Smart Wool

Part
01
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Part
01

Company Overview - Smart Wool

Smart Wool was founded in 1994 by Peter and Patty Duke and was completely owned by RAF Industries in 2003. The company was acquired by Timberland in 2005. The current parent organization of the company is VF Corporation.

Company Origin

How they grew

Locations

Headquarters

Products

Current Agency of Record

Competitors

Revenue and other financials

  • The annual revenue of the company is estimated to be $26.3 Million.
  • The revenue for the VF Corporation's outdoor segment in 2019 is approximately $4,649 million and this includes brands like The North Face, Timberland (excluding Timberland PRO), Icebreaker, Smart Wool and Altra.

Research Strategy

We started by analyzing the Smart Wool's official website in the quest to find information regarding products, headquarters, locations, number of stores, and company origins. In order to find information on how they grew, competitors, and currency agency of record we combed trusted business newspapers, the company's annual reports, databases like crunchbase. For the current agency of record had analyzed the business newspapers and have found it in bicycle retailer website and have updated it accordingly. From these resources, it was found that Smart Wool was founded in 1994 and had its headquarters in Steamboat Springs, Colorado between 1994 and 2017 before shifting to Metro Denver area.
Part
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Part
02

Biography - Jennifer McLaren

Jennifer McLaren is the president and CEO of Smartwool for more than 8 years and as an outdoor enthusiast, she has been advocating for building outdoor communities since day one. She wanted to be one of the movement makers, together with Smartwool, to protect outdoor community. McLaren was recently featured by Coalition Snow, a women-owned company that builds gear and outdoor communities, that showcase skills and expand experiences as "Decade of the Woman" who works in an office with mountain view.

Education

  • Jennifer McLaren graduated with a degree in business administration and management in 1997 at the University of New Hampshire Peter T. Paul College of Business and Economics.

Family Life

  • Jennifer McLaren is married with sons. The family moved to Steamboat Springs, Colorado when McLaren was still Smartwool’s Chief Financial Officer.

Hobbies and Interests

  • Jennifer McLaren likes outdoor activities such as traveling and bike riding.
  • According to McLaren's LinkedIn profile, she was interested in influencers like Simon Sinek, an optimist and author, and Arianna Huffington, the founder and CEO of Thrive Global.
  • Jennifer McLaren is an outdoor enthusiast. According to her interview last 2018, she has been advocating for building outdoor communities since day one and she wanted to be one of the movement makers, together with Smartwool, in order to protect outdoors and encourage other outdoor enthusiasts.

Social Causes/Charity Works

  • She is a volunteer for The Nature Conservancy, a charity organization aiming to help conserve the lands and waters on which they believed where all life depends. McLaren has been part of the organization since 2018 and one of its focus is the conservation of land, water, climate, ocean, and the cities.
  • McLaren also acts as Future Leader Academy mentor for Outdoor Industry Association. Since 2017, she helps future outdoor industry leaders prepare, unite, and amplify their voices to seek personal and professional development opportunities.
  • She has been part of Camber Outdoors since 2018 aiming to gain equity in the outdoors whether its from boardroom to back country.

Social Media Accounts

  • The social media account of Jennifer McLaren in LinkedIn can be accessed here.

Work Experiences

  • After graduating, Jennifer McLaren became a Senior Auditor for Arthur Andersen, a New York-based company, from 1997 to 2000.
  • In June 2000, she worked for Event Zero as Finance Manager. She worked for the company for 10 months.
  • Softbank Holdings, Inc hired McLaren as a Senior Financial Analyst for capital portfolio accounts. She worked for the company from 2001 to 2003.
  • McLaren started as a Global Financial Planning & Analysis Analyst for Timberland for more than 2 years before she was promoted to NA Consumer Direct Controller & Portfolio Brands. After 3 years, she was promoted as Chief Financial Officer for North America where she performs strategic planning, financial planning, and management and acquisition integration for more than 3 years before transferring to Smartwool.
  • Before being the President and CEO of Smartwool, she worked as Chief Financial Officer of the company for almost 7 years.

Current Responsibilities as President and CEO of Smartwool

  • As a President and CEO of Smart Wool, McLaren's responsibilities include supervising and planning strategic direction for Smartwool's global brand.
  • Jennifer McLaren directs the company's mission and vision to become the best purpose-driven brand.
  • She also aims to promote leadership and empower the team to push towards a purposeful brand.

News and Articles

  • Jennifer McLaren was recently featured by Coalition Snow, a women-owned company that builds gear and outdoor communities that showcase skills and expand experiences. McLaren was recognized as "Decade of the Woman" who works in an office with a mountain view.
  • Jennifer McLaren was featured in CEO Outdoor Equity Pledge at Outdoor Retailer, one of the largest trade shows, where over 50 CEOs gather together to pledge in dedication and commitment to create outdoor industry-focused equity, inclusions, and diversity. McLaren was one of the pledge signatories during the event.

Research Strategy:

We were unable to provide any boards Jennifer McLaren may serve on. However, we were able to provide information such as her education, family life, hobbies and interests, social causes or charities she supports, LinkedIn account, prior work experiences, current responsibilities at Smartwool, and two recent news articles about her for the past 12 months.

To be able to find the requested information, we looked for direct data from pre-compiled information. We were thinking that since Jennifer McLaren was recently appointed as the President and CEO of Smartwool, there must have been news, articles, or magazine features written about her professional biography. We tried looking from Forbes, CNBC, Business Wire, The New York Times, etc. Through our search, we only found most of her personal information and limited professional information. However, we were not able to find the information about any boards McLaren may serve on.

Secondly, we tried to locate the information boards Jennifer McLaren may serve on from the company website of Smartwool and her past companies like Arthur Andersen, Event Zero, Softbank Holdings, Inc., and Timberland. We looked for the investors' relation tab on the company websites and news/media publication of the companies. In this way, we can be able to determine if there was news posted by the company about McLaren's membership to boards committee. Through our search, we were unable to locate the requested information from the above-mentioned companies' websites. We noticed that among these websites, Arthur Andersen and Event Zero were private companies while Jennifer McLaren was not a member of the boards at Softbank Holdings, Inc. and Timberland.

Third, we tried to triangulate the requested information by looking for Jennifer McLaren's served boards of the committee through the parent company of Smartwool, Arthur Andersen, Event Zero, Softbank Holdings, Inc., and Timberland. Through our deep dive with Jennifer McLaren's biography, we found out that Smartwool and Timberland were acquired by VF Corporation in 2011. Thus, we also did search for parent companies of Arthur Andersen, Event Zero, and Softbank Holdings, Inc., expecting that through this we can easily find the data. In our initial search, we found out that Arthur Andersen, Event Zero, and Softbank Holdings, Inc. have no parent companies so we proceeded with the parent company of Smartwool and Timberland, VF Corporation. The parent company's board of directors, governance and executive leadership team might give information about any boards McLean served on but we found no Jennifer McLaren in VF Corporation's board of directors as well.

While we did not find the information about any boards Jennifer McLaren may serve on, we assumed that the reason why it is not available is that McLaren has not served any board at all or the requested information is not publicly available.
Part
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Part
03

Biography -  Scott Bowers, Vice President of Sales and Marketing

Scott Bowers attended Crescenta Valley High School and currently lives in Edwards, Colorado. Scott bowers supports SOS Outreach, a national youth development organization founded in partnership with Vail Resorts 25 years ago to empower 4,000+ youth each year in education and life.

Personal Information

Education

Family Life

  • He is from Edwards, Colorado and lives in Edwards, Colorado.

Hobbies And Interests

  • Scott Bowers says he looks forward to a new year Ride to OR organized by Smartwool, where employees, partners, and friends ride "400 miles from our headquarters in Steamboat Springs, CO, to Park City, UT, for the Outdoor Retailer (OR) trade show".
  • "He has a passion for the mountains and all the activities they offer, especially cycling, skiing, hiking and fly-fishing,"

Social Causes Or Charities He Supports

  • Scott bowers supports SOS Outreach, a national youth development organization founded in partnership with Vail Resorts 25 years ago to empower 4,000+ youth each year in education and life — "through an intensifying curriculum comprised of caring adult mentors, outdoor adventures, and long-term life skills development."

Social Media Accounts

  • He has a Facebook account, but it is mostly inactive. The last post was in 2017.
  • He has a linked in account.


Professional Information

Prior Work Experience,

  • Partner at PROJECT-ASPEN from Jul 2016 – Apr 2017 in Edwards & Aspen, Colorado.
  • Chief Marketing Officer at Wheel Pros from Dec 2014 – Jun 2016 in Denver, CO & Cerritos, CA.
  • Chief Brand Officer at Factory Design Labs from Apr 2013 – Nov 2014.
  • SVP, CMO, Global Marketing, Brand Development, Web/E-Commerce at Oakleys May 1988 – Apr 2013 in Foothill Ranch, CA.
  • Associate Sales Representative for PK Sales Group from Apr 1987 – May 1988 at New England.
  • Store Manager for Sport Stalker/Christy Sports from Oct 1981 – Apr 1987 at Steamboat Springs CO and Beaver Creek/Vail CO.
  • Retail Sales for Sport Chalet from Jan 1978 – Nov 1980 in La Canada, CA.

Current Responsibilities At Smart Wool

Any Boards He May Serve On

  • Scott Bowers was previously on the board of Black Diamond Equipment and Surf Industry Manufacturers Association. He is currently on the board as chairman of Camp Royal, a faith-based summer training camp. He assumed the role of chairman of the board in 2016.

2-3 Recent News Articles About Him

  • N/A

Research Strategy:

We were unable to find any information regarding Scott bowers family life, and there were no recent news articles about him.
To search for recent news articles about Scott bowers, we carried out a Media search looking for articles or interviews about him but found only old articles about him from 2017. When he was appointed VP or promoted at a previous place of employment and several recent articles where he was mentioned, but it was only a comment he made about a Smartwool partnership.
Secondly, we conducted a press search of Smartwool recent news articles about Smartwool that concentrated on Scott Bowers but didn't find any. Instead, we found Smartwool`s current sponsorships and partnerships.
Thirdly we searched the social media pages of both Smartwool and Scott bowers to see if there are links to any news article concerning him but didn't find any.

To find information on his family life, we searched for his social media pages. We found his Linkedin and Facebook. His Linkedin only showed his professional background, and his Facebook only showed his education. There was no Instagram or Twitter page for Scott Bowers, the VP of marketing.
Secondly, we searched the Smartwool website for information on its managerial team, but their website didn't carry any such information. It only had information about its products and activities.
Thirdly, we searched for a wife, partner or child of Scott Bowers the VP of marketing Smartwool and didn't find any rather we found other Bowers not related to him.
Part
04
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Part
04

Biography -  Denise Anderson, Marketing Director

Denise Anderson is a dynamic, dedicated and self-motivated marketing professional with distinguished experience in both corporate and entrepreneurial environments. She did her bachelor's degree in Marketing at the University of Colorado Boulder.

EDUCATION

  • Denise Anderson did her bachelor's degree in Marketing at the University of Colorado Boulder, Leeds School of Business.

FAMILY LIFE

  • She has kept her family life personal. In her Facebook account, she has posted a photo of her, her husband and two children.

HOBBIES AND INTERESTS

  • Denise Anderson hobbies include mountain biking, road cycling, running and skiing.
  • In her Facebook account, she has posted photos of her biking and skiing. This suggests she is an outdoor person and loves these sports.

SOCIALMEDIA ACCOUNTS

PRIOR WORK EXPERIENCE

CURRENT RESPONSIBILITIES

BOARDS


RESEARCH STRATEGY.

To find this information, we looked at Denise Anderson's Linkedin account, Facebook and other relevant news articles that could shed more light on her personal and professional background. Most of her professional and personal information were found on her LinkedIn account. We, however, couldn't find any recent news articles about her or social causes/charities she supports.
Part
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Part
05

Media Scan - Smart Wool

Smartwool has been in the media largely due to their generous activities for communities, their new 3D Knit technology, and the company's new contracts and hires. Below are some of the recent news and media articles that chronicle the company's latest activities.

Smartwool Hires A Sustainability Director

Smartwool Begins Use Of "3D-Knit"

  • The link to this article can be accessed here.
  • Smartwool begins making 3D Knit baselayer due to its seamless construction.
  • Smartwool harnessed the method to create body-mapped garments. The garments come with separate zones for ventilation and movement.

Smartwool To Move From Steamboat Springs To Denver

  • The link to this article can be accessed here.
  • Smartwool plans to vacate its building in Steamboat Springs in the second quarter of 2020.
  • VF Corp, Smartwool's parent company, intends to move the company to Denver.

Smartwool And Rob Krar Team Up With Strava

  • The link to this article can be accessed here.
  • Smartwool and professional ultra runner Rob Krar worked with Strava to create Smartwool X Rob Krar PhD® endurance socks.
  • These are their most technical running socks yet to keep runners comfortable from one mile to 100 miles.

Smartwool Is Expected To Continue On Its Growth Trajectory

  • The link to this article can be accessed here.
  • VF Corp has great plans for Smartwool. The parent company expects it to have a CAGR of between 10% and 11% through the year 2024.
  • The company has grown between 20% and 30% in apparel moving beyond socks.

Smartwool Partners With Alterra Mountain Company

  • The link to this article can be accessed here.
  • Early in January 2019, Alterra Mountain Company partnered with Smartwool to make Smartwool the official Merino wool base layer, underwear, and sock supplier of all Alterra destinations.
  • The collaboration gives Smartwool more exposure and advertising.

Smartwool Partners With Friends Of The Lake District For Their 2019 Socktober Campaign

Smartwool, Lenny’s Shoe & Apparel, And Darn Tough Vermont Team Up

  • The link to this article can be accessed here.
  • Lenny’s Shoe & Apparel, Darn Tough Vermont, and Smartwool collaborated for another year to donate $13,000 in socks to local non-profit societies.
  • The non-profits primarily care for the homeless population in the community.

New Zealand Merino Company Signs New Contracts With Smartwool

  • The link to this article can be accessed here.
  • New Zealand Merino company stated that they signed new contracts with Smartwool.
  • The prices of these contracts had not been achieved before.

Smartwool To Donate Part Of Their Profits For Products Inspired By The Hardrock Hundred Endurance Run

  • The link to this article can be accessed here.
  • Smartwool, a sponsor of the ultramarathon pledged to donate part of their profits to the community affected by the cancellation of the endurance race.
  • This includes a special edition Hardrock shirt with a special design going for $30.
  • All profits from these shirts will go towards the fund.
Part
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Part
06

Smart Wool - Competitors

Seven true competitors to Smartwool are Minus33, Woolx, Ridge Merino, Icebreaker, Mons Royale, Voormi, and Woolpower.

Smartwool

  • Established in 1994, the company offers performance-based merino wool apparel for the outdoor environment.
  • The brand offers a full-range of merino wool clothing range, including base layers, hoodies, underwear, socks, bottoms, shirts, among others.
  • Smartwool takes significant efforts toward sustainability and ethical sourcing. The company claims to source its wool from some of the happiest and healthiest sheep on the planet.
  • VF Corporation is the parent company of Smartwool, the company recently acquired Icebreaker to enhance its market presence in the merino wool-based performance wear segment.
  • VF Corporation claims to hold nearly 90% of the market share with both brands comprising nearly $325 million in the merino wool business.

Minus33

  • Website Link
  • Founded in 2002, Minus33 emerged as a merino wool clothing brand for outdoor activities. The company offers apparel and accessories for hiking, hunting, fishing, skiing, among others.
  • Product collection includes base layers, shirts, hoodies, socks, underwear, pants, headwear, and accessories for men, women, and kids.
  • The company supports various philanthropy initiatives like HikeSafe, USTSA, USA LUGE.

Woolx

Ridge Merino

Icebreaker

Mons Royale

Voormi

Woolpower

  • Website Link
  • The Swedish company was established in 1969. Woolpower develops outdoor clothing made from merino wool, offering tough, warm, odor-resistant, and moisture-repelling properties.
  • Product collection includes base layers, shirts, hoodies, socks, underwear, pants, headwear, and accessories for men, women, and kids.
  • The company practices high manufacturing ethics and sources 100% mulesing-free merino wool.

Research Strategy

We started our research by studying the product offerings, target audience, value proposition, and brand ethics for Smartwool. We researched through the official sources of information like brand website, parent-company website, annual reports, press releases, media publications, among others.

Next, we researched multiple product review sites to identify the leading players operating in the merino wool apparel segment. We examined each of the merino wool clothing brands to match their product offering, value proposition, brand positioning, and sustainability efforts with that of Smartwool.

We considered brands that offered pure merino wool and blended fiber clothing range for men and women in the international market. Additionally, we selected the brand that featured unique benefits of merino wool products such as enhanced durability, comfort, warmth, odor-resistance, UV protection, breathability, and lightness. Further, we shortlisted the companies that offered a full-range of merino wool products like base layers, bottoms, jackets, headwear, socks, hoodies, among others. Finally, we selected the brands that offered performance wear clothing range for outdoor activities like hiking, skiing, hunting, fishing, climbing, etc.
Part
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Part
07

Smart Wool - Competitive Landscape - Part 1

Minus33 is a merino wool clothing company that sells its items in the US and Canada. Smart Wool sells its apparel in the US, Italy, Germany, Israel, Hong Kong, and Australia.

Minus 33

Competitive advantage

  • Merino wool clothes are biodegradable and safe for the environment. They are 100% natural.
  • Minus33 provides superior quality products at an affordable price. The company gives one year warranty and produces quality clothes over quantity.

Strengths

  • The clothes have a long life expectancy, between 2-4 years with regular and frequent use. Merino wool is different from synthetic garments; with special care, the wool can last longer. Some customers have Minus33 clothes for more than ten years.
  • The company uses many technologies, such as small micron measurements, to give the best quality.
  • Merino wool is flame retardant, itch-free, and super soft. The wool also gives UV protection up to 50+ UPF.
  • This company supports the US Telemark Ski Team and provides socks to the US Luge National Teams as the official sock supplier.

Weakness

  • Minus33 doesn't have stores under its brand name and sells its products through third-party retailers.
  • When customers need to find a specific product, they need to call the retailers because they only carry seasonal products and inventory.

Revenue

Countries


Smart Wool

Competitive Advantage

  • This company claims that customers feel like nothing is attached while wearing Smart Wool because of its comfort.
  • Smart Wool sells outdoor clothes with a touch of art, unlike its competitors.
  • It provides merino wool, which is softer than any other wool.
  • It claims to be the first outdoor clothing company that revolutionizes merino wool ski socks.

Strengths

  • This company makes merino wool as a performance fabric. It can be thermoregulating (cool when it's hot outside and warm when it's cold).
  • The wool can keep the feet dry and warm longer than synthetic garment, or odor neutralizing.
  • Smart Wool makes the clothing based on many technologies such as Indestructawool, Merino 101, and Wool Sock Technology.
  • It offers a 100% satisfaction guarantee. Customers can get their money back if they aren't happy with Smart Wool within two years of purchasing.

Weakness

  • This company doesn't have independent stores and sells its products through third-party retailers.
  • The menu on its website does not have clothes' finder, only socks finder, even though it sells shirts and leggings.

Revenue

Countries

Part
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Part
08

Smart Wool - Competitive Landscape - Part 2

Woolx generates revenues worth about $10.6 million annually. Ridge Merino operates as a direct-to-consumer business, which means it only sells online.

WOOLX

Competitive Advantage

  • Woolx offers its customers a lifetime guarantee that its socks are the softest and most durable they've ever worn; otherwise, they extend a full money-back guarantee.
  • The company has been able to build customer satisfaction through its free returns and exchanges scheme; thereby, giving it a competitive edge over its competitors.
  • Wools used for making Woolx garments are certified non-mulsed "and only comes from farms that absolutely do not practice mulsing." The wools are also Woolmark certified.

Strengths

  • Woolx extends free shipping every day on its products, and this helps create customer loyalty.
  • The company has been in the market for around 60 years, with a focus on selling high-quality clothing, and this enables them to create authenticity, excellent value, and remarkable experiences for customers.
  • Woolx is also able to offer 24 hours, 7 days, 365 days a year robust customer support to its customers.

Weaknesses

  • Woolx does not have the technology to eliminate the "natural wool smell that comes from the lanolin in all sheep's wools." Therefore, "occasionally some yarn will come from sheep with a naturally stronger odor, and this is usually more pronounced when the garment is wet."

Annual Revenue

Geographic Footprint

RIDGE MERINO

Competitive Advantage

  • Ridge Merino is committed to environmental sustainability efforts with a focus on targeting eco-conscious consumers. Because of this, the company is a "1% For the Planet​" member company, contributing "at least one percent of its annual sales to environmental nonprofits."
  • Merino appeared on Outside Magazine's 2015 list of "the 5 Best Outdoor Gear Brands." This ranking gives Merino priority with shoppers who conduct online research before buying, thus a competitive edge among other competitors.
  • Ridge Merino develops the "highest quality premium Merino wool base layers, mid layers and accessories that perform as well in daily life as they do in the most rigorous outdoor conditions."

Strengths

  • Merino only sells online, and this means they have lower overhead costs and no additional mark-up, so their products cost less than high-end clothing competitors.
  • Although the company only sells online, it offers customers who pick their orders at the headquarters a refund of whatever shipping charges incurred. This sales tactic helps them build customer loyalty.

Weaknesses

  • Ridge Merino is a direct-to-consumer business, which indicates they only sell online; therefore, customers lack physical contact with the products in a brick and motor setting.
  • The company's website permits online ordering; however, they do not have live customer support chat on the site for those who wish to make online orders.

Annual Revenue

  • Founded in 2014, the company is privately-held and does not disclose its financials to the public. However, experts estimate the annual revenue to be roughly $1 million.

Geographic Footprint

  • Ridge Merino is based "on the East Side of California's Sierra Nevada, in Mammoth Lakes, California, United States," and sells its products online in the United States.
Part
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Part
09

Smart Wool - Competitive Landscape - Part 3

The fourth and fifth competitors of Smart Wool are Icebreaker and Mons Royale. Icebreaker is the pioneer leader in the ethical and sustainable production of natural performance apparel. Mons Royale, a privately held clothing manufacturing company offers the most comprehensive layering system of high-performance merino apparel. Below is the competitive landscape which includes the competitive advantage, strengths, weaknesses, revenue, and footprint of both companies.

Icebreaker


Competitive Advantage
  • Icebreaker is a fully transparent company; they took the initiative to go transparent with the inauguration of its first of a kind Transparency Report in 2018. The company publicly disclosed details about its corporate internal structure in the report. Transparency enables Icebreaker to share how they operate and track the progress of the company; the company received an Outdoor Industry Award for its first transparency report.
  • Icebreaker possesses a unique selling point that breaks away from the traditional use of synthetic fabrics layer by placing on emphasis that plastic does not belong on the skin. They invented a sustainable alternative: Merino wool. Merino is five times finer than a human hair which makes it "lighter, more breathable and better insulating".

Strengths
  • Icebreaker maintains a direct relationship with every level of the supply chain which consists of 81 suppliers across 63 factories. This provided better efficiency and optimization throughout the entire operation process which ultimately increases revenue.

Weaknesses
  • Icebreaker still continues to use micro-fibers in the production of its apparels although the entire brand is based on sustainability and reducing micro-fiber falls under the company's sustainable development plan.

Revenue
  • Icebreaker generated $125 million in 2018, a 12% growth from the previous year.

Footprint
  • Icebreaker has 2,579 wholesale accounts, eCommerce in 23 countries, and 45 icebreaker stores across 45 countries. The company’s primary markets are Europe, North America, New Zealand, and Australia and their network connect more than 64,000 workers in 17 countries.

Mons Royale

Competitive Advantage
  • Mons Royale has a global fanbase that includes the "world’s best action sports athletes, Olympians and adventurers" worldwide.
  • Mons Royale invests heavily in research and development. The company consistently introduces modern style technology-led apparel into the market. They recently introduced a line of apparel made with fibers used in the base layers. The material is lighter, dries faster and is more durable than conventional merino products.
  • Mons Royal is sold in over 600 retail stores globally with offices in Innsbruck, Vancouver, and Wanaka.

Strengths
  • Mons Royale’s overall marketing strategy "is edgy, sexy and youthful, with fun imagery". This attracts millennials, of which 69% buy clothes for reasons beyond basic necessity.
  • Mons Royale has a superior management system that is the single source of inventory, order and customer data which enables "accurate, data-based decision-making". This allows Mons Royale to benefit from "real-time global financial consolidation and multi-currency support for its growing global business".

Weaknesses
  • Mons Royale does not spend enough resources on social media marketing. In an interview, co-founder of the company, Hamish Acland stated that investment in social media “would have been when there were less brands active in the space and the return on investment was exponentially far greater.” A strategic social media strategy would have allowed Mons Royale to gain better insights from the early adopter fan base.

Revenue
  • Mons Royale has an estimated revenue of $6.4 million dollars.

Footprint
  • Mons Royale can be found in over 600 retail stores globally with offices in Innsbruck, Vancouver, and Wanaka.

Research Strategy

We began our research by searching the company’s website for an investor relations or annual report of the company. Information for Icebreaker was extracted 2018 Transparent Report and 2018 Annual Report of VP Corporation. Since Mon Royale is a privately-held company, there was no public report available. We then conducted a public search to find news articles that would mention the revenue. The only available publicly available revenue data was found on Owler, although we also searched company databases such as Hoovers, Crunchbase, Pitchbook, and Craft. The competitive advantage, strength, and weakness for Mons Royale were determined by thoroughly reviewing the website and deriving precompiled information from credible news articles.



Part
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Part
10

Smart Wool - Competitive Landscape - Part 4

Voormi is an outdoor apparel company that has 18 dealer locations in the US. Woolpower is a wool clothing and apparel brand that has 21 retail locations in the US.

Voormi

Competitive Advantage

  • The company creates strong, breathable, moisture and odor resistant, and comfortable premium outdoor apparel mainly from natural wool.
  • Voormi products are made in the US by people who understand the Voormi lifestyle. The company believes in small scale production since it can be operated with a small carbon footprint and ensures the use of every functional piece of fabric available.

Strengths

Weaknesses

  • The company has only two stores under its brand name, and all the other locations are third party retailers. The company has a physical presence in only six states in the US.

Revenue

Locations

  • Voormi has 18 dealer locations in the US, which includes two in Alaska, two in Montana, two in Wyoming, one in Utah, one in Louisiana, and 10 in Colorado.


Woolpower

Competitive Advantage

  • The company uses 100% mulesing-free Merino wool in its apparel products to maintain ethical and environmentally friendly standards.
  • The production process of Woolpower is quality controlled and certified under ISO 9001:2000, and each garment is stamped with the maker’s mark to ensure it meets the highest craftsmanship standard.

Strengths

  • The material used by Woolpower has been tested in various environments with rewarding results and has received the ISO 14001 certification.
  • The low impact environment process of the company has made them receive many certifications to strengthen the brand.
  • The products have a good reputation among their customers for having good quality.

Weaknesses

  • The company doesn't have stores under its brand name and sells its products through other retailers. The company has a physical presence in only fifteen states in the US.

Revenue

Locations

  • Woolpower has 21 retail locations in the US, which includes two in Alaska, two in California, one in Florida, one in Illinois, one in Massachusetts, one in Mississippi, one in New Hampshire, two in New York, three in Ohio, two in Oregon, one in South Carolina, one in Utah, one in Vermont, one in Washington, and one in Wisconsin.
Sources
Sources

From Part 01
Quotes
  • "• Revenues increased 15 percent to a record $10.9 billion from $9.5 billion in 2011. On a constant dollar basis, full year revenues increased 17 percent. The Timberland Company (consisting of the Timberland® and SmartWool® brands) accounted for 9 percentage points, or $907 million, of the revenue growth in 2012. "
Quotes
  • "We announced on August 13, 2018 the relocation of our global headquarters to the metro Denver area, which will also serve as the home for The North Face ®, JanSport ®, Smartwool®, Altra ® and Eagle Creek® brands (the “Relocating Brands”) and VF’s Global Innovation Center for technical fabrics and Digital Lab (the “Innovation Center and Lab”)"
Quotes
  • "Showing 5013 Stores. Zoom in, enter a location above, or click on a marker for more detail."
From Part 06
Quotes
  • "Last year, Smartwool grew 8 percent to about $155 million in revenue, but VF has even bigger aspirations for the sock, apparel and accessories brand—10 percent to 11 percent CAGR through Fiscal 2024."
  • "And when we looked at the market today on where natural performance apparel sits, Icebreaker and Smartwool make up 90 percent of that market."
  • "Icebreaker, whose global headquarters is in New Zealand and North America operation is based in Vancouver, BC, posted annual revenue of $175 million, up 12 percent on a pro forma basis, in Fiscal 2019."
  • "Collectively, these two brands comprise about $325 million worth of Merino-based business. That’s new business for us. That’s a new growth trajectory and it’s a new textile that we can think about using across our enterprise."