizations,” says Randy.
It’s important to build relationships with donor partners who support the work you’re trying to accomplish, because their perspective is extremely important. Local resources can share new needs and even updated language that you can use to educate your customers.
“We used what they had to say to update our website and improve the manufacturing and distribution process,” says Randy. Allowing local organizations to influence your business model will help your brand survive in the long term and weather any changes in the industry as a whole.
Collect community feedback
When it comes to building a profitable business that continues to impact those in need, it’s important to continue to reach out to the community you’re trying to serve. “We don’t just talk to shelters and organizations that support and donate our products, we have a lot of conversations with people we meet on the subway, on the street, or with a friend of a friend who is crossing a difficult time,” says Randy.
This approach not only helps the team develop empathy and compassion, but also guides the way Bombas approaches donation operations.
After reaching out to local donor partners and the community, Bombas expanded into underwear and t-shirts, some of its other high-demand items.
Bombas’ model focused on community, product quality and local partners has helped the brand establish a profitable business that drives real change.
To learn more of Randy’s advice and explore Bombas’ branding and marketing strategies, tune in to the full Shopify Masters episode.