Bombas
14 statements across 1 episodes · 2 bullish · 0 bearish · 2 people on the record · first statement Oct 10, 2024 by Randy Goldberg · across every show →
Everything said about Bombas, oldest first
Oct 10, 2024
Oct 10, 2024
Heath: Founders Validated Prototypes by Handing Them Out at Gyms
“Randy and I, we would, like, go to our local gym, and, you know, we'd be that weird, like, sock guy at the gym. Interrupt people's workouts. It'd be like, hey, take your headphones out. I saw you wearing these Nike socks. Can I give you a pair of these? Tell m…”
Oct 10, 2024
Oct 10, 2024 neutral
Heath: Bombas hit $275M in sock sales before launching underwear
“By that point we were two hundred and seventy five million of top line in socks and we were like, okay, we now feel comfortable to start planting the seeds and intentionally keeping those businesses small to begin with and not trying to make them 20% of the bu…”
Oct 10, 2024 positive
Heath: Daymond John was Bombas' number one Shark Tank target
“We had a hierarchy of sharks that we thought were better fits for us than others. You know, ending up with Damon, you know, built a billion dollar apparel brand New York based obviously was our number one choice. It's who we ended up with. But we had a strateg…”
Oct 10, 2024 neutral
Heath: Early Sock Market Was 85% Commodity and 15% Performance
“When we looked at the marketplace, we realized very quickly, 85% of all sock sales were dominated by the low cost, low quality commodity type brands. Think of 12 pairs of white socks in a plastic bag. You're going to get a Costco, Target, Walmart, TJ Maxx, wha…”
Oct 10, 2024
Oct 10, 2024 neutral
Oct 10, 2024
Oct 10, 2024 positive
Goldberg: Shark Tank prep forces startups to confront avoided business questions
“And it's actually a pretty good process for a young business to go through because they don't tell you what they're gonna ask you. They can ask you any question about your business on national television, and you have to have a good answer prepared. So we knew…”
Oct 10, 2024
Goldberg: Bombas engineers donation socks specifically for durability and homeless recipients' needs
“So on our core socks for us, for our paying customers, we tend to use a seamless toe which is really light, but less durable over time. Then reinforcing the seam. So things like that, the same base yarns, we're just, we're trying to make really smart products …”
Oct 10, 2024
Oct 10, 2024 neutral