Ten years ago, the socks th"€δ→at people bought were "<<always the same. Althoug₽↓¶≠h they were thick and thin, the styles Ω§were slightly different, but they could✘←€× not escape the monotonous black‌•σ​ and white business style. Nowaday×✘≤ s, socks are not only a necessi€♠ ty for daily life, but also bear ¶α<more important roles in↔± accessories. People express their ₹>aesthetic tastes and he±¶≥βarts with different colors, pattern ♥ ↔s and designs of socks w♥δith different costumes.
Swedish sock brand Happy "∞ •Socks is one of the tre∏α™≤nding hosiery brands. It wa←£₩s founded in 2008 by co-founders Mσ₩"←ikael S?derlindh (and C÷×♣EO) and Viktor Tell ☆•☆↔(and creative director). This$≈ is an inconspicuous company that only ​₩♠produces colored soc€σ÷ks. In 2016, retail sales reachπ∑ed 100 million euros.
Create happy artwork
In the past, people rarely  ★saw people wearing workβ γε-colored socks at work, which is mo←β<‌re prominent in men.δ ∞♦ Last year, the New Yo≤<↑rk Times published an article entitled β<£"End of the office dress code", which c$​'₽ites the new version of thσ"e New York City Municipal Human R ↕ights Act, which opposes employers×‌ forcing male employees tπ♥₹£o tie their ties to wo₹§®rk, calling for a relaxation of me<γ₽♥n’s Office dress code.
Mikael S?derlindh and Viktor ↑←∞ Tell discovered the need fo€♠€r printed socks and the gap in the m≤≥arket before deciding§∞♦ to start Happy Socks. The orig§±>¶inal intention was to ↓ "turn a common item that caα®α↕n be seen everywhere ‍​∑in daily life into color. A happy art¶$work that combines design and ∏ λ∑quality."
Mikael S?derlindh, who has worked in <×→πthe advertising industry for 10÷€‍ years, has a strong business int≤§ uition and rich experience. He under♦σ✔‌stands the importance of cre★♥™≈ativity more than anyone eΩ±'lse. Before becoming a fashion desigβ© "ner, Viktor Tell was a faφπmous graphic designer an£↓λd illustrator in Stockholm.ε₹λ His love of color and the characte∏∞$∞r of the quirky elves provided hi©§♥÷m with a continuous inspiration for ↔∑₽designing Happy Socksλγε. Happy Socks's sock•'∞s are designed with countl®↓βess designs, colors and patte€®£rns to match each mood,α₽∏♣ style and wearing environment ofλλε♦ the wearer.
Since 2008, Happy Socks has sold more t ∏"han 40 million pairs of socks in more t'₹ ♦han 90 countries and 12,00♥≠ 0 retailers worldwide. By the end of 20​∞17, Happy Socks has 50 s$Ωelf-operated stores. In theσ¥ past three years, Happy Socks' s‌λ$ales and EBITDA have g©≤rown by more than 50% annually. Mikae¥₽‍l S?derlindh even said that they haα' ve been profitable since the third mont∑σh of establishment.
Happy Socks has attracted a l&β ot of attention from inves★¶tors. In January, the pan-E♦♠ uropean growth privaφ₩te equity fund Palamon Capital Par∏☆tners acquired a major÷ε§‌ity stake in Happy Socks. The deal va™©∏↕lued Happy Socks at 725 m®₽Ω¶illion Swedish kronor, plus 40 mi•"✔πllion Swedish kronor growth cap"<§ital for Happy Socks, and Happy Sockγ&∑$s' corporate valuation÷  reached 765 million Swedish kronor.
Positioning clearly  €without fear of the opponent☆™
But in today's hosiery≥∑₩ market, Happy Socks also has many str">↔•ong competitors:
The American sock brand α€​φStance is one of them. They used ∑&¶₹to be the official sponsors of the NBA ↓φΩ∞and MLB, and have worked cl∑☆★osely with pop stars such as Rihan​¥na.
Bombas, a sock startup that implemen"∏ts “buy one donate one”, ↕¶↑achieved annual sales of $50 million ∑∏this year;
And start-up socks companies su​§ch as Arthur George Socks, found ★ ed by younger brother Kim Karσ'dashian of social media, K♦"♦≠im Kardashian, are also eating €♠∑©into the market.
Mikael S?derlindh is  ♣≠not worried about this. He said: "Th££π×e fierce competition iα✔★n the market can mak€÷÷e Happy Socks stronger. Our↓φ brand represents cre&$ativity, art, design and↕" fun, and the positioniγα​ng is very clear." D"β♣espite Happy Socks The♠€λ company is growing, but their st‌₹ ↑yle has not changed, and they are alway‍∑®₽s creating a fashion product that "™↑δis intimate.
Expanded category
Although the positioni εng of Happy Socks socks was a ₩γ₽'unisex neutral style sγ‌$€ince its inception, Happy Socks' marke×₽ Ωting and social media campaig§←ns have made female consumers fee↔σl too masculine and street-bas✔Ω↑∑ed, and women's products only accouφ£ nt for 30% of the overal ÷l business. %. This fall××γ•, Happy Socks launched the more fashi↓‍onable women's socks Hyst'→♠ eria for the women's m∏∑arket, using a wider range✘↓ of fabrics, including rayon, nylo₽☆'n, cashmere and merceri∑ ↔♠zed cotton, most of which are very thiΩ☆n and ankle, so women wear high ≠ ∑heels. And narrow shoes, co↕★★•lors and styles are alα↓so more suitable for wλλomen.
Paula Maso, Head of Des♠ ÷$ign at the Hysteria Collection, sa₩↔<id: “Hysteria is very independent, has§♠ its own Instagram, has a unique retaiσ€‌φl display and advertising program. Hy<★"steria will present a more lifestyle∏≥λ™, planning and high-end experδ✔ience.”
In addition, Happy Socks  ↓≠‍now has socks and sports ✔♦ε socks and men's and women's under€÷wear series, launched three d‌​★$ifferent styles of underwearΩφ✔: tight-fitting panties and loose box÷©₩"er briefs for men; tight''↓ triangle underwear highlig‍¶↔hts women's health The ©✔ ×beauty of the curve. Happy Socks ‌×→λbelieves that every consumer should weδλar their favorite socks and unde€♥εrwear.
Retail market deployment
In terms of brand retail deploymenδ​₩t, Happy Socks has also recently takβ♥δen a new move. In September of th↔δis year, after ending the franchise of × ≈American legume production and dist×±→γributor United Legwear, Haβ ♣•ppy Socks decided to open its direct b ₩£usiness in the US market in J​™anuary next year and expand its busi↓>‌©ness in North America↔γ.
Happy Socks will open a new New Yo♦↔rk flagship store on Broa§≤dway West Street 448,ε≥<∑ not far from the first store they ×£← opened in 2013 (the origi₹♦ πnal store is now a Hysteria↓  line of flash stores). Covering an ×'area of 518 square feet (abo₹∞§ut 48 square meters), the ↔ new store will sell a  ↑full range of Happy Socks pro ↑↕ducts, including men'→δ✔s dresses, dresses, ÷↔πwomen's socks Hysteria and some co-br•β'♠anded collections.
My Johansson, Retail O✘ ‍perations Manager at Happy Socks, saidλ​♠: “This store is an opportunity for con☆λsumers to learn about Happy ™♥☆Socks and get close to consumδ₹©↕ers. We will then have a series σ₩♠of fun activities in the s↕€tore.”
Happy Socks plans to open two more ÷λ→<stores in Los Angeles and New York next"÷‌ year, and the location has not ye± t been determined. O§≠±¥ther in-store and fra≥↓₩εnchise stores are also in t↑Ωhe plan of Happy Socks.