Cabot Hosiery Mills, located in Northfield, Vermont, overcame its own unique challenge during the recession: a sock crisis. For 30 years, Cabot Hosiery had been a wholesale sock manufacturer providing private label athletic socks to retail chain stores like L.L. Bean, Bass, and Orvis, as well as to many of the big-box retailers. But in 2008, the economic slowdown meant deep cuts in every market, including the athletic socks niche.
However, to its great credit, Cabot was prepared. In the early 2000s, the company had made a survival move that would prove invaluable during the recession.
Rather than staying in the shadow of the private label lane, company CEO Ric Cabot and his team created a high-quality brand of their own, called “Darn Tough Vermont,” which were knit from 100 percent merino wool, Lycra, nylon, and elastic. Cabot says that the cushioning and material make these socks a perfect solution for skiers, snowboarders, bikers, hikers, hunters, runners, and everyone who wants a light, comfortable, warm, sock that wicks away moisture and wears like iron. Want even more from your sock? Okay, Darn Tough Vermont socks also come with a lifetime, money-back guarantee. Cabot says the fan mail has been staggering: “People say they've tried good socks before, but these are at a different level.”
As the world was trying to cut back and save money, third-generation sock man Cabot stuck to a contrarian approach. His opinion was that quality mattered even more in tough times. If you have a limited amount of money to spend on socks (or cars or hotels or what have you) then, by golly, you want them to last. Cabot is proud of his Made in America heritage, saying, “Nobody ever outsourced anything for quality. We stand by everything we make and if a customer is ever dissatisfied, they can find me here at the mill in Northfield, Vermont. Not many companies can say that.”
In tough times, Cabot opted for a flight to quality. According to Mark Cabot (Ric's dad), “We researched the marketplace and found what it needs. There was nobody with a premium performance sock. We focused on a better sock, and it's been extremely successful.” Indeed, Darn Tough Vermont is now the number two selling brand in the outdoor specialty market.