The fashion tech is taking a new runway. Investors have now turned to starting a collection of underthings. New companies are now joining this spate of online underwear startups that have blossomed dramatically over the past 5 years. The new challenge lies in offering an alternative approach to establish yourself in the massive underwear market.
Over 100 firms and venture investors have closed deals on starting up online underwear companies after the industry started showing up some green shades in 2012. An underwear company may seem like a strange opportunity to go for but those currently in the business, most of them being early-age investors just testing the waters, have gained huge revenues and still counting.
“Underwear alone in the U.S is hovering to the excesses of $15 billion+ from revenue every fiscal year”, says Bryan Lalezarian, the CEO MeUndies. New online companies like Saxx Apparel, Victoria’s Secret that specialize on premium underwear have taken a new look. The likes of MeUndies, Tommy John, Mark Weldon have taken the revenue accrued on sales to a new breathtaking level- all recently closed revenue rounds of seven dollars and are launching global campaigns for their ideal underwear.
If you take a keen look on the social media platforms we have today- Instagram, Facebook, Snapchat, Instagram, you’ll find that there are a lot of unique ways through which companies can reach out to their customers. Companies can connect with customers globally to sell their brand, tell a story of a new orientation or deliver a message.
Dependence on intermediaries to reach to the customers has been the main cause these basic brand’s ventures have historically failed to perform well. The Internet and social media have delivered this very strongly by eliminating the services of middlemen. Henceforth, this market has experienced a potential remarkable success.
The biggest plus in selling online is that once a product is sold, it serves like a straight shot to the market. As long as the customer enjoyed the comfort of the basic brand, the company can keep him or her in the long-run. People will not cease the need for an underwear and so they will keep coming for more. Investors often say that customers come in a replenishing cycle.
The internet and tech come in handy in the replenishing cycle. Developers have revolutionalized the app industry such that an app can be tailored-made to deliver what the need be. Underwear companies have embraced this revolution and introduced mobile applications that remind a customer that he or she needs to get an addition in her underwear pack. These tech-driven basics have boosted sales revenue at a deafening speed.
These online underwear companies have also turned into hiring young men to promote their products. It’s not too long after five middle-aged men were questioned in a conference room following their recent undertaking of plastering aggressive images of nearly naked men almost everywhere. These men proudly pointed out that they were taking the focus off the crotch shots. The underwear sales have been turned from a basic category to a new fashion in town. Despite that, there are plans in place to make the advertisements more aloof.
In conclusion, the majority of men are now uncomfortable with underwear shopping and will opt to trawl online stores and buy a pack of 5 or more that will be delivered right to their doorstep. The social networking services have been earmarked as an essential toolkit for online companies. Companies that have rocked into utilizing this privilege have been tipped to rake even more success.