KALAMAZOO, Mich.—Can socks make the world a better place? Western Michigan University alumnus Ryan Preisner thinks so.
Through a social enterprise model and partnership with 20 Liters, Preisner and his business partners started boldSOCKS, a sock company that helps provide 100 days of clean water to someone in Rwanda, Africa, with each pair sold.
They started the company to fill a gap in the online market. At the time, boldSOCKS.com was one of very few places to buy high-quality, name brand socks that were distinctively bold, fun and uniquely expressive.
After a couple of years retailing other brands, they launched their own brands, boldSOCKS and Statement Sockwear. As they entered the manufacturing world, it was important to them to maintain integrity when it came to quality and ethical production.
WMU alumnus and boldSOCKS owner and CEO Ryan Preisner
"Fashion manufacturers routinely cut corners, which leads to human and environmental consequences," says Preisner, owner and chief executive officer of boldSOCKS. "Rather than plead ignorance, we elected to proactively and intentionally partner with a manufacturer in Colombia that uses a vertically integrated supply chain, so that we can have visibility to all aspects of the process."
It's a philosophy that seems to be working. What started out as a fun hobby has transformed into a thriving business. BoldSOCKS now boasts eight full-time employees, a warehouse and brick-and-mortar store in Grand Rapids, 300-plus original designs and nearly $2 million in annual sales.
A 2008 Haworth College of Business graduate, Preisner credits WMU with giving him the hands-on, real-world experience he needed to succeed.
"The food marketing program gave me a unique opportunity to learn through activities using real companies’ data, products and problems," he says. "Not only did this set me up well for my first job out of college, but these same skills have been applied in running my own company."
It's a job that Preisner admits isn't always easy.
"Being an entrepreneur is viewed as a glamorous thing in our culture," he says. "For me, it has often been an all-consuming, up-and-down emotional roller coaster."
The key, he says, is to be passionate about the work.
"Do something that is worth doing and something that makes this world a better place."