Katherine Homuth, a Canadian entrepreneur, embarked on a mission to revolutionize the hosiery industry, driven by the staggering environmental impact of billions of discarded stockings and tights annually. Her quest began with a relentless search for a durable material capable of withstanding the typical wear and tear that relegates most hosiery to landfills. After numerous trials with various fibers, she discovered ultra-high molecular weight polyethylene (UHMWPE), a material renowned for its strength and used in bulletproof vests. Securing this material proved challenging, requiring persistence and a significant financial investment. The initial attempts to manufacture tights with UHMWPE in China ended disastrously, with the fiber proving too robust for conventional machinery.
Undeterred by this setback, Homuth established a research lab in Canada and meticulously experimented with three knitting machines, painstakingly fine-tuning the process to accommodate the unique properties of UHMWPE. This marked the genesis of Sheertex, a company dedicated to creating durable, long-lasting hosiery. Homuth’s commitment to sustainability stemmed from the realization that conventional tights, typically made from petroleum-based nylon and elastene, contribute significantly to environmental waste. While Sheertex tights are not biodegradable, their extended lifespan significantly reduces the frequency of replacement, thereby minimizing waste compared to traditional hosiery.
Sheertex’s initial production costs were high, around $50 per pair, positioning the product as a niche item. However, through vertical integration, encompassing fiber production, yarn creation, and knitting, coupled with increased production volumes and bulk purchasing of raw materials, Homuth dramatically reduced costs. By 2023, production costs had dropped to $12 per pair, with projections to reach $2.50 within two years. This cost reduction enabled Sheertex to offer its products at competitive prices, ranging from $19.99 for basic black sheers at retail partners like H&M to $99 for specialized designs sold directly through Sheertex.
The company’s growth trajectory has been impressive. In 2023, Sheertex’s classic sheer tights became the top-selling tights in the U.S. by dollar value. Revenue reached $45 million in 2023, but a strategic shift from direct-to-consumer sales to partnerships with major retailers like H&M, Costco, and QVC led to a temporary dip in 2024, with projected revenue of $30 million. This strategic shift, while initially impacting revenue, is anticipated to lay the groundwork for significant future growth, with projections exceeding $70 million in 2025. This transition highlights the challenges and complexities of scaling a consumer brand, requiring a balance between maintaining direct customer relationships and leveraging the reach of established retail networks.
Homuth’s ambition extends beyond hosiery, envisioning Sheertex as a leading innovator in sustainable materials, akin to industry giants like DuPont. This vision is supported by significant investments totaling $143 million from prominent investors, including H&M, sustainability-focused venture firm ArcTern Ventures, and Lululemon founder Chip Wilson. These investments, secured at a valuation of $350 million in 2022, underscore the potential of Sheertex’s technology and its alignment with the growing demand for sustainable materials. To meet the increasing demand, Sheertex inaugurated a new 300,000-square-foot factory in Montreal in 2024.
Sheertex’s expansion into new product categories and materials exemplifies its commitment to innovation. The company has introduced fishnet tights, requiring a more complex manufacturing process, and launched a direct-to-consumer label, Sheertex Studio, offering unique designs not available in retail stores. Furthermore, Sheertex has entered the private-label market, collaborating with brands like Steve Madden to offer co-branded tights. These initiatives diversify Sheertex’s product portfolio and demonstrate its ability to adapt its technology to different applications and market segments. The core value proposition remains consistent: durability and longevity, contributing to reduced waste and a more sustainable approach to consumer goods.
Beyond hosiery, Sheertex is developing innovative materials with broader applications. Watertex, a non-toxic water-repellent material, is being targeted for swimwear, offering faster drying times compared to competitors. The company is also developing a non-toxic water-repellent membrane to replace PFAS-based coatings, a significant market opportunity given increasing regulatory scrutiny of PFAS chemicals. This move positions Sheertex to capitalize on the growing demand for eco-friendly alternatives in various industries. Further research is underway to develop Elasta, a recyclable replacement for spandex, demonstrating Sheertex’s ongoing commitment to material innovation and sustainability.
Sheertex’s journey reflects the evolving landscape of consumer products, where sustainability is increasingly paramount. Homuth’s initial frustration with the disposability of hosiery sparked a quest for a more durable and environmentally conscious solution. This led to the development of a groundbreaking technology with the potential to disrupt not only the hosiery industry but also the broader market for sustainable materials. The company’s strategic shift towards retail partnerships, coupled with its ambitious expansion into new product categories and materials, underscores its commitment to scalability and long-term growth. As Sheertex continues to innovate and refine its technology, its impact on the consumer goods industry and the environment is poised to expand significantly.
