October 11, 2017
Is A New Disrupter Emerging In Athletic Wear?
Under Armour revolutionized the athletic apparel market. Could WOLACO be the next big thing in the space? Company execs think so.
An entrepreneurial adventure set on disrupting the $44 billion athleisure market started with a run through New York City.
Terry White was charging the streets of Manhattan, trying to exercise the cares of the day away. And yet, he couldn’t quite achieve the euphoric release. Why? Because he was worried that the apartment key he’d tucked into his sock would fall out – also, because the mobile phone stuffed in his pocket was bouncing around, reminding him of yet another valuable he could lose. It was irksome. It was limiting. It wasn’t right. And, it dawned on White that he was far from the only exerciser perturbed by such problems.
Rather than bemoan and just cope, White decided to do something about it.
As the story goes, he got together for a head-knock with friends at a dark and cramped NYC apartment. There was born the idea for an apparel start-up that would grow into The Way of Life Athletic Company. Known as WOLACO, the business’ value proposition is rooted in an ingenious practicality that solved the dilemma of co-founder White’s run: The company’s high-performance compression gear features slim sweat-proof pockets specifically designed to securely and unobtrusively hold mobile phones, music devices, cash, credit cards, keys and more. WOLACO puts the pockets on compression shorts, tees, full and ¾-length pants, and a hoodie. In addition to the pockets, the gear boasts four-way stretch fabric, advanced moisture-wicking and flat-lock stitching for enhanced strength, flexibility and breathability.
“We make the world's best compression gear. There, we said it, we meant it, and we're here to represent it,” WOLACO states on its website. “By pairing smart design with quality fabrics, and making everything right here in the USA, we've crafted compression gear for every purpose and season.”
It’s a big boast, sure, but WOLACO is serious about backing it up – something White thinks is achievable by catering to everyday exercisers through the problem-solving practicality of the pockets and by providing truly top-notch performance gear that he believes will appeal especially to quality-seeking younger audiences, even if the price is on the higher side. "Our loyal customer base, mostly comprised of millennials, has proven that they are willing to pay an incremental premium on a higher-quality product that is essential to their daily active routine," White told CNBC in an email.
Fueled initially by a Kickstarter campaign that exceeded its goal by approximately 400%, WOLACO has reportedly generated more than $1 million in revenue. Still, White believes that’s only the tip of the iceberg, telling CNBC that the company has an ambitious, online-driven strategy for rapidly spurring exponential growth and gaining market share in a space where Nike, Adidas and Under Armour reign supreme. "We have a 1-to-3-year window to capitalize on an online approach," White told CNBC. "By leveraging social media and online advertising, we can claw at market share.”
For promotional products suppliers and distributors, WOLACO is a company to keep an eye on. The slim, secure pockets the business offers in conjunction with well-made compression gear could bellwether a significant trend in active apparel. Such retail trends influence end-buyer tastes, thereby generating demand from clients in the advertising specialty industry. Getting out in front of the trend puts your company in a position to beat slower-acting competitors and capitalize on fresh sales opportunities.
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