Sakroots looking at new categories for growth

Sakroots is attempting to become a global lifestyle in an attempt to bring their sales figures to double digit growth. Chief executive officer Mark Telucci says the company is aiming for growth of 25 percent to 30 percent, with a focus on international markets including Canada, Indonesia, Korea, the Philippines, Australia, and the Middle East. Over the past two years, the company has seen steady double digit growth, with sales now coming in just under 100 million dollars.

Talucci told WWD that their new product offerings "“focus on the global messages of peace, nature, sustainability, healthiness in terms of taking care of the planet but also taking care of each other — it’s focused toward a younger customer.”

The company has created a full travel collection, stationery paper products, and an outdoor focused footwear collection. They are also focusing on collegiate style offerings, as well as festival accessories. In addition, they are also focusing on tech accessories to appeal to the millennial generation. A wearable tech division is expected to launch in 2016.

Next year, their website is also expected to feature where customers can build their own technology infused accessories. E-commerce sales for the site have grown as well, with handbags accounting for 20 percent of sales.

Talucci also hopes to find Sakroots a minority investor in 2016 in his efforts to help the company continue to grow.