Why Paire is selling woollen socks in Singapore — and succeeding
Paire co-founders Nathan Yun and Rex Zhang. Source: Channel 10
With their steamy climates, Singapore and Malaysia might not seem the perfect fit for a brand selling cosy thermals, socks, and jumpers.
But Australian apparel startup Paire has found the opposite, with its overseas retail deals contributing to massive growth.
Paire, a finalist in three Smart50 categories for 2024, launched in 2021 with a vision to create the best socks ever.
It has since expanded into a full line of apparel and accessories, built around its unique fabric blends and a pledge to deliver ultimate comfort.
Co-founders Rex Zhang and Nathan Yun say revenue has expanded from $1 million in 2021 to $10 million in 2024, as a growing number of Australians replace their fraying socks and underwear with Paire alternatives.
At the same time, brick-and-mortar retail sites in Singapore and Malaysia are building awareness abroad.
Speaking to SmartCompany, the duo said Paire’s presence at a 2023 trade show intrigued Seager Inc., a Singapore-based retailer and wholesale distribution company.
After striking up distribution deals with Australian brands like KeepCup, July, Orbitkey, and Bellroy, Seager Inc. representatives tried some of Paire’s wares.
“Immediately, they wanted to stock us,” Zhang said.
Why would a retail giant think about stocking a brand that started with woollen fabrics — not traditionally associated with humid climates?
To start, Paire offers products made with merino wool, known worldwide for its lightweight and temperature-regulating properties.
More importantly, the answer lies in where Paire products are sold.
Seager Inc. owns retail chains The Boarding Gate and Planet Traveller, catering to globetrotters living in, or passing through, Singapore and Malaysia.
Paire signed a wholesale deal, making The Boarding Gate and Planet Traveller stores exclusive distributors for some of its most popular items.
“We started with wool products, and always thought colder regions would be the first place we’d expand into,” Zhang said.
“But during the conversation with them, we find out, actually, Singapore and Malaysia has got a lot of travelers, and they need a lot of travel essentials.”
Paire recently launched underwear that fold to the size of a lipstick container, and thermals packable into the size of a foundation set.
These are “all considered the perfect travel products, and that’s why they are super interested in having Paire on board.”
“We shipped our goods around 30 days ago,” Zhang continued.
“They already putting down a second order.”
Paire welcomes the success, but the brand didn’t launch with the intention of specifically catering to travellers, Yun said.
“When we first started Paire, the idea was basically to just launch the best socks ever,” he said.
“It was that simple. When we launched T-shirts and underwear, the goal was the same: we just wanted to launch the best T-shirt and the best underwear.
“It kind of just happened along the way, that when you’re designing something that’s so comfortable, it actually just becomes a very versatile product that you can wear any time of the day, anywhere the world”.
Back at home, Paire is preparing for the launch of its flagship brick-and-mortar shop in Melbourne’s QV shopping centre in November.
It also plans to open a click-and-collect location in South Melbourne.
Paire is still focused on its local and global e-commerce operations, but Yun said its physical sites will build brand recognition offline.
Another brand-building exercise is underway: Zhang and Yun recently filmed for Shark Tank Australia, with their episode slated to air Wednesday.
The brand has also doubled its customer database to around 200,000 people in the past year, with many of them return shoppers.
“Once they tried our product, they seem to stay with Paire,” Zhang said.
For the brand, comfort, quality, and versatility are growing its customer base at home and abroad.
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