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Business

Can Bombas Reach CLIENTS while Maintaining Its Social Mission?

July 26, 2022

Bombas was were only available in 2013 with a dual mission: to provide quality socks and donate much-needed footwear to people surviving in shelters. By 2021, it had become among Americas most visible buy-one-give-one companies, with over $250 million in annual revenue and 50 million pairs of socks donated.

Initially the business had to determine how exactly to price its product. Socks are usually a cheap item of clothing, however the founders needed a cost that would permit them enough margin to provide on the social mission. In addition they needed to know what role that mission should play within their marketing. Later, as Bombas expanded into underwear, t-shirts, and slippers, the business struggled to find out what pace of growth would best let it reach clients while maintaining its social mission. Harvard Business School assistant professor Elizabeth Keenan discusses the case, Bee-ing Better at Bombas.

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