Thread Wallets debuted several new products at Surf Expo in January 2026. And from what we saw, retailers seem to be embracing the new offerings judging by the brand’s busy booth.
The Utah-based accessories company, known for its slim wallets, keychains, and lanyards, is projecting revenues of approximately $19 million this year, up from around $16 million in 2025, according to co-founder and CEO Colby Bauer and Chief Brand Officer Trevor Reese, who spoke with SESO at Surf Expo.
The growth story is being driven by an expansion beyond the brand’s wallet roots. Over the past two years, Thread has launched more than 20 new products as Bauer challenged his team to test new categories and identify where the brand has genuine authority.
Thread Wallets at Surf Expo January 2026. Photo by SESO.
Thread Bags a New Focus
The biggest area of exploration has been bags, which is a more crowded space than the accessories niche where Thread built its name.
“With bags, it’s more competitive. We had to ask ourselves, what authority does Thread have in this space? What’s our niche?” Bauer said. “We’re keeping the DNA of expression mixed with function. That’s always been the one-two punch for Thread.”
The brand has found traction with its utility tote bags, which Bauer describes as a work/school/everyday carry piece. The Penny Shoulder Bag and a Slouchy Shoulder Bag are also resonating with Thread’s core demographic, reflecting a broader consumer shift away from traditional crossbody styles.
A new water bottle sling, the Aqua Sling, which is like a water bottle cross body bag that holds a water bottle, also has enough room for your phone.
Thread Wallet Line Gets an Upgrade
Alongside the bag expansion, Thread is evolving its wallet lineup to meet a maturing customer base. The brand turned 11 this year, and Bauer is aware that the teenagers who discovered Thread a decade ago are now young professionals.
“The girls and guys that bought in at 16 have now graduated from college and are entering their professional careers,” he said. In response, Thread has introduced a genuine leather zip wallet targeting a more elevated aesthetic.
Thread Outdoor Channel Expansion
Thread is also making a push into outdoor retail. A new adventure-focused line, anchored by an adventure crossbody bag and mountain-inspired designs, is being positioned for outdoor accounts.
Bauer said that several national accounts in the outdoor channel have picked up the line.
Responsible Revenue Growth — and No Outside Investors
With approximately 25–30 employees at its headquarters and a total headcount north of 80 when including Thread retail locations, Thread remains entirely bootstrapped. Bauer is deliberate about that.
“We don’t want to grow too fast. We want to grow responsibly because we don’t have funding, we don’t have investors. We want to hold it tight so we can own our own destiny,” he said. “There’s a narrative that you don’t go broke, you grow broke.”
The caution is grounded in recent experience. Bauer acknowledged that the past two years have been difficult online, listing macroeconomic headwinds and social media algorithm changes as shared challenges across the industry.
Wholesale, particularly international accounts, has provided stability during that period. Now, with online performance showing signs of recovery, Bauer sees the brand positioned for a more balanced growth trajectory heading into 2026 and beyond.
