Society Brands, an ecommerce aggregator built for and by founders, is moving full-speed ahead with rapid expansion of its initial six acquired brands. The exponential growth is due in large part to its strategy of leveraging its internal team of true experts in the respective fields of ecommerce, branding, marketing, omni-channel distribution and product development.
“Society Brands had a momentous 2022 focused on raising capital, scaling our internal team, expanding operations and developing a proprietary tech platform that allowed us to acquire six brands and significantly grow their sales by the end of the year,” said Michael Sirpilla, CEO of Society Brands. “Every brand in our portfolio has been touched by the senior leadership team, providing invaluable knowledge and know-how to make an immediate impact. With a robust growth strategy that includes operational improvements, product expansion and re-branding efforts, Society Brands has driven significant success across our portfolio.”
Since its first institutional capital raise of $205M in March 2022, Society Brands has:
- Raised over $13M of additional equity to further help capitalize the business for acquisitions and strategic initiatives.
- Acquired and integrated six brands into the ‘society’ both financially and operationally, deploying expertise and resources across disciplines to increase sales and profitability.
- Secured more than $1.5M in annualized synergistic cost savings through the strategic streamlining of operations, representing nine percent of product cost on the impacted brands.
- Strategically grown to 65 employees and contractors across key areas including supply chain management, engineering, product development, marketing, M&A, finance, and technology.
- Developed several new processes to improve workflow, drive efficiencies and lower costs, including a supplier qualification process, engineering change process, product audit, AQL processes, and a standardized operational playbook.
- Leveraged its proprietary and scalable tech operating platform, “EVO”, to drive growth and execution across all disciplines.
- Introduced new product innovations and expanded product roadmaps for all brands, ensuring on-time and on-budget product launches for brands based on both consumer insights and market demand.
- Initiated various levels of branding efforts for all brands to increase visibility and drive revenue, ranging from simple packaging and collateral updates to full rebranding including new logos and websites.
- After going through a complete visual rebrand in early September prior to its iPhone 14 product launch, Power Theory experienced a significant increase in search rankings visibility, website visits, average time on the site, and sales conversion rate. The team provided real-time marketing support including targeted ad campaigns at launch, which has traditionally not been possible, analyzing metrics to make data-driven decisions, quickly make relevant updates on the website, and push targeted content to engage with customers.
- As a result of Society Brands’ seamless integration of acquired brands into its advanced operational system, product development expertise and cohesive marketing strategy, companies have enjoyed an uptick in sales and shown tremendous promise for continued future growth.
- One of Society’s early acquisitions realized 90%+ EBITDA growth in less than eight months.
“Each month, we vet hundreds of companies that have taken notice of our business model and in many cases proactively reached out to learn how they could join the ‘society’,” continued Sirpilla. “With a robust acquisition pipeline and a proven method of optimizing acquired brands, we are well-positioned to have record-breaking results in 2023. We will continue our rapid M&A growth by doing on average one to two acquisitions per month as we execute our long term goals for the company.”
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