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Socks by subscription: the tech guy who wants to revolutionise South African fashion Socks by subscription: the tech guy who wants to revolutionise South African fashion
(7 months later)
"You're off your rocker." That was the response Nic Haralambous got when he tried to find a manufacturer for his designer sock business. And on the surface, they were right. Haralambous, 28, is a South African tech entrepreneur who has just sold his latest company, Motribe, to instant messaging giant Mxit for an undisclosed sum. But until recently, he knew nothing about the fashion industry. And besides, manufacturers said, no-one will pay R99 (£8) for a pair of coloured socks."You're off your rocker." That was the response Nic Haralambous got when he tried to find a manufacturer for his designer sock business. And on the surface, they were right. Haralambous, 28, is a South African tech entrepreneur who has just sold his latest company, Motribe, to instant messaging giant Mxit for an undisclosed sum. But until recently, he knew nothing about the fashion industry. And besides, manufacturers said, no-one will pay R99 (£8) for a pair of coloured socks.
But Haralambous is persistent. He finally found a manufacturer who would make him some samples. He put photos of the socks online. A month later, NicSocks had sold over 1,000 pairs, not just in South Africa, but to customers as far afield as the US and France. The company sells limited-edition socks with colourful geometric designs, either as one-off buys, or by subscription – those who sign up get two pairs every two months. The socks are made from bamboo, because Haralambous wants his socks be environmentally friendly and entirely made from local materials.But Haralambous is persistent. He finally found a manufacturer who would make him some samples. He put photos of the socks online. A month later, NicSocks had sold over 1,000 pairs, not just in South Africa, but to customers as far afield as the US and France. The company sells limited-edition socks with colourful geometric designs, either as one-off buys, or by subscription – those who sign up get two pairs every two months. The socks are made from bamboo, because Haralambous wants his socks be environmentally friendly and entirely made from local materials.
Haralambous had long since discovered that his penchant for wearing colourful socks was a good conversation-starter at investment meetings. "I've been wearing a brand called Happysocks for three years. When I was pitching to investors it became my thing: the sock guy. A little business trick I used to get people to remember me."Haralambous had long since discovered that his penchant for wearing colourful socks was a good conversation-starter at investment meetings. "I've been wearing a brand called Happysocks for three years. When I was pitching to investors it became my thing: the sock guy. A little business trick I used to get people to remember me."
And so, while Haralambous was sitting at home waiting for the Motribe deal to be finalised, he started thinking about how expensive designer socks were – brands such as Paul Smith and Ben Sherman retail in South Africa for close to R600 (£50). And he thought: I can do better.And so, while Haralambous was sitting at home waiting for the Motribe deal to be finalised, he started thinking about how expensive designer socks were – brands such as Paul Smith and Ben Sherman retail in South Africa for close to R600 (£50). And he thought: I can do better.
"On my website, I call my designs foundations," says Haralambous. "I believe socks are the foundation of the style that men choose to wear." There's a rich history of colourful socks in fashion, going all the way back to 18th-century dandies, whose delicate, embroidered socks were a crucial part of their outfits. "Socks, like underwear, are an essential part of a man's wardrobe," says Max Berlinger, the contributing style editor for Esquire.com. "They serve an internal purpose, one that isn't seen by many. I've built whole outfits around a pop of colour through a sock, but I don't know if many other men can say – or would admit – the same. But, in the same way that wearing a particular sweater can be pleasing, I think that a lot of men can derive a certain pleasure from wearing a particular item of clothing, like a brash pair of socks, even if that piece isn't in the spotlight.""On my website, I call my designs foundations," says Haralambous. "I believe socks are the foundation of the style that men choose to wear." There's a rich history of colourful socks in fashion, going all the way back to 18th-century dandies, whose delicate, embroidered socks were a crucial part of their outfits. "Socks, like underwear, are an essential part of a man's wardrobe," says Max Berlinger, the contributing style editor for Esquire.com. "They serve an internal purpose, one that isn't seen by many. I've built whole outfits around a pop of colour through a sock, but I don't know if many other men can say – or would admit – the same. But, in the same way that wearing a particular sweater can be pleasing, I think that a lot of men can derive a certain pleasure from wearing a particular item of clothing, like a brash pair of socks, even if that piece isn't in the spotlight."
Designer socks-by-subscription is not a new idea, companies such as Blacksocks, Sock Rush and many others have been doing it for years. Blacksocks' Sockscription programme has been running since 1999. And neither is Haralambous' transition from tech to socks unique: the tech startup scene, particularly in the US, has been a great market for designer sock merchants, according to New York Times journalists Claire Cain Miller and Nick Bilton.Designer socks-by-subscription is not a new idea, companies such as Blacksocks, Sock Rush and many others have been doing it for years. Blacksocks' Sockscription programme has been running since 1999. And neither is Haralambous' transition from tech to socks unique: the tech startup scene, particularly in the US, has been a great market for designer sock merchants, according to New York Times journalists Claire Cain Miller and Nick Bilton.
But Haralambous's company is the first subscription sock company in Africa. "In South Africa, and a lot of other countries, I don't think these companies are as well known as they are in Europe," he says. "I'm doing it locally, which there is a big need for here. The subscription model isn't new, but it isn't very well expanded either, and the socks by subscription that are locally produced and environmentally friendly is quite unique in itself."But Haralambous's company is the first subscription sock company in Africa. "In South Africa, and a lot of other countries, I don't think these companies are as well known as they are in Europe," he says. "I'm doing it locally, which there is a big need for here. The subscription model isn't new, but it isn't very well expanded either, and the socks by subscription that are locally produced and environmentally friendly is quite unique in itself."
Subscription services such as NicSocks, says Berlinger, are enjoying their time in the sun because they make it easier for men to shop. But not everyone is keen. Robyn Cooke, whose Style Guide Cape Town is regarded as one of the country's top fashion blogs, says that socks-by-subscription has limited appeal. "From a strictly fashion perspective, the socks-by-subscription model is this season's Wine of the Month club. Some people will like it for a while, but are pretty unlikely to fall in love for ever."Subscription services such as NicSocks, says Berlinger, are enjoying their time in the sun because they make it easier for men to shop. But not everyone is keen. Robyn Cooke, whose Style Guide Cape Town is regarded as one of the country's top fashion blogs, says that socks-by-subscription has limited appeal. "From a strictly fashion perspective, the socks-by-subscription model is this season's Wine of the Month club. Some people will like it for a while, but are pretty unlikely to fall in love for ever."
Haralambous says: "I think the fashion industry in South Africa is very used to doing things in a specific way, with specific people turning out specific designs. They are complacent, and they need to be disrupted. The online space is going to disrupt the fashion industry in South Africa, even if it takes five years. I'm getting in early enough so I'm the leading disrupter."Haralambous says: "I think the fashion industry in South Africa is very used to doing things in a specific way, with specific people turning out specific designs. They are complacent, and they need to be disrupted. The online space is going to disrupt the fashion industry in South Africa, even if it takes five years. I'm getting in early enough so I'm the leading disrupter."
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