More than three decades after launching the Davenport underwear brand, and 18 years after co-founding 2XU, veteran retailer and entrepreneur Clyde Davenport is back with a new venture built around compression leggings. But rather than targeting elite athletes, TheRY (pronounced the-R-Y) is aimed at pregnant and postpartum women. The name is an abbreviation of “the reason why”, which reflects the fact that all of the brand’s products must have a clear reason for being. “At 2XU, we h
, we had this saying, ‘The world doesn’t need another run short.’ There has to be something different about it, something unique. TheRY is a similar concept,” Davenport told Inside Retail.
“The products we make have a physiological benefit that other brands don’t have. If we couldn’t come up with that positioning, we wouldn’t have done it because why waste your time?”
TheRY launched online in April 2022 with a range of graduated compression socks and leggings that have been medically tested and approved by the Therapeutic Goods Administration (TGA) to improve circulation, as well as breastfeeding-friendly bamboo tops.
The products were developed by material science expert Cindy Liu, who previously worked with Davenport at 2XU and is TheRY’s chief executive and research officer. Davenport is the brand’s chairman.
So far, TheRY has spread mostly through word-of-mouth, but now the co-founders are now looking to leverage medical endorsements and increase their distribution through specialty retailers to raise awareness and reach new customers.
“We’re getting a good response today, but we believe the tipping point for us will be when we can find the best ways to educate the consumer,” Davenport said.
Gap in the market
The idea for TheRY came to Davenport a few years ago, after witnessing his daughter’s struggle to find comfortable, effective and stylish compression leggings to wear while pregnant.
“Some tights were nice looking and comfortable. Other tights provided physiological benefits with the graduated compression, but they were uncomfortable. And then there was a third kind of tights – fortunately, I don’t think there’s too many of them around – that had graduated compression the wrong way around, so instead of helping blood flow away from the ankles, it actually pushes it down, and that’s not great at all,” Davenport said.
He reached out to Liu, who quickly recognised the opportunity to take their learnings from 2XU to the maternity wear market.
“We knew we could get the proprietary fabrics, and we knew we could construct a compression garment that would help blood flow, give comfort and look good,” Davenport said.
It took the pair longer than expected to launch, thanks to Covid-19, which slowed down the product development and sampling process. But they are making up for it now.
They recently opened their e-commerce site to customers in the US, and clinched a distribution deal with The Memo, an upmarket maternity boutique in Melbourne. They are also in the process of developing a new product – underwear that provides pelvic support.
“At the moment we have a very tight product range, but ultimately, we’d like to offer other products that have a reason why,” Davenport said.
Honest endorsements
The biggest hurdle Davenport and Liu face as they look to grow TheRY is around educating potential customers about the difference between their maternity leggings, which cost $180, and those from other brands, which cost anywhere from $30-60.
“They might be comfortable, but they’re not going to help you physiologically,” said Davenport.
“Our maternity tights are the best on the planet. They took two years of research and development, went through multiple testings and are made on medical-grade machines.”
In photos, however, they look like just another pair of black leggings. So, how to communicate this to customers?
“One of the main things we’re looking at is endorsements from obstetricians and midwives, because they understand the science behind what we’re trying to do,” Davenport said.
According to research cited by TheRY, 80 per cent of women experience circulation issues during pregnancy, and in some cases, this can lead to swollen limbs, fluid retention and the development of varicose veins.
“We can’t put our hand on our heart and say this is going to be the panacea, but it can potentially help,” he said.
Davenport is cautious about promoting the brand through social media and influencer marketing, which are the go-to channels for many new brands today.
“We don’t really want to pay someone to speak about our product. These days it’s almost cash for comment,” he said.
Back in the game
Davenport sold his remaining shares in 2XU to L Catterton in December 2018. At the time, he imagined that he would spend his time travelling and potentially advising some businesses behind the scenes.
“Then Covid hit, and I couldn’t travel,” he said. “You can only play so many rounds of golf. The more I played, the worse I got.”
So when the opportunity to launch TheRY presented itself, it was too good to pass up.
“Entrepreneurs never stop looking around and seeking opportunities. I can’t sit still,” he said. “I could never retire on a beach. It’s not my nature.”