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The boot is now on the other foot for profit-for-purpose company Swanky Socks following turbulent 18 months during the pandemic, reaching a record donation of 100,000 socks to the homeless as part of its ongoing charitable program.
The Sydney-based group's business model involves giving back while still remaining focused on building a successful and globally recognised brand.
Once a modest start-up, Swanky Socks has since grown to become an international fashion player, collaborating with thousands of local and multinational companies like Microsoft, Amazon and KFC.
Alongside its retail operations, Swanky Socks manufactures for many large fashion brands and partners frequently with the corporate market, producing custom brand socks as a quality promotional marketing product.
In September alone the company witnessed growth of 400 per cent, as directors Tom Lawrence and Dorry Kordahi move to establish new offices in Europe and the UK.
According to acting policy and research director at Philanthropy Australia Krystian Seibert, many of the smaller charitable organisations across the country had taken a hit in the wake of the pandemic. Additionally, the charity efforts of many larger companies had been stymied.
Nonetheless, Kordahi said Swanky Socks remained committed to the charitable arm of the business over the past 18 months.
“During the pandemic, charitable organisations struggled to raise funds through the usual fundraising channels like gala dinners and corporate events. Collaborations with our brand create a platform for charities to raise funds through the sale of our socks,” Kordahi said.
“Our purpose beyond commerce as a company is the ability to give back through business and help others as much as we can. As we continue to expand, we’re excited to continue this growth with our give-back program.”
The company has raised over $230,000 for charities over the last two years, primarily through the sale of socks via its e-commerce platform swankysocks.com. The company now dedicates a large part of its donations to Givit.org.
“Thanks to Swanky Socks, people accessing these services will also receive a beautiful, warm pair of socks which creates a sense of dignity and belonging for the recipient,” GIVIT ACT Engagement Officer Kristi Clark said.
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