Truewerk, a company that develops and distributes high-performance clothes for blue-collar workers and was launched in 2015, will use the funds acquired from internal investors to expand production and inventory.
They’re a fast-growing direct-to-consumer workwear firm, and keeping up with inventory needs is one of their toughest issues.
Truewerk obtains the majority of its business in the third and fourth quarters of the year, according to Ciciora, because consumers are looking for warm but durable workwear when the weather cools. The freshly obtained funds will assist the company in maintaining inventories as seasonal sales climb.
Many apparel firms with seasonality have a large increase of inventory that needs to be filled for fall delivery, especially near the end of the year. With an annual growth rate of more than doubling, there’s just more demand for inventory dollars than they can sustain through organic expansion.
Truewerk’s revenue is expanding two to three times annually, according to Ciciora, but he wouldn’t say how much.
Truewerk’s best-selling item is the T2 Werk Pant, which is part of a collection of warm-weather pants, according to Ciciora. The T2 Werk Pant is $79. It’s designed for fall, winter, and spring. The T1 Werk Pant, which is also for summer, is $79.
Truewerk’s best-selling item is the T2 Werk Pant, which is part of a collection of warm-weather pants, according to Ciciora. The T2 Werk Pant is $79. It’s designed for fall, winter, and spring. The T1 Werk Pant, which is also for summer, is $79.
The T3 Werk Pant is a winter-specific design that costs $99. Truewerk did not experience a drop in demand during the epidemic, according to Ciciora, because the consumers they serve are critical workers. Truewerk creates apparel for tradespeople such as electricians and plumbers.
Truewerk caters to a market of so-called “critical service providers.” Our community consists of a group of individuals whose society relies on some to enable civilised living.
The company now employs 20 people, with ambitions to expand as the company expands. Jim Trombly, who formerly worked for Patagonia and Canada Goose, was hired as director of product management earlier this year.
