Over a decade after its founding, Bombas has set its sights on its next venture: physical stores.
The DTC sock brand has plans for three retail locations, the first of which opened Friday in New York City’s West Village. Another store in Boca Raton, Florida, will open later this month, while an Austin, Texas, location will open in early November.
“We have a great breadth of product to offer and a bigger story to tell than ever before,” Bombas CEO Jason LaRose told Retail Dive. “I think doing that in our own canvas will make a lot of sense.”
LaRose stepped into the chief executive role in May of this year, taking over from co-founder David Heath. The stores, LaRose said, allow the brand to offer a fuller assortment of its product range to customers.
The brand is intentionally easing into owned retail, viewing its first few stores as a learning experience for potential expansion down the line.
“This is really a test for us to see how customers respond to our product and physical space that we're controlling,” LaRose said, adding that the brand will be “thoughtful” when deciding to open more stores. “This is a great opportunity for us to learn through the holiday season, learn in the next year, and then decide what that means for us going forward.”
The company is also finding reassurance in the fact that within the categories Bombas sells, 65% of sales are done in physical stores.
“As we continue to grow, I think it's just a great opportunity for us to tell that full story while exposing more people to our mission,” LaRose said.
Core to that mission remains the brand’s commitment to providing essentials, like socks and underwear, to those in need. The company has said that “since day one” it has worked to help those experiencing homelessness. Part of that has meant donating a pair of socks — or T-shirts or underwear — to those who need them.
So far, Bombas has donated more than 150 million items to community organizations.
Deepening wholesale ties
While this is Bombas’ first foray into owned retail stores, the brand has had a robust wholesale presence for some time, partnering with retailers like Dick’s Sporting Goods, Nordstrom and Scheels. Bombas is expanding its roster of wholesale partners further, through tie-ups with Target and DSW ahead of the holidays.
The move into Target represents a major opportunity to not only connect with new customers, but also those already familiar with the Bombas brand.
“A huge swath of the overall population shops there. A lot of folks expect to see us there,” LaRose said, adding that the assortment at the mass retailer will be focused around products for the family.
Meanwhile at DSW, Bombas plans to emphasize its footwear offering, which now includes slippers and slides.
“They're a real authority when it comes to footwear, and our footwear business has accelerated so much over the last few years, probably close to 20% of our business this year,” LaRose said. “It's just a wonderful opportunity for us to be in a place that's really known for its expertise in footwear,” While the brand will offer its socks through its partnership with DSW, it will be “footwear forward” there, according to Jason.
Partnering with various companies — from sports retailer Dick’s to higher-end department store Nordstrom — allows the brand to curate its assortment available for the intended customer.
“There's no question that you're going to feel a little more fashion when you're at Nordstrom, you're going to feel a little bit more sport and performance when you're at Dick's Sporting Goods, and then of course when you're in our own retail stores, you get the full breadth beyond the sock assortment, into things like intimates and apparel and footwear,” LaRose said.
