TAYLOR SHUPE
Founder, CEO
FutureStitch
San Clemente
Co-founder of San Clemente sock apparel company standout Stance Inc., now looking to make San Clemente’s sock industry a matching set. Heads up manufacturer whose mission, Shupe says, is to manufacture more ethically—for both the worker and the planet.
THEN: Started FutureStitch in 2017, and has put in about $9 million of his own money into his newest venture, which counts rapper-turned business mogul Kanye “Ye” West (with whom Shupe has other business interests) and skateboarder-turned entrepreneur Rob Dyrdek as strategic investors and partners.
NOW: Shupe expects over $50 million in sales this year, in part by increasing the company’s domestic manufacturing presence via a number of locations. This year saw opening of a 9,000-square-foot plant about 20 miles from the company’s headquarters, in Oceanside. A larger plant in Dallas is next on tap.
FUTURE: Company has its largest manufacturing facility in China; a nearly 240,000-square-foot facility near Shanghai that can create up to 50,000 socks per day, or 1.5 million socks every month. The facility, which opened four years ago, has earned acclaim for its environmentally friendly features; FutureStitch is said to be the first U.S.-based manufacturer in China to receive the LEED Platinum certification for its facility. Shupe has larger idea in store for his company in China: he wants FutureStitch to go public on the Shanghai Stock Market, as soon as 2024.
IN THEIR WORDS: The company, which counts Stance as a customer, grew sales 56% last year to $46 million. Besides Stance, FutureStitch makes socks for companies such as Toms, Crocs, and Everlane.
“That’s a testament to this hypothesis of investing in workers, and an environment that fosters workplace happiness,” Shupe said of the company.
RYAN ELLIS
CEO
TravisMathew
Huntington Beach
Surf City apparel company, founded in 2007, got its start by making clothes for the golf course with a West Coast flair, drawing “inspiration from the culture and lifestyle of Southern California’s surf, sand, and sun.” Its popularity has moved well beyond the links.
THEN: When the Huntington Beach-based apparel company was acquired in 2017 by Callaway Golf Co. (NYSE: ELY) in a $125.5 million cash-and-debt deal, the then largely golf-focused brand reported about $61 million in revenue and $7 million of adjusted EBITDA, thanks primarily to sales of men’s polo shirts and hats.
NOW: Company’s Carlsbad-based parent company expects TravisMathew to see revenue closer to $300 million, and adjusted EBITDA of around $50 million, as it offers a far larger base of casual wear products. New additions include a women’s wear line launched in May.
FUTURE: Callaway officials said in April that they see a “clear path” to over $500 million in net sales, and a potential to hit the $1 billion mark, thanks in part to expanding base of retail stores. International expansion includes store at Scotland’s famed St. Andrews golf club.
IN THEIR WORDS: “The brand started in golf, but the idea was always to be more than golf.”
