In business, they say the best entrepreneurial ideas are ones that solve a problem. This could not be more apparent for CEO of Step One, Greg Taylor (BCom ’05). After an uncomfortable hiking expedition, Greg went on a mission to change the shape of the underwear industry and create breathable, ethical underwear that prevents chafing for all shapes and sizes.
With no previous textile experience, his first step to building Step One involved an eye-opening manufacturing trip to China, which unexpectedly sent Step One Underwear on a meaningful trajectory. Quality was still paramount, but ensuring the product was both ethical and sustainable now sat equally on top of the company’s objectives.
“I walked into this factory to see kids in the in the back working and floor staff struggling in the heat, so it was literally a sweatshop,” Greg says.
“Then I saw the colour dying factory where you could see this stream of purple water going into the river and I was like, this is a disaster!
“If you’re going to manufacture something and put your name to it, you also want to be able to sleep at night.”
Despite financial challenges early on, Greg pushed hard for all of Step One’s manufacturing partners to adhere with stringent labour practices and opted for organically grown viscose made from bamboo fabric due to its lower environmental footprint compared to cotton.
“It’s a fully closed loop. The FSC (Forest Stewardship Council) have this program called COC, standing for Chain of Custody, which means that you’ve got to give them your full supply chain list and they will then audit everyone for compliance – we’ve got three factories that make the product, then they also have sub-suppliers, so we are checking the whole chain,” says Greg.
“We are the first clothing and garment company in Australia to achieve end-to-end FSC certification.”
This commitment to ethical and sustainable practices clearly resonated with customers, as Step One’s initial order of 5,000 pairs sold out within days.
“Brands will say this is ‘ethical’ and that is ‘sustainable’ but what does it actually mean? I think of my own two-year-old boy stuck in a factory not going to school and I’m mortified!” says Greg.
“Our suppliers, and their sub-suppliers, get spot checked three times a year.
“Which took convincing, plus it’s another cost that gets laid on the supply chain.
“I knew by doing this, I was exposing my supply chain and potentially allowing competitors to access that supplier. But if that means there’s one kid that goes through school instead of factory life, then that’s amazing. I think a rising tide lifts all boats.”
The entrepreneur who had seven business ventures up until 2018, living on a mate’s couch with $823 in his bank account ready for one last shot before getting what he called ‘a real job’ can now look back with relief. His shot landed, as Step One Underwear is currently valued at approximately $330 million.
“It’s a very flat structure and the moral of the company is just treat others how you want to be treated and that goes for everyone,” he says.
Greg is no stranger to teamwork, having represented Australia three times in the under-23 World Rowing Championships Men’s 8 category. During this period, he juggled rigorous fulltime training – comprising of 14 sessions per week – with a part-time job and full-time studies.
“I’d walk into the lecture theatre straight after rowing for three hours that morning,” Greg says.
“My lecturer would say, ‘All right, Greg, before you fall asleep, you need to look at pages 13, 15 and 20 for the exam!’ which was in jest but genuinely wanting to see me succeed.
“He was so supportive of what I was doing and knew I wasn’t out partying or anything. What I got from Flinders during the time when I was rowing was amazing. There was a lot of trust that they had in me, which I fully respected, and obviously that goes both ways.”
In recent years, Step One has expanded its philanthropic efforts, initially by donating free pairs to charities and individuals’ fundraising for worthy causes. During the 2019 Bush Fires, they not only donated more than 20,000 pairs to the fire fighters but worked with the logistics factory to hand deliver them to more than 30 stations across NSW.
“As a kid, I worked out that you could go and collect cans at the local footy,” Greg says.
“I then discovered that I could pay other kids half the price of a can to help me collect them.
“I had three or four kids working for me at one point, so I could sit there and sort the cans out ready for the depot – I was like eight at the time!
“So I think I’ve always had that entrepreneurial spirit, you’re either born with it or you’re not!”
Clearly, as Step One Underwear continues to grow globally, with one of the UK’s largest retailers John Lewis now stocking some of the range online and sales Down Under continue to boom, Greg has still got that spirit burning.
Greg Taylor was awarded a 2024 Distinguished Alumni Award for his distinguished leadership and commitment to creating a sustainable, ethical business and supporting entrepreneurs.