Socks.
They’re a basic necessity, but let’s be honest, they can also be a source of frustration. Bunching, slipping, and constant wear-and-tear are all too common.
David Heath and Randy Goldberg experienced this while volunteering at a homeless shelter in New York City. They noticed the homeless often lacked proper footwear, including socks.
But the cheap, low-quality socks available only added to their discomfort.
Heath and Goldberg saw a need, and instead of feeling frustrated, they decided to act.
Thus, Bombas was born in 2013.
Their mission?
To provide high-quality, comfortable socks to everyone while also giving back to those in need.
A couple of weeks ago, I shared the story of Bonne Maman Jam and how the company’s legacy may go back to WWII France and a family who protected Jewish families.
While Bombas’ story may not be as dramatic, it is the same concept – a company born out of compassion that is outracing its rivals while pursuing ethical goals.
The Bombas Story
It all started with a casual scroll through Facebook. For most of us, it’s just a mindless habit – getting lost in the infinite feed of posts, updates, and ads. But for David Heath, one particular post stopped him dead in his tracks. It was about socks – something so simple, so commonplace that most of us take them for granted.
The post mentioned that socks were among the most requested clothing items at homeless shelters across America. David was stunned. “I started carrying around socks in my backpack,” he said. “Once I started having human interactions with people experiencing homelessness, and giving them a pair of socks, I saw how transformative that small item was.”
As David reflected more, a kernel of inspiration took root. What if there was a company that could help provide socks to those in need?
Not through charity but by “baking giving into the business model itself. “
The idea of ‘one purchase=one donation’ was already built into the first pre-sale of socks in 2013,” David explained, “and continues to be Bombas’ core mission. We wouldn’t exist without it.”
But to really make an impact, to donate socks on a massive scale, they couldn’t just make any ordinary sock. David started “focusing on a specific segment—specialty socks for athletic activities—where a tremendous amount of innovation is embedded to provide arch support, comfortable foot beds, and fabrics that wick moisture.”
He thought, “Maybe I can take some of this technology and innovation and bring it to the mass market.”
A Truly Authentic Brand Mission
From that single insight blossomed Bombas – a company founded not just to turn a profit, but to fight homelessness and promote human dignity through the highest quality socks. As David put it, “We want to be a truly authentic brand that delivers the mission.” What started as lending a hand to those without shelter quickly became about much more.
Bombas’ greatest inspiration is how they wield capitalism as a force for compassion. This idea that began as a casual observation has blossomed into an uplifting movement, showing the world that doing good and doing good business not only can co-exist – they are inextricably intertwined.
From that mission-driven genesis, Bombas (the name deriving from the Latin word for bumblebee) has blossomed into a successful sock brand rooted in social impact. The company donates socks and encourages employees to volunteer to distribute them.
“Bees are altruistic animals,” David notes. “They work together as a hive to make their world a better place.”
Lessons Learned from Bombas’ Success Story
Bombas’ journey from frustration to fortune offers valuable lessons for aspiring entrepreneurs and businesses alike:
- Identify a Need, Fill a Gap: Great businesses often begin by addressing a real need. Heath and Goldberg saw a gap in the market (uncomfortable socks for everyone and a lack of good-quality socks for homeless shelters) and created a solution.
- Mission Matters: A strong mission statement that goes beyond profit can be a powerful motivator. Bombas’ focus on quality, social impact, and ethical practices fuels their success.
- Social Impact Makes a Difference: Consumers are increasingly drawn to brands with a social conscience. Bombas’ “one-for-one” model resonates with their audience.
- Quality is Key: Don’t underestimate the power of a great product. Bombas’ focus on creating comfortable, high-quality socks is a core element of their success.
- Embrace Stakeholder Capitalism: Consider the well-being of all stakeholders, not just shareholders. Bombas’ commitment to employees, social good, and ethical practices reflects this approach.
- Doing Good and Doing Well Can Coexist: Financial success and positive social impact are not mutually exclusive. Bombas is a prime example of a company thriving while making a difference.
What started as an effort to provide high-quality socks has evolved into a multifaceted mission to champion comfort, dignity, and equality.
As the company continues to grow, its commitment to “bee” a force for good only strengthens. By knitting social impact into the very fabric of its business model, Bombas is reshaping the way companies can create value for shareholders while also creating value for society.
The Bombas story encourages us all to look at everyday frustrations as potential opportunities – to solve problems, fill gaps, and make a positive difference, one sock-covered footstep at a time.
It’s a reminder that conscious capitalism, when guided by authenticity and passion, can be the catalyst for meaningful change.