Australian underwear brand Step One has signed a partnership deal with Surf Life Saving Australia (SLSA).
Step One will launch an SLSA product range as part of the deal, with $5 from each sale donated to SLSA.
The underwear brand will also invest in advertising to promote the partnership and summer safety messaging.
“We have set out to understand the science of underwear, because we believe that a good day starts with good undies,” Step One founder Greg Taylor said.
“We have created technical garments that prevent chafe and ride up, and our lifesavers need and deserve it.”
SLSA CEO Adam Weir welcomed the partnership deal with Step One.
“We are thrilled to be working with Step One to give our surf lifesavers the support they need, from vital training and rescue equipment to chafe-free underwear.”
For FY23, Step One’s overall revenue was $65.2 million, down 9.7% on the prior corresponding period.
The underwear brand expects its revenue to hit between $44 million and $45 million for the first half of FY24, representing a growth of 22% to 25% respectively compared to H1 FY23. This is based on year-to-date trading and includes estimates for December.
Revenue growth was recorded in all three of its core markets - Australia, United Kingdom and the United States - with the US growing the highest, followed by the UK.
Its final H1 FY24 financial result will be announced on February 20, 2024.
"I am delighted to report a strong resurgence in profitable growth, aligning seamlessly with our strategic plan presented in August,” Taylor said.
“The expansion of our customer base in the 1H24, coupled with exceptionally robust performance during the Cyber/Christmas period, reinforces Step One’s market leadership and highlights the indispensable nature of our products."