The Swedish company Happy Socks manufactures and sells underwear, socks, and swimwear. Viktor Tell and Mikael Soderlindh founded the company in 2008, taking on their roles as creative director and CEO, respectively.
The majority share was acquired by Palamon Capital Partners in 2017, with Stefan Fragner appointed CEO. The company’s merchandise is available in over 90 countries, at over 12,000 retail locations, online, as well as more than 100 retail stores.
|Company Full Name||Happy Socks|
|Deals with||Manufactures and sells underwear, socks, and swimwear|
|Official Store on Amazon (affiliate link)||Happy Socks|
|Founders||Viktor Tell and Mikael Soderlindh|
|Happy Socks Net Worth||$81 million (Last Updated 2022)|
Happy Socks Net Worth
The exact net worth of the company is not known yet. However, in 2017, the company was acquired by the private equity firm Palamon Capital Partners for about $81 million.
The company was started by marketing executive Mikael Söderlindh and Graphic designer Viktor Tell in April 2008, who thought colorful socks would make a great product. Production started in a Turkish factory three weeks later.
Initially, the socks were available online for $10. The company’s first year’s revenue was EUR 1 million. In the following year, the company’s revenue doubled. Approximately 50% of the company’s revenue has grown since then.
Retail sales for the company were $106.4 million in 2016. New headquarters were opened by the company in 2017. The Happy House is a six-story building situated in Stockholm.
Over 40 million pairs of socks have been sold by the brand globally. Since 2014, Happy Socks has expanded into producing kids socks and underwear, a sneaker collection, as well as a men’s tailored collection. Additionally, Hysteria, a line made of glitter, nylon, and slinky viscose, was launched by the company at the end of 2017.
Happy Socks operated 100 concept shops by the end of 2018 in places like London, Paris, Barcelona, LA, Tokyo, and Stockholm. After Williamsburg and Soho, Time Square became the brand’s third location in New York City.
A second Happy Socks location opened in Los Angeles in May 2019. In Silver Lake, L.A, the concept store also houses The Rabbit Hole, a creative center where the company’s founders and a small group of team members do their special projects.
A men’s swim trunk line was introduced by Happy Socks in 2018. As part of Happy Socks’ spring 2019 expansion, the company rolled out a line of women’s swimwear, including swim floats, flip flops, beach bags, and towels, featuring the company’s vibrant prints.