STANCE socks has been continuing to make huge strides as a fairly new brand and product category in the action sports industry, and that seems to be paying off. The brand was named with TransWorld Business’ Most Innovative Product Award for 2012, and we touched base with brand President John Wilson to find out the secret to their succes.
What does this award mean to you and your efforts to support specialty retailers?
This award is proof positive that what we’re doing resonates with our retail partners. We brought them a unique concept and a new way to make money on the retail floor. Both of which are very difficult to do in today’s market.
What were the highlights of 2012?
For starters we’re really proud of the positive sell-through at retail. We also launched our new women’s product line that has received a tremendous response and launched a new website that we’re very excited about. Not to mention some incredible team acquisitions such as John John Florence and Nyjah Huston.
Why do you think this product has been so well received?
By giving the consumer a new manner in which to express their individuality we feel that we created a new category where before there was a mostly commoditized product.
What have you done to support sales at specialty shops?
The majority of our brand marketing efforts have been directed at supporting sales at the specialty level. We focused on the trinity; great product, great margin and great in-store. By offering a compelling product story with a high gross margin on a compact easy to shop fixture, we’ve been able to make solid strides in supporting sales and the specialty level. Although progress has been made, there is still lots of work to be done!