Bombas, the popular sock and T-shirt brand that gained fame on Shark Tank, is entering a new phase of growth. The company has announced that co-founder David Heath is stepping down as CEO. Taking over is Jason LaRose, a seasoned retail executive with past leadership roles at Under Armour and Equinox.
Leadership Shift for Strategic Growth
David Heath, who co-founded Bombas in 2013 and helped turn it into a profitable business with over $2 billion in lifetime sales, is moving into the role of executive chairman. He shared that the company has grown to a point where it needs leadership from someone with strong retail experience.
“We’ve reached a scale beyond my skill set. Bringing in someone like Jason will help us succeed in the next chapter,” said Heath.
LaRose Brings Retail Expertise
Jason LaRose officially becomes CEO this week. With six years at Under Armour, where he led the North America division, LaRose steps in at a time when Bombas is seeing strong momentum:
- 22% revenue growth so far this fiscal year
- Over $2 billion in total sales
- Double-digit EBITDA margins
- Footwear sales, especially the popular Sunday Slipper, are expected to grow 70% this year
- Sock sales continue to rise, up 17% year-over-year in April
Looking Beyond Direct-to-Consumer
While Bombas began as a direct-to-consumer (DTC) brand, it now wants to expand into wholesale and explore physical retail. Currently, about 7% of sales come from wholesale, but the company plans to grow that to 10%–20%.
“Over 60% of socks are still sold in physical stores,” said LaRose. “Wholesale gives us a chance to tell our story, and let customers feel the product.”
Strategic Expansion Plans
Bombas already sells through Nordstrom, Scheels, and Dick’s Sporting Goods. However, the company is not interested in using Amazon as a wholesale partner. Instead, it will focus on:
- Expanding product ranges with current retail partners
- Testing its own branded stores
- Carefully selecting new retail partners that align with Bombas’ brand values
Balancing Growth and Brand Integrity
Many DTC brands hesitate to expand into wholesale due to concerns about profit margins and losing control of brand messaging. But Bombas aims to strike the right balance between scaling and protecting its identity.
“We care deeply about our brand,” said LaRose. “We’ll only partner with retailers who treat it with the same care.”
Conclusion
As Bombas moves forward with new leadership and a clear expansion strategy, the brand is focused on sustainable growth while staying true to its mission of creating the most comfortable apparel. With the right partnerships and retail presence, Bombas aims to grow into a multibillion-dollar company over the next decade.
