The Smart50 2024 Rising Star Award winner: Paire

Not much can get in the way of a rising star of a business, even a customer base initially dubious about the price of its flagship product (a price tag that’s wholly justified, by the way). 

But that’s the type of challenge fashion company Paire faced in 2020 when founders Nathan Yun and Rex Zhang launched their business, which merged traditional techniques with modern innovations, and came to the marketplace with socks going for $24 per pair.

The socks were made with Supreme CoolBlend, a Merino wool and cotton blend, and worth every cent. But buyers weren’t easily persuaded to hand over their hard-earned cash for such an item, and an innovative marketing approach was required.

What was the innovation? Give them away.

First-time customers got a free pair of socks, and positive messages about the product’s comfort and durability soon went viral. Loyal repeat buyers were created, and Paire was established in the fashion marketplace.

That bold approach was the start of an impressive display of growth by the company, one Yun and Zhang anticipate continuing as Paire expands and refines its product line.    

Already popular in Australia, the Paire pair now have their sights on international markets, leveraging the company’s online presence and forming strategic partnerships to enhance brand visibility and customer acquisition, all the while maintaining its underlying brand values of sustainability and quality.

Paire’s goal is to double its revenue in the next year by focusing on sustainable growth, customer satisfaction and continuous innovation. The aim is to revolutionise the fast-fashion industry with a sustainable approach, offering high-quality products that are environmentally friendly and designed to last.

It’s the kind of take-on-the-world (but on their own terms) attitude that earned Paire the Smart50 Rising Star Award for 2024.

Paire was also placed 13th on the Smart50 list and won the Retail Award.