From the Kansas City Business-Journal:
In fact, co-founder and “sockpreneur”Jason Grill says as pants get shorter and as the tie becomes less popular, socks are the new statement piece to complement men’s business suits.
It’s a growing industry. For the 12 months ending in April, socks brought in $4.22 billion — a 5.6 percent increase over the previous year.
Sock 101 emerged from the idea that quality socks could be more affordable. Currently, the startup sells socks for $7 a pair online and is selling its products through a number of local retailers.
Sock 101 also has the “Sock of the Month Club” — a subscription-based model — which companies have used as monthly client gifts.
It’s working so far. According to Grill, the business launched about a year ago without taking on any investors and is already profitable.
Now, he is trying to add “team socks” to the mix with an addition of seven new pairs whose colors represent a handful of sports teams.
It’s also dipping its toes into custom socks for companies, complete with logo. Some of the Kickstarter funding will go toward creating a tool on Sock 101’s website where users can create their own customized pair.
Sock 101 has almost reached its goal of raising $25,000 through the crowdfunding website. It’s got less than $3,000 left to raise before the campaign ends Oct. 31. Although it’s sold about 3,000 pairs of socks so far, if the company hits its Kickstarter goal, it will have to manufacture more than 2,100.
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