Latest Bombfell News
Oct 9, 2020
Bombfell had generated nearly $100 million in revenues and had more than 1 million members. Golden explained that not only will Bombfell’s algorithms help its owned brands, which also include the Tribal women’s label, but its wholesale customers — Kohl’s, Macy’s, Amazon and others — will also benefit. Golden said Bombfell had operated a “very successful” subscription service with J.C. Penney where personal stylists selected items from the store’s big and tall men’s assortment that were sent to customers who opted into the service. The yearlong relationship “drove industry-leading purchase rates, extraordinary customer loyalty and retention rates, and yielded an average unit selling price at twice the retailer’s average,” he said. Although the relationship ended last year, Golden said the results proved the viability of the technology. “They understand how to drive people through the funnel to purchase more frequently,” he said of the Bombfell team. “Joining the Randa team allows Jason, Sarah and myself to focus on developing technology, data science and tools that drive consumer engagement,” Yoo said. “Randa’s leadership and scope in men’s, women’s and children’s apparel and accessories and deep partnerships across the retail spectrum provides us with the resources, reach and relationships to leverage everything we’ve learned at great scale and speed.” Golden said the acquisition of Bombfell fits into Randa’s strategy of developing “transformative business models” to help it continue to grow. Like nearly every other company in the fashion industry, Randa was severely impacted by the pandemic and was forced to cut costs, furlough workers and institute permanent job cuts. But there were some bright spots, Golden said. The Haggar online business has doubled during the pandemic and the brand — which is the number-one seller of dress pants in North America — is launching loungewear and increasing penetration in its Cool Right casual and performance bottoms. Golden also cited the strong performance of slippers — presumably a comfortable alternative for those working from home — and Randa launched a PPE program, which will generate more than $50 million in revenues for face masks and other related products this season. And while more business-related categories continue to be challenging, “we’re interested to see how fall goes and we’re looking forward to a good 2021,” Golden said. The privately held Randa was founded in 1910 and sells more than 100 million units of men’s accessories a year from 30 brands including Levi’s, Tommy Hilfiger, Columbia Sportswear, Calvin Klein, Cole Haan, Dickies and Kenneth Cole.