Careismatic Brands Acquires Nike Veteran-Founded Bala Footwear
Medical apparel company Careismatic Brands, Inc. announced on Monday that it acquired Bala footwear, a shoe brand that targets nurses.
With the deal, Bala joins Careismatic’s portfolio of medical apparel brands, which includes Cherokee Uniforms, Dickies Medical and Medelita, among others.
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“This acquisition marks a milestone in our journey to provide exceptional products that meet the needs of healthcare providers around the world,” said CEO of Careismatic Brands Girisha Chandraraj. “The entire Careismatic team is excited to introduce Bala footwear to our customers and deliver on our shared vision of improving the lives of people who care for others.”
Former Nike employees Brian Lockard and John Eberle founded Bala Footwear in 2020. The brand offers comfortable, athletic footwear for healthcare professionals. The brand’s first shoe, the Twelves, hit the market in January 2021, its name a callout to the 12-hour shifts nurses typically work. The shoes currently come in six colorways and sell for $150 a pair.
“Our mission at Bala Footwear is to make healthcare professionals feel like the most respected professionals in the world,” said Lockard in a statement. “Since launching our startup in 2020 we’ve served thousands of healthcare professionals by seeking partnerships with other organizations that share that mission. We are thrilled to join the Careismatic portfolio because of their almost 30-year history of service to the healthcare community and broad resources that will enable the Bala brand to expand how we deliver on our core mission.”
As of August, Bala had raised nearly $2.28 million in venture funding and launched with $1 million in presale. In its first year, Bala said it earned $4 million in revenue, and that sales have doubled month-over-month since September 2021.
In June 2021, the brand partnered with the Pensole Lewis College of Business and Design, which was founded by former Nike and Jordan Brand designer Dr. D’Wayne Edwards. Through the partnership, the Pensole team will bolster the brand’s existing product and help it expand.
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