Shark Tank alum Bombas taps former Under Armour exec as CEO as it looks beyond digital roots

Core Insights - Bombas founder David Heath is stepping down as CEO, with Jason LaRose taking over to lead the company through its next growth phase [1][2] - The company has experienced significant revenue growth, with a 22% increase in the current fiscal year and over $2 billion in lifetime sales [3] - Bombas aims to expand its wholesale presence from approximately 7% of sales to between 10% and 20% to sustain growth [4][5] Company Strategy - The footwear segment is the fastest-growing area, with expected revenue growth of over 70% this year, while sock sales have increased by 17% year-over-year [3] - Bombas is exploring physical store options and expanding its assortment with current partners, avoiding Amazon as a wholesale channel [5][6] - The company emphasizes the importance of storytelling and brand integrity in its expansion strategy, focusing on partnerships that align with its values [8][9] Industry Context - The shift from a direct-to-consumer model to wholesale is seen as necessary for sustainable growth, as many digitally native brands face challenges in profitability [7] - Brands that have successfully transitioned to wholesale have recognized the need for strategic partnerships to maintain brand integrity while scaling [8][10]