From Wardrobe Malfunction to £54M Business: The Snag Tights Success Story

Brie Read launched her online hosiery business, Snag, in 2017 following a mortifying wardrobe malfunction. Her tights fell down on a busy street in Edinburgh, prompting her to address a widespread issue with ill-fitting hosiery for all body types.

Using her savings and loans from friends and family, Read aimed to create comfortable, stylish tights that fit diverse figures. This mission has propelled Snag to become an international enterprise with annual sales reaching £54 million. The company recently secured a seven-figure investment from James Caan, known for his role on 'Dragons' Den.'

Read identified a gap in the £15 billion global tights industry, noting that existing products often only accounted for leg length, not body width. "An extra large pair of tights usually had no more room around the hips; it just had longer legs," she explained.

Snag tights are manufactured in Northern Italy with a proprietary yarn and are available in sizes 4 to 36, retailing for as little as £9.49. A pair of Snag tights sells every 10 seconds. The company, based in Oxfordshire, operates six websites across the UK, US, Australia, Canada, Germany, and the EU. It employs 120 people, most of whom work remotely.

The company's commitment to inclusivity, which Read believes makes both commercial and ethical sense, has not been without criticism, particularly regarding advertising that features women outside the typical size 8 model norm. However, this approach has resonated with customers.

Snag's focus on fit has led to significantly lower return rates compared to the industry average. "Online fashion return rates average about 40pc. Our return rate is 2pc," Read stated. Caan called this figure "commercially compelling," noting that high return rates impact profitability and create waste, while designing for a broader customer base expands market opportunities.

During the COVID-19 pandemic, when demand for tights plummeted, Snag launched a "Save Our Snag" campaign on social media. This initiative, which offered a buy-one-get-one-free deal, raised £1.25 million within days, with customers providing crucial support. This success was partly attributed to Read's strong relationship with her social media following, known as 'Snagglers.'

Read believes Caan's expertise will help Snag expand more rapidly, aligning with his business philosophy of observing consumer needs and innovating accordingly.