Crowdfunding supports growth plans of DillySocks

DillySocks has successfully concluded a crowdfunding campaign on the platform Conda.ch. With 202 investors in total, the Zurich-based brand for colorful, sustainable socks not only hit the 50,000 Swiss francs threshold, but at more than 214,000 Swiss francs, actually exceeded it by 429 percent.

In the presentation of its campaign, DillySocks describes itself as Switzerland’s leading sock brand. Since being founded in 2013, the company has sold more than 2 million pairs of socks in 730 designs. Average growth in the domestic market over the past four years stands at 17 percent. Since 2020, DillySocks has been certified in line with the Global Organic Textile Standard for sustainable manufacturing. The first major commercial partners were secured in Germany in the form of Peek & Cloppenburg and SiNN. This year, the company is on track to “record a relevant profit”.

However, just under 50 percent of sales are generated in the final quarter of the year, according to the company’s crowdfunding page. Investments for the upcoming winter season must be made during the current period when sales are weakest. In addition, DillySocks is keen to exploit existing growth opportunities, especially with regard to internationalization.

Therefore, the fresh capital is to be used to bring someone on board to handle B2B sales management in the German market, for increasing marketing expenses and product development activities. With new functional and stylish products for activities such as hiking and cycling, the aim is to gain new B2B customers such as Intersport and Transa and to expand the growth business with personalized products for companies and organizations. ce/mm