Bombas looks to keep growing beyond 'Shark Tank' with a new CEO
Company president Jason LaRose will take over as Bombas tries to expand its wholesale presence
In a bold step forward — albeit in socked feet — Bombas is lacing up for its next phase of growth with a new leader at the helm.
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Per CNBC, David Heath, co-founder of the direct-to-consumer sock company, is stepping down as CEO, handing over the reins to Jason LaRose, the company’s president and a retail veteran who previously led Under Armour’s (UA) North America business.
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The leadership change, effective Thursday, marks a strategic shift as the brand known for its comfortable basics and one-for-one donation model matures beyond its “Shark Tank (DIS)” roots. Bombas has created the TV show’s best-selling product in history.
“We’ve reached a size and scale that is beyond my expertise,” Heath, who is staying on as executive chair, told CNBC (CMCSA). “I found myself more so over the last 18 months saying, ‘I don’t know what to do next.’”
“So then, when I looked at someone with Jason’s background … having that tried-and-true experience is what will set Bombas up to succeed for the next chapter, and I think I feel more comfortable having someone with Jason’s experience in the driver’s seat.”
Bombas, largely a sock company, has topped $2 billion in lifetime revenue and boasts double-digit EBITDA margins, and the company grew sales 22% in its current fiscal year through April. Its fastest-growing category? Not socks, but slippers.
Still, socks remain central to Bombas’ identity, with sales in the segment up 17% year-over-year in April. But scaling a sock empire online only goes so far, and LaRose is now tasked with expanding the brand’s reach in the physical world.
“More than 60% of socks in this country are sold in physical locations,” LaRose said to CNBC. “The wholesale opportunity is big for us.”
Right now, about 7% of Bombas’ revenue comes from wholesale partnerships with retailers such as Nordstrom (JWN), Scheels, and Dick’s Sporting Goods (DKS). LaRose wants to grow that to 10-20% over time. The company is also exploring its own stores, viewing retail not just as a sales channel, but as brand theater.
For a brand like Bombas — its flagship socks retail for about $15 and promise “soothing compression, seamless toes, and no blisters” — tactile experiences matter.
The shift acknowledges a growing consensus in the DTC world: Digital-only brands eventually hit a ceiling. Between rising acquisition costs and the diminishing returns of online ads, physical retail — whether through partnerships or proprietary stores — can offer more efficient growth and better brand visibility.