From outer space to the Margaret Hunt Hill Bridge, Dallas-based Foot Cardigan’s socks feature a variety of fun, wacky designs.
Now, the company, which sells monthly sock subscriptions to 30,000 regular customers around the world, has sold a majority stake to Dallas-based Detail Provisions Co., according to The Dallas Morning News‘ Maria Halkias.
Although the exact financial amount was not disclosed, Foot Cardigan co-founder and CEO Bryan DeLuca said the founders still own a large part of the company. The deal offers foundational resources for brand growth.
“We have bigger aspirations to be a footwear and hosiery brand,” DeLuca told The Dallas Morning News. “So we built this business, but now our plans for growth are aggressive. We didn’t have the supply chain expertise and licensing and retail relationships.”
“We have bigger aspirations to be a footwear and hosiery brand.”
Before the partnership, the company was completely self-funded. After being featured on Shark Tank in 2015, business grew exponentially. In two years, the company’s customer base has grown from 6,000 to 30,000, according to the Morning News.
DeLuca had a previous business relationship with one of Detail Provisions Co.’s founder Paul Song.
“Foot Cardigan has come far without experience in consumer products,” Song told the Morning News.
Other future business ventures Foot Cardigan has in the works is a holiday collaboration with P&G’s Old Spice brand and a pending project with Fox’s The Simpsons.
“We’re spreading our feet wings,” DeLuca told the newspaper.
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