Tuesday, March 5, 2019

The Profit - Feat Socks Update

Tonight on The Profit, Marcus Lemonis is in Los Angeles, California hoping to make a deal with Feat Socks.  Feat Socks is a clothing company that specializes in unique socks that was started by Taylor Offer and Parker Burr.  They have used social media to grow the company and major losses have brought the company to a standstill.  While there, Marcus Lemonis is getting cold feet due to the arrogance of Taylor and Parker and hopes this doesn't prevent them from meeting their goals.

Let's take a look at some information related to Feat Socks as well as what kind of deal was made on the show.

News and Links Related To The Company:

  • Here is the Feat Socks website and Facebook page.  Here is their Instagram that has 161k followers.
  • They currently sell socks, hoodies and hats.
  • In 2015, Feat Socks launched a Kickstarter campaign and that campaign ended up raising $27,784. (Link)
  • Feat Socks applied to be on Shark Tank in June 2016. (Link)
  • In June 2016, Feat Socks tweeted to Marcus Lemonis, "@marcuslemonis just sold some @FeatSocks to @InkkasWorldwear! Pumped to be working with you."  Marcus responded, "Those are some cool socks."  So it appears there was some type of relationship back in 2016. (Link)
  • There is a November 2017 Starter Story blog post written by founder Taylor Offer about Feat Socks which details a lot of information about the business.
    • He said they went from about 15 employees to 5 as they cut down on sales staff.  He also said the main focus was to build their brand through social media.
    • When Olympic Gold Medalist Aly Raisman posted an Instagram picture in Feat Socks, their sales went from $20,000 a month to $200,000 a month and their Instagram following increased by 5 times.
    • When popular YouTuber Logan Paul featured Feat Socks on a few of his videos, that generated $500,000 in sales.
  • In September 2018 during the filming of The Profit, Marcus Lemonis challenged Feat Socks to sell 30,000 pairs of socks in a day. (Link)
  • A September 2018 Forbes article details some of the issues that Feat Socks has dealt with over the years such as the owners spending habits and some employees using the corporate card for personal expenses. (Link)
  • Feat Socks are available for sale on Amazon with a few different designs. 

The Deal From The Episode Plus Post-Show Updates (this will be updated continually):

  • The Deal - Marcus did not invest in Feat Socks, but wanted to test out Parker and Taylor's marketing skills with a concept called Marcus Lemonis Community.
  • Marcus Lemonis Community was featured on this episode and here is the website which features Flex Watches (season 4), Everkin (season 6), Inkkas (season 3), and Ellison Eyewear (season 5) from The Profit.  The About Us section states, "Community is a place for business owners who have appeared on the Profit as well as local entrepreneurs to come together for networking, funding, and access to Marcus Lemonis’ infrastructure. Our goal is to share expertise and resources in a collaborative environment to get even better at what we do best: planning and executing multi-channel campaigns."
  • Things obviously didn't work out and Parker and Taylor are not involved with Marcus Lemonis Community, which is why Feat Socks are not on the website.  Something tells me they will not be silent after seeing the episode, so I will post any updates here if there are any.

*To see how all of the businesses from The Profit are doing, go to the The Profit Updates page, and also Like us on Facebook or Follow Us on Twitter to stay up to date with all things involving The Profit.

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