.saxxunderwear has a new majority owner and the deep-pocketed investor is poised to help the men’s underwear brand continue on its expansion path.
Wendy Bennison, chief executive officer of Saxx, said: “Creating the iconic BallPark Pouch was the beginning of a new era in men’s underwear, and epitomizes our company’s obsession with comfort and innovation. Since then, we have set the standard in this category and become the leading men’s premium underwear brand in Canada.
She said Saxx has a 16 percent share of the $1.2 billion premium underwear market, “so there’s a lot of runway” to expand. She referred to the company’s customers as “fanatical,” and said Saxx boasts a 93 percent repurchase rate. “We’ve built an incredible foundation, now we’re ready to push forward into our next channel of growth.”
Outside of its home country of Canada, Bennison said the plan is to zero in on the U.S. as the brand’s primary growth vehicle, followed by the U.K., France and Germany, which she called Saxx’s “top three focus countries” in Europe. But she expects the growth to come organically as distribution expands and customers have the opportunity to try the brand. “Hopefully we will create natural demand outside North America.
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