Matuse Wetsuits are creating a buzz. Actor Jeremy Piven of Entourage wore a Matuse wetsuit on the cover of Men’s Fitness magazine, and surf mags and eco blogs love that the young company is designing wetsuits from limestone rather than petroleum.
I talked to founding partner John V. Campbell about how the brand got its start, who is involved with the company and how a small wetsuit brand is growing even when wetsuit sales have been slow.
How long ago did you start Matuse?
The three founding partners (my father, John B. Campbell, Matt Larson and myself) got going on some plans in the fall of 2005, but we didn’t launch the first products until September of 2006.
What’s your background in surfing and in business? Why did you start a wetsuit company?
I graduated from Dartmouth in 2003 and returned to San Diego to work for a tech startup chaired by MasterCard’s ex-CEO, Pete Hart. That outfit was involved with ecommerce authentication – not my first or second passion.
While there, I was exposed to everything from sales and marketing to raising money and investor relations, which provided valuable lessons in terms of getting an organization off the ground.
One day while studying for business school, I was online and came across the Yamamoto Corporation in Osaka, Japan. It made Geoprene: a titanium-coated, limestone-based rubber that was not only functionally superior but also more sustainable and kinder to Mother Nature.
(Right: Matuse’s Tumo wetsuit, front view.)
At that time, most surf consumers didn’t know this material existed. After some sleuthing I contacted Yamamoto’s CEO. I also met my business partner – and one of my best friends – Matt Larson at Mitch’s Surf Shop in La Jolla. He still works there as a manager but had previously done independent product design for some of the industry’s better known brands. We were both ready for something new.
At our first meeting we presented Yamamoto with the idea that we would be their “ambassadors of Ichiban.” This resonated with Yamamoto-san, so he green-lighted our path. We got sales rolling by August of 2006.
Of course it didn’t hurt that my father, Matuse Chairman, John B. Campbell, was there to support our startup costs. Since day one, our operation has run out of his law office. To say the least, we wouldn’t have progressed as quickly without him. Looking back, I’m amazed that he trusted us so much.
See Page 2 for more about Matuse, including how it is financed
How big is the brand?
Small but fierce.
How are you financed?
Hustle, bootstrapping and a dedicated group of friends and family backers.
It seems like you have recruited some important and influential San Diego business and action sports executives to your team as well?
We have been able to tie into a lot of into a lot of business leaders for advice like Dave Gatto, John Wilson (both former Reef presidents) and Ernie Hahn (GM of the ipayOne Center at Sports Arena).
We are also lucky that one of the founders works at a surf shop. So we’re able to not only see the customers’ reaction to our products, but to the competitions’ products as well.
How many stores are you in?
That’s tough to say right now because we have trimmed a handful over the past year and added several more. We are probably in about 100 retailers.
(Right: Matuse’s Tumo wetsuit, back view.)
Who are some of your biggest retail partners? I know you are in core shops as well as some boutiques. Can you tell us about that strategy?
In a perfect world, every door sells volume. But we don’t measure our retailers in terms of their size. Rather, we focus on their commitment to quality.
In this regard, Mitch’s in La Jolla and Solana Beach are two “traditional” surf shops that have done custom build-outs with us, have continually stocked the T-shirts and do an unbelievable job of fill-in orders.
When retailers are on it like this, particularly for the wetsuit category, it keeps their customers informed as to new products and which size is best for their body-type. Naturally, Mitch’s has had quite a bit of success with Matuse.
In addition to other Matuse dealers like Wetsand, Town & Country, Hawaiian South Shore and Air & Speed in Montauk, we’re also extremely proud that our products are sold in fashion oriented boutiques like James Perse in Malibu and Jason Bleick’s Ever stores in Montecito and Los Angeles.
Do you sell internationally?
We’re in continental Europe, Canada, Japan, New Zealand, Australia, and distribute through organizations like Surf Hardware who distributes FCS fins and TOMS Distribution – not the shoe brand – in Northern Europe. Surf Hardware just added Kai Otton to the Matuse Team.
See Page 3 for more about Matuse
I know you guys make eco-friendlier suits using limestone in Geoprene rather than petroleum? Can you briefly explain how that works?
When it comes to making a product – any product – the ultimate goal is fulfilling an intended utility. This is particularly true in our category.
For wetsuits, the intended utility is to provide insulation, while also being flexible, durable and comfortable. Limestone rubber in general and Matuse’s Geoprene in particular are much more effective at satisfying all of these requirements than a petroleum-derived neoprene suit.
The main reason why is that Geoprene is 98% water impermeable – because of its unique uniform micro cell structure. The water impermeability offered by standard neoprene suits is 65%-69%. Standard Neoprene wetsuits have a cell structure with irregularly shaped cells and randomly thick and thin cell walls. Simply put, oil-derived suits function more like a kitchen sponge because they absorb so much water.
Conversely, Geoprene suits are roughly the same weight in a dressing room as they are after a two-hour session. They are also lighter, warmer and lasts longer so the customer is less likely to dispose of their suit in eight to 12 months, so they get more value for their money.
When it comes to an “eco-friendly” wetsuit, the best one is the one that customers don’t buy. Therefore, when it comes to consumer products, the goal is to make a functional item that is long lasting.
The suits seem to be on the pricier side compared to other wetsuit companies. Has price deterred any buyers?
Not the buyers who have customers that demand top notch product.
(Editor’s note: Matuse prices range from $549 at the top end for a Tumo 5/4/3 mm fullsuit, $439 for the Hoplite 3/2/2 fullsuit, and $179 for the Hoplite shortsleeve spring suit.)
You now have women’s suits. What’s been the reaction?
The reaction’s been totally positive. They have been selling out everywhere. Everyone wishes we had more inventory.
There has been research the last few years showing wetsuit sales have been slow. Are you guys seeing that or have you managed to grow the last few years?
I’ve read that too, but we’ve grown every year. Obviously, the bumpy economic landscape has presented various challenges for big and small companies alike. I won’t say by how much we have grown but I think word is slowly spreading that Matuse makes a premium suit.
On your website, you offer a few branded tees and hats, as well as artisan wallets and purses. Is apparel and accessories something you would like to expand down the line?
We’re focused on making ichiban (“the best”) suits. However, if there are other opportunities that compliment our “art + function” tagline then we’ll consider them.
Who does your PR? You seem to get a lot of mainstream press as well as endemic press?
It’s all organic – 100%.
Anything else you want to share that you are working on? New technology? More clothes? More products?
Only that we’re always hustling. And, as people know, you can’t knock that.
