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Happy Socks

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Happy Socks
IndustryRetail
Founded2008; 16 years ago (2008) in Stockholm, Sweden
FounderViktor Tell, Mikael Söderlindh
ProductsSocks, underwear, swimwear
ParentPalamon Capital Partners (majority shareholder)
Websitewww.happysocks.com
Happy Socks Store Silverlake, California

Happy Socks is a Swedish manufacturer and retailer of socks, underwear, and swimwear. The company was founded in 2008 by Mikael Söderlindh and Viktor Tell who respectively took on the roles as CEO and creative director. In 2017, Palamon Capital Partners acquired the majority share and Stefan Fragner became CEO. Their merchandise is sold in 90-plus countries, with 12,000 points of sale, as well as online, and over 100 Happy Socks stores. [1]

In addition to its headquarters in central Stockholm, Sweden, in 2018, the company opened its first office abroad in New York City,[2] followed by an office in Munich, Germany in January 2019 in order to operate all wholesale accounts directly.[3]

Company history

Happy Socks began in April 2008, when Mikael Söderlindh, an advertising executive, and Viktor Tell, an illustrator and graphic designer, came up with the idea of colorful, printed socks. Three weeks later, they began production in a Turkish factory. The socks launched for a price point of $10 and were initially sold on the company’s own website. In the first year, Happy Socks' turnover was €1,000,000 (US$1,136,750). Sales doubled the next year.[4] Since then the company has grown about 50% annually.[5]

In 2016, the brand generated retail sales of $106.4 million.[6]

The company opened a new headquarters in 2017. Called the Happy House, the six-story building is located in central Stockholm. The same year, private equity firm Palamon Capital Partners acquired a majority stake from Scope Growth III. At the time, they invested $81.2 million in Happy Socks stock, and Palamon invested about $4.5 million of growth capital that the founders used to build namesake stores around the world.[7]

As of 2018, the brand had sold more than 40 million socks worldwide. Happy Socks expanded to produce underwear and kids socks in 2014, as well as an athletic collection aimed at sneaker wearers and a dressed collection for men more into tailoring in 2015. Later in 2017, they launched Hysteria, a fashion collection in materials such as slinky viscose, glitter, and nylon that is manufactured in Portugal and Italy.[8] With Happy Socks already in upscale stores like Barneys New York and Opening Ceremony, this new collection designed by associate creative director, Paula Maso,[9] moved Happy Socks into retailers such as Selfridges, John Lewis, Urban Outfitters Tessuti,[10] Bloomingdales, Galeries Lafayette, Voo Berlin, and 10 Corso Como.[11]

By the end of 2018, Happy Socks had opened 100 concept stores in cities such as Paris, London, Barcelona, Los Angeles, Stockholm, and Tokyo. In December, the brand opened its third New York City location in Times Square to add to its Soho and Williamsburg, Brooklyn facilities.[1] In May 2019, Happy Socks opened their second Happy Socks store in Los Angeles. This concept store situated in Silver Lake, Los Angeles is also home to The Rabbit Hole, a creative hub for the brand where a small team, which includes both the founders, work on special projects.[12]

Happy Socks began producing men's swim trunks in 2018.[6] In Spring 2019, Happy Socks expanded the swimwear to include a women's line, slider footwear, beach bag, towel and pool float, all using the vibrant prints for which the company is known.[13]

Celebrity partnerships

Collaborations have always been an important part of the brand's DNA. In addition to the Happy Socks original line, the brand had attracted a number of celebrities who would collaborate on creative projects and sock designs. In 2013, David LaChapelle photographed the fall marketing campaign, which featured male and female dancers with socks and nothing else.[14]

Film director Robert Rodriguez, known for El Mariachi, From Dusk Till Dawn, and the Spy Kids franchise, created “Sock ‘Em Dead,” a short promotional movie starring Madison Davenport (From Dusk Till Dawn: The Series) as an actress making a vampire film who utilizes socks as a weapon. Danny Trejo and Wilmer Valderrama also star. Rodriguez's sock designs were vampires.[15]

Video director Tim Erem partnered with Happy Socks to make a promotional video called "Happy Holidays" during 2018 that starred a tap-dancing Pedro Pascal, and choreography by Michael Rooney.[16]

Marking its 10th anniversary in 2018, Happy Socks released designs that paid tribute to Andy Warhol, a collaboration with recording artist Wiz Khalifa, and a second Beatles series, this one celebrating the 50th anniversary of the group's film, Yellow Submarine.[1] In addition, the company has collaborated with the Elton John AIDS Foundation and released Keith Haring socks and underwear.[17]

Happy Socks' other collaborations include Iris Apfel, Ellen Von Unwerth, and André Saraiva; brands like Adidas, Pharrell's Billionaire Boys Club, and Giles Deacon; and other musicians A$AP Rocky, Miike Snow, Steve Aoki[18] and Rolling Stones.[19]

In April 2019, Happy Socks released a short film collaboration with David Hasselhoff called "The Hoff's Day Off" that includes swimwear in colourful prints and summer accessories for men and women.[20] Hasselhoff stars in the accompanying video campaign.[21]

See also

References

  1. ^ a b c Bell, Jennie (11 December 2018). "Happy Socks Opens Its 100th Store in the Heart of Times Square". Footwear News. Retrieved 4 March 2019.
  2. ^ Garner, Stephen (19 September 2017). "Happy Socks To Open New York Office To Focus On North American Expansion". Mr Magazine. Retrieved 29 March 2019.
  3. ^ "Happy Socks: Übernahme der DACH-Region". Textilmitteilunger. 22 November 2018. Retrieved 29 March 2019.
  4. ^ Carter, Meg (16 December 2011). "Happy Socks Builds A Business–And Happiness–Two Feet At A Time". Fast Company. Retrieved 3 March 2019.
  5. ^ "Happy Socks". oasiscapital.com. Retrieved 29 March 2019.
  6. ^ a b Hughes, Aria (27 April 2018). "Starrett-Lehigh: The Fashion Houses' Home FASHION INTIMATES Happy Socks Founders Map Out Expansion Strategy". WWD. Retrieved 4 March 2019.
  7. ^ Hughes, Aria (8 February 2017). "Happy Socks Opens New Stockholm Headquarters". WWD. Retrieved 4 March 2019.
  8. ^ Hughes, Aria (28 August 2017). "Happy Socks Goes After Women". WWD. Retrieved 4 March 2019.
  9. ^ Pina, Tanisha (28 September 2017). "I Never Cared About 'Cute' Socks Until I Saw These". Racked. Retrieved 28 March 2019.
  10. ^ Spybey, Kat (26 November 2014). "Happy Socks to open UK flagship in London". Drapers. Retrieved 29 March 2019.
  11. ^ Pavarini, Maria Cristina (11 October 2013). "Happy Socks collaborate with David LaChapelle". Sportswear International. Retrieved 29 March 2019.
  12. ^ Arden Chong, Dale (1 May 2019). "Happy Socks opens new Creative Hub with second Los Angeles location". Fashion United. Retrieved 4 May 2019.
  13. ^ Driver, Robin (10 April 2019). "Happy Socks expands into swimwear for SS19". Fashion Network. Retrieved 12 April 2019.
  14. ^ Lipke, David (9 October 2013). "David LaChapelle Lenses Happy Socks Campaign". WWD. Retrieved 4 March 2019.
  15. ^ Solomon, Dan (20 October 2015). "Experience The Terror Of Happy Socks In A Very Meta Short Film From Robert Rodriguez". Fast Company. Retrieved 3 March 2019.
  16. ^ Binlot, Ann (12 November 2018). "Watch 'Game Of Thrones' And 'Narcos' Actor Pedro Pascal Dance Into The Holiday Season With Happy Socks". Forbes. Retrieved 3 March 2019.
  17. ^ McBain, Amelia (27 April 2018). "The Happy Socks Founders Embrace 'Love For All' With Keith Haring". Out Magazine. Retrieved 4 March 2019.
  18. ^ Binlot, Ann (9 May 2018). "Happy Socks Turns 10 After Collaborations With Iris Apfel, Snoop Dogg, A$AP Rocky, The Beatles". Forbes. Retrieved 1 April 2019.
  19. ^ Sahai, Fred (8 March 2019). "A Stones Rocker for Each Pair of Socks from their Happy Socks Collab". L'Officiel. Retrieved 1 April 2019.
  20. ^ Soo Hoo, Fawnia (9 April 2019). "A BONKERS CHAT WITH DAVID HASSELHOFF ABOUT HOFF MERCH AND HIS STARRING ROLE IN THE HAPPY SOCKS SUMMER CAMPAIGN". Fashionista. Retrieved 12 April 2019.
  21. ^ DeAcetis, Joseph (9 April 2019). "David Hasselhoff Stars In Happy Socks First Swim Collection Celebrating A Carefree Heart Of Summer". Forbes. Retrieved 12 April 2019.
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