• Investing
  • Stock
Round Table Thoughts
  • Economy
  • Editor’s Pick
Home Editor's Pick ‘Shark Tank’ alum Bombas taps former Under Armour exec as CEO as it looks beyond digital roots
Editor's Pick

‘Shark Tank’ alum Bombas taps former Under Armour exec as CEO as it looks beyond digital roots

by May 16, 2025
by May 16, 2025 0 comment
Share
0
FacebookTwitterPinterestWhatsapp

Bombas founder David Heath is stepping down from his role as CEO as the socks and apparel company looks to expand beyond its direct-to-consumer roots.

Bombas President Jason LaRose, a former Under Armour and Equinox executive, will take over as the company’s next CEO effective Thursday. Heath said he realized it was necessary for a retail veteran to lead the company through its next phase of growth.

“We’ve reached a size and scale that is beyond my expertise. I didn’t come from a big apparel company before … I found myself more so over the last 18 months saying, ‘I don’t know what to do next,’” Heath, who is staying at Bombas as its executive chair, told CNBC in an interview. “So then, when I looked at someone with Jason’s background … having that tried and true experience is what will set Bombas up to succeed for the next chapter and I think I feel more comfortable having someone with Jason’s experience in the driver’s seat.” 

LaRose, who spent six years at Under Armour and oversaw its North America business, takes the helm at a critical point in Bombas’ growth story. 

Bombas’ revenue has grown 22% in its current fiscal year through April, it’s reached more than $2 billion in lifetime sales and its EBITDA is at a “super healthy, double digit” margin, LaRose told CNBC. The company’s footwear segment, such as its ultra-popular Sunday Slipper, is expanding the fastest. The company expects footwear revenue will soar more than 70% this year, but socks are still growing steadily, with sales up 17% in April compared to the prior year. 

But in order to reach its goal of growing from a “Shark Tank” startup into a multibillion dollar company over the next five-to-10 years, Bombas needs to expand its wholesale presence. Retailers that primarily sell online like Bombas tend to reach a growth ceiling and need to turn to other channels to keep scaling profitably.

Under LaRose’s direction, Bombas is looking to grow its wholesale revenue from around 7% of sales to between 10% and 20%. The company also wants to test out physical stores. 

“More than 60% of socks in this country are sold in physical locations, you know, whether that’s stores we could open, or stores that we fill with our partners … the wholesale opportunity is big for us,” said LaRose. “It’s also a billboard for us, right? It’s a chance to tell our story. When the customer walks by, we have a chance to tell them about the mission every time, why we’re here, let them touch and feel the product, which is always important when you’re introducing somebody to a new apparel brand.” 

Bombas currently sells in Nordstrom, Scheels and Dick’s Sporting Goods, and unlike some of its peers, it isn’t considering Amazon as a wholesale channel. Instead, it’s looking to expand its assortment offered by its current partners, try out its own stores and perhaps bring on some new wholesalers — if they’re the right fit. 

Digitally native brands that have long enjoyed the benefits of a direct model, such as customer data and the ability to stay close to customers, are often wary about expanding too deeply into wholesale because it’s less profitable and it’s harder for brands to tell their stories. For a company like Bombas, which spent years developing what it calls the “most comfortable socks, underwear, and T-shirts” on the market, that storytelling is extremely important — especially at a price point of around $15 per pair of socks. 

However, it’s that very attitude that has led some to criticize the direct selling model because of how it can stymie growth and lead to unsustainable business models. Many of the early direct-to-consumer darlings have seen their valuations shrivel up as they chase profitability years after they were founded. E-commerce has become harder to do profitably, and at a certain point, stores and wholesale are a more effective and profitable customer acquisition tool for some companies than marketing online. Selling goods through wholesale channels allows brands to scale and acquire customers more profitably than just selling online.

Brands like Bombas that were early to move to wholesale — Heath joked that the company “focused on profitability before it was cool” — understand the need for expansion but have looked to be strategic about who they partner with. Growth is important, but so is maintaining a brand, which is critical to staying ahead of rivals. 

“As a DTC brand, we care so much about our brand and our story, it has to be somebody who’s going to do an excellent job taking care of our brand. We’re not out there to be out there,” said LaRose. “We’re looking at some other partners. We’ll continue to always look for people who we think strategically give us access to the right customer, you know, nothing to announce yet on that front, but we’ll keep looking.” 

Disclosure: CNBC owns the exclusive off-network cable rights to “Shark Tank.”

This post appeared first on NBC NEWS
You Might Also Like
  • Hims & Hers Health says it will offer compounded GLP-1 injections
  • Trump transfers all his DJT shares to his revocable trust, SEC filings show
  • Second wave of 5G: 30 countries to launch services in 2023
  • Hooters to close ‘underperforming’ restaurants amid broader industry woes
Share
0
FacebookTwitterPinterestWhatsapp

previous post
What Sector Rotation Says About the Market Cycle Right Now
next post
Reddit co-founder Alexis Ohanian takes minority stake in Chelsea FC women’s team

You may also like

More than 75,000 workers to strike at hundreds of Kaiser...

October 9, 2023

Ford is recalling 870,000 F-150 pickups due to potentially faulty...

August 1, 2023

Honda recalls thousands of Honda CR-V hybrids over electrical issue...

December 21, 2023

Electric air taxi maker Archer Aviation gets key FAA sign-off

June 6, 2024

Anne Wojcicki to buy back 23andMe and its data for...

June 16, 2025

Soaring egg prices are threatening a classic holiday tradition: Easter...

March 1, 2025

We found many loose bolts on our Max 9 planes...

January 25, 2024

Home price growth is back at pre-pandemic levels. Here’s what...

March 27, 2024

OpenAI closes funding at $157 billion valuation as Microsoft, Nvidia,...

October 3, 2024

IoT Analytics: 5 IoT sensor technologies to watch

January 17, 2023

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Breakdown of NVDA’s Stock Price and S&P 500: Actionable Technical Insights

      June 26, 2025
    • Find Highest Probability Counter-Trend Setups

      June 25, 2025
    • Small-business AI use is lagging, but one firm is channeling Sherlock Holmes and knocking out ‘grunt work’

      June 25, 2025
    • Nvidia CEO Huang sells $15 million worth of stock, first sale of $873 million plan

      June 25, 2025
    • Shifting Tides in the Stock Market: A New Era for Bulls?

      June 24, 2025

    Popular Posts

    • 1

      Biden appointee played key role in recruiting Chinese...

      June 25, 2024 3,611 views
    • 2

      Trump-era China sanctions ended by Biden may be...

      June 27, 2024 2,893 views
    • 3

      Walz’s honeymoon with China gets fresh scrutiny as...

      August 9, 2024 2,586 views
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful...

      July 10, 2024 2,549 views
    • 5

      Harris VP pick spent years promoting research facility...

      August 29, 2024 2,427 views

    Categories

    • Economy (7,009)
    • Editor's Pick (2,148)
    • Investing (538)
    • Stock (2,632)

    Popular Posts

    • 1

      Biden appointee played key role in recruiting Chinese businesses to Delaware: ‘Longtime friends’

      June 25, 2024
    • 2

      Trump-era China sanctions ended by Biden may be revived under new House GOP bill

      June 27, 2024
    • 3

      Walz’s honeymoon with China gets fresh scrutiny as Harris camp blasts ‘lying’ critics

      August 9, 2024
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful of Chinese spy threats

      July 10, 2024
    • 5

      Harris VP pick spent years promoting research facility that collaborated with ‘Chinese military company’

      August 29, 2024

    Latest News

    • Breakdown of NVDA’s Stock Price and S&P 500: Actionable Technical...

      June 26, 2025
    • Find Highest Probability Counter-Trend Setups

      June 25, 2025
    • Small-business AI use is lagging, but one firm is channeling...

      June 25, 2025

    Categories

    • Economy (7,009)
    • Editor's Pick (2,148)
    • Investing (538)
    • Stock (2,632)

    Disclaimer: RoundTableThoughts.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 RoundTableThoughts.com. All Rights Reserved.

    Round Table Thoughts
    • Investing
    • Stock
    Round Table Thoughts
    • Economy
    • Editor’s Pick

    Read alsox

    Saving money to buy a house?...

    October 22, 2023

    Tesla agrees to first deal to...

    June 21, 2025

    Boeing CEO, other executives stepping down...

    March 26, 2024
    Sign In

    Keep me signed in until I sign out

    Forgot your password?

    Password Recovery

    A new password will be emailed to you.

    Have received a new password? Login here