MeUndies Expands Online Underwear OfferingsMonday, February 25, 2013
MeUndies is hoping that its underwear customers are also the kind who’d buy T-shirts and socks.
The Culver City ecommerce site, which began its life as an underwear-of-the-month club, unveiled a revamped website late last week as well as a new product line.
The company sells men’s and women’s underwear for $16 a piece, which is a price more in line with Calvin Klein than a bulk package from Costco. MeUndies is aiming for the same market for the new merchandise: T-shirts sell for $20 and socks for $8.
Founder Jonathan Shokrian said he didn’t plan to move into products other than undies at the start, but the decision was made as the result of a successful promotion.
“We started doing things where we’d give away a free pair of socks with purchase and had a really great response” he said. “People would ask: When can we get the socks you sent us?”
The socks MeUndies gave away during that promotion were made by For Richer or Poorer, a Long Beach clothing line. The company is now manufacturing its own shirts and Shokrian said it will soon be taking over production of socks.
The company, which came out of the Santa Monica tech incubator Science last year, will also soon be closing its angel investor-led series A fundraising round, which is set to bring in $1 million. Previously, MeUndies raised $500,000.
Shokrian declined to disclose revenue, but said the company makes money on a good month and break-even most others.