GearBunch creates multimillion-dollar business after spending only 20 dollars on an ad

Entrepreneurs / 30th May 2017
From 20 dollars for an ad on Facebook to close to 500,000 dollar monthly revenue. GearBunch, one of the fastest growing online companies in activewear, did it. How? By giving the target group a leading role in the development of their products.
 
Like other companies, GearBunch sells activewear in the form of leggings. What makes GearBunch unique is the way they approach potential customers. Founders Luuk (the Netherlands) and Dan (Australia) study the taste, needs and motivations of the customers and, that way, combine sporty clothing with fashion.
 
Luuk explains: “Take a random major fashion brand. Each season, they produce a collection which is launched in the hope the products will be bought. This works because their fanbase is huge. We turn this around by creating items for very specific target groups, for example pit bull owners or deep-sea divers. We learn about their interests and their experience. As a result, our items are fully tailored to the customer’s wishes, that’s what makes us unique!”
 
GearBunch only works with the best designers and fabrics. All items are handmade in the US and printed on demand. As a result, there’s no need to keep stock and GearBunch can focus completely on custom-made goods and marketing.
 
Much of the current success is due to Facebook’s targeted advertising options. ‘From bikers with a Harley to people with Irish origins in the U.S. Facebook is the only platform on which you can base an ad on the users’ interests,’ according to the founders.
 
How it started
 
As Internet entrepreneurs, Luuk and Dan found each other through a Facebook group, after which they developed the concept. The duo only needed one $20,00 Facebook ad to sell 43 leggings within 24 hours – www.gearbunch.com had been born. “We’ve grown from two people into a team of 30 freelance fashion designers, printers and other specialists, across the globe,” Dan says.
 
The future
 
Gearbunch’s goals are ambitious. “We’re aiming for an eight-digit annual revenue in 2017,” Luuk says. “If you aim for two million, you’ll either achieve it or surpass it slightly. If you aim for 10 million, you may not get there, but you’re striving for it. Shoot for the moon, even if you miss, you’ll land amongst the stars.”

You May Also Like

Cheung Kong Graduate School of Business and ESMT Berlin Launch Program for Unicorns in Germany

MBA Blog / 15th May 2024

CKGSB and ESMT Berlin recently signed an agreement to launch the Global Unicorn Program in Germany. In an era that calls for global responsibility and a commitment to sustainable growth,...

Cambridge-based deep tech start-up Theia Insights raises $6.5M to bring foundational AI to the global investment community

Entrepreneurs / 13th May 2024

Theia Insights, a UK based deep tech start-up launched by former Amazon Alexa scientist and solo entrepreneur Dr. Ye Tian, has raised $6.5M. In another example of US venture capital...