Imagine the anticipation of waiting for a package to arrive at your doorstep (or to the mail room). Now, imagine that happening once a month and each time the package contains a fresh pair of unique socks.
That’s what Oklahoma native Bryan Deluca and his Dallas-based team are doing with their company Foot Cardigan. For a $9.00 monthly subscription, they send one pair of wild and crazy socks, not found anywhere else in the world.
“Having a steady income of socks, which is kind of something you don’t see all the time. … I think it’s a really good idea,” Oklahoma Christian University senior Sean Bolin said.
After quitting their jobs in 2011, Deluca and his wife set off on a three-month tour of Europe. However, Deluca quickly realized he didn’t leave home with enough socks.
Deluca knew he needed to replenish his sock supply, so he stopped in a shop in London to purchase a package of what happened to be crazy socks.
“Out of necessity it became my thing because I had to wear them on that trip,” Deluca said. “And then when I got back to the states I kind of was the sock guy now, and so anywhere I could find fun socks, because they were still pretty new at that point, I would go buy them.”
According to Bolin, who has approximately 15 pairs of crazy socks in his collection, socks are a great way to express yourself.
“I feel like socks are a way of showing personality without being too flashy,” Bolin said. “They aren’t always up in people’s faces but they can still bring a little extra color or extra life to your wardrobe.”
Not long after his trip, Deluca heard of a new business venture called The Dollar Shave Club. Dollar Shave Club is a subscription service specializing in razors. The premise: sign up and pay a nominal monthly fee and the company sends a razor handle with four replacement blades. Each subsequent month, they send additional blades, cutting out the need for a trip to the store.
Deluca said he was intrigued with the company and their ability to bring back the subscription service.
“So that became something I was obsessed with over the next few weeks, like man, I really think the subscription model could go crazy if it’s done right, what are some things that would warrant a subscription?” Deluca said.
Because of his experience in Europe and his new love for socks, Deluca said he eventually thought of a monthly sock subscription.
“Foot Cardigan is an awesome idea because it’s a monthly way to spice up your wardrobe,” Oklahoma Christian junior Ellie Haynie said. “And the monthly gifts are fun to get in the mail because you never know what you’re going to get. And it’s not stupid like fruit of the month.”
So, Deluca put together a team consisting of himself, Tom Browning, Kelly Largent and Matt McClard to begin testing for the idea.
“We tested for about 45 days and the response was really overwhelming and people wanted a sock subscription,” Deluca said. “Less than three months after we saw the Dollar Shave club video, on June 1, 2012, we were live.”
Fast forward to the Oct. 9, 2015 — Deluca and McClard appeared on the ABC show “Shark Tank.” On the show entrepreneurs have the opportunity to pitch their fledgling business to the sharks — a group of powerful corporate professionals — and hopefully receive a deal.
Foot Cardigan was able to make a deal with two sharks: $250,000 for 20 percent stake in the company.
Since the appearance, Deluca said business has skyrocketed.
“It’s just been freaking insane,” Deluca said. “So we were on two weeks ago and the first week after the show we doubled our subscribers. There was a period of time on Friday and Saturday after the show aired that we had a new subscriber every ten or fifteen seconds.”
According to Deluca, he and the team expected the hype to die down, but their sales have stayed high since the episode aired.
Deluca also said his company does not plan to use their “Shark Tank” fame as a crutch.
“I think it is important for a business who has been on the show that they don’t get caught up in the ‘Shark Tank’ vortex of doom,” Deluca said. “And what I mean by that — I think it’s really easy when you’re on the show to latch on to ‘Shark Tank’ as that’s the thing you’ll always be defined by as a business.”
Foot Cardigan sends out socks that are unique to their company — specifically designed for the company.
“We want to use the sock as a canvas, not just simple patterns all the time, we can think of some crazy stuff too,” Deluca said.
Each design is typically used only once, with a few exceptions, and there might only be 6,000 duplicates of each pair in the world.
Deluca said college students should be interested in Foot Cardigan because they do all the work for you.
“I think something like a sock subscription is something that college students need, you need socks, it’s a cool thing to be a part of,” Deluca said. “The great thing about it, any college student, you don’t want to have to get it yourself. We will deliver it right to you so you don’t have to do anything and it just shows up right to your dorm room or wherever college students get mail these days.”
According to Haynie, who owns about 20 pairs of fun socks, Foot Cardigan could help show who she is.
“It’s a good way to express your individuality,” Haynie said. “I like to express myself without flaunting it to the world because it’s getting to be a little bit crazy, but the crazy is hidden.”
For more information about Foot Cardigan or to sign up for a subscription, visit their website. To watch the company’s appearance on “Shark Tank” visit ABC’s website.
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