Have you heard of Happy Socks? Last year it sold socks for 100 million euros

Maybe some people are not familiar with Happy Socks. The brand was established in Sweden in 2008, completely out of a suden idea from Mikael Söderlindh and Viktor Tell. They found that some of the bright and printed socks on the market (most of them printed with Simpson’s head) are almost used as prank props. For consumers who really want to buy design socks, such socks are unable to meet their needs.

With this idea, they created Happy Sock. Since then, 40 million pairs of socks with bright colors or novel patterns have been sold to more than 90 countries around the world. Their idea for the “socks business” is very simple: “This is A way of expressing emotions by yourself. When you wake up in the morning and look at the socks in a drawer, you will wonder what color I am today. Red, blue or polka dot? This is a small happy moment. “Söderlindh Explained in the interview.

According to Fashionista, the female socks branch of Happy Socks’s is about to launch a new product line-Hysteria, in order to increase the sales of female socks by 10%. Although the brand has corresponding products in the fields of underwear, children’s socks, sports socks and men’s and women’s socks, the company’s financial report shows that sales of women’s socks account for only 30% of the total turnover, with large room to expand.

Based on this, Hysteria will incorporate a more avant-garde and trendy design, and make it more suitable for women’s clothing. The first series will use a wide range of materials-printed nylon, mercerized cotton and soft blends, etc. More importantly, most of the socks are all ankle-length, and are thin enough to facilitate wearing high heels and narrow-edged shoes.

Paula Maso, the design director of the new product line, said in an interview that the brand’s performance on the market and social networks has previously been deviated. For female consumers, they seem to feel that the design of Happy Socks is somewhat neutral or too street. This inspired the creative team to develop new products.

In fact, the socks market is no longer an emerging market. In addition to Nike, Addidas and other professional sports brands have launched socks in their accessories, the most famous is the American brand Stance. The company signed an agreement with the NBA and MLB and become famous for being the official sports socks supplier. Meanwhile they work with POP star like Rihanna and so on. Stance was established a year later than Happy Socks, but it was prepared. According to the trend website XXLmag, Stance just announced a few days ago that it will cooperate with hip hop singer DOOM to launch a limited capsule series.

But Söderlindh said that he wss not afraid of fierce competition. On the contrary, more and more “players” in the market will help the growth of Happy Socks. “Competition can bring virtual growth.”   Though there are more and more brands playing in this market, he believes that Happy Socks has its own clear positioning in this field in terms of innovation, art, design and fun. Their brand is unique.     

Since its foundation, the collaboration series have been the cornerstone of Happy Socks ’growth. The latest collaboration chose to pay tribute to the Beatles, printing the cartoon characters that appeared in the Beatles TV show in the 1960s on the socks. More often, Happy Socks will let the collaborating artists freely play on the blank sock template, and then directly go into manufacturing.

Printed socks have gradually changed from a daily product to an accessory to complete the look, and even a carrier of popular culture. Investors also saw the “sock culture” that is about to become the next major trend. In January this year, investment group Palamon Capital bought the majority of equity in Happy Socks for about US $ 80 million, and the data shows that last year’s total turnover Reached 100 million euros.

Last year, the New York Times published a report on the removal of the dress code for work. Professor Susan Scafidi, founder of the Fashion Law Institute, said: “We are entering an era where personal expression of desire will exceed professional identity. This is a huge power change.” Such a transformation can start with a pair of printed socks.

Post time: Apr-16-2020