Albert Vaisman (Entrepreneur)

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Albert Vaisman is an entrepreneur based out of Toronto, Canada.[5] He co-founded Soxy.com in 2014, an online retailer which designs bold socks while living in Los Angeles, California. [1]


He dropped out of university to pursue entrepreneurship and has been able to sell over 1,000,000 pairs of socks without any outside funding.[1]

He’s been featured in Forbes, GQ, and Business Insider.[4] [2] [7] He also enjoys public speaking on the topic of entrepreneurship.[9]

Today, he is the managing partner of Growth Commerce, a Toronto based company which develops, grows, and invests in direct-to-consumer brands.[10]

History

Albert Vaisman attended York University and dropped out in his first year to pursue entrepreneurship.[11]

In 2013, he and his brother Boris Vaisman launched an online menswear store. After seeing some traction, they evaluated the data and saw a pattern of orders containing bold socks. [2]

After speaking to customers, they noticed an industry trend amongst men at work who wear suits and use bold socks as a way to express themselves. Albert decided to change the business model to focus on building the world’s best destination for unique, bold socks.[2]

Six months into the business, they generated $50,000 in revenue which was enough proof of concept to begin searching for suppliers to make their own socks.[2]

They began producing their first ever designs in Seoul, South Korea and used a third party warehouse to store the socks and fulfill the orders. Their first production forced them to fly to Los Angeles and pack all the socks by hand, a week long process.[2]

Early on Albert focused on personalized customer service to build the business and create rapport with customers. He also leveraged Instagram by incentivizing customers to share their sock photos which he would use to repost on their account.[2]

Albert Vaisman packing his first ever production of socks in Los Angeles.

Business Career

Albert originally built Soxy to become a lifestyle business that would allow him the opportunity to travel, explore, and live remotely.[2]

In Summer 2016 they brought all operations in-house into a 1500 square foot office and warehouse. Two years later they moved into a 5000 square foot office and warehouse located in Toronto, Canada. [+]

In 2017 Albert launched a kickstarter campaign for a line of high quality, bold dress shoes.

The campaign had an initial goal of $15,000 but reached $201,133 in funding.[6]

Today the company has 12 employees and does $5-10M a year in revenue.[12]
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