LESS than a year into operations, the founders of CraziiSocks are already looking to expand their product line by July.

University of the West Indies graduates Kirk Buchanan and Aldane Dawkins are now adding pocket squares, neck and bow ties to their line of multi-coloured socks. Concurrently, they also hope to launch the company’s website.

“We are working on making our products more accessible to potential customers across Jamaica, the Caribbean and North America by way of online purchases on our website which is coming soon,” founder and co-Chief Executive Officer Kirk Buchanan told the Jamaica Observer.

“Currently, CraziiSocks is still only available for purchase from me or my business partner. We are trying to make the purchases as seamless as possible for our customers by allowing them to order via Whatsapp, phone or e-mail,” he added.

CraziiSocks, which started in September last year, has recorded growth of roughly 300 per cent over the last eight months after selling only 50 pairs of socks in its first month of operation, according to Buchanan.

“Our competition has definitely increased on the local market, but we have still managed to maintain momentum. Our products are of superior quality, which differentiates us from any competitor,” he added.

The home-based operation sources supplies from a manufacturer in Malaysia.

“Although our products are not manufactured locally, we get the reassurance from our suppliers that all our products are a blend of 80 per cent cotton, 17 per cent nylon and three per cent spandex, which allows for durability and comfort,” Buchanan told the Business Observer.

“There is also quality control where every sock is hand-checked to ensure that they are free from defects. Our products are also packed in weather-resistant boxes to protect them from being damaged during transportation,” he added.

The young entrepreneurs have managed to keep prices at $600 per pair, despite the devaluation of the Jamaican dollar.

The idea of establishing a business was born after the 26-year-old entrepreneurs graduated from UWI. After months of planning and pooling capital of $100,000, they decided to take the business model off the ground.

“Being men of fashion, we analysed the idea of selling fashionable socks that could be worn by business professionals, and we wanted something that would not interfere with the limits of the dress code which exists in corporate society,” the CEO stated.

Currently, Buchanan and Dawkins are full-time employees in corporate Jamaica, but are still keen on having financial independence through their business venture.

“We are satisfied with the performance of CraziiSocks so far. It has superseded our expectations and has motivated us in the process to continue aspiring for greatness,” Buchanan said.

Like many entrepreneurs, Buchanan stated that securing the start-up capital posed a significant challenge. He added that selecting a supplier that is high on quality, low on prices and consistent, has also been difficult.

“One of the major challenges is starting out. Young potential entrepreneurs lack drive and motivation, which is the key to unlocking their potential,” he said.