NEW YORK (TheStreet) --Tommy John is a men's undergarment manufacturer located in NYC. Launched in 2008, Tommy John has grown 2.5 times year-over-year since 2014 and is expected to hit $100 million in sales by 2018.
Providing Tommy John with an edge in the men's undergarment business is that it is the first company in the world to patent an undershirt. However, the shirts will cost consumers $40 and above.
Tommy John CEO Tom Patterson appeared on Wednesday morning's "Squawk Box" on CNBC to discuss the patented undershirt and the men's undergarment business.
"I think competition is great. The men's undergarment category is a $4.1 billion category in the U.S. alone. Men's undershirts is a $1.3 billion category," Patterson said.
The patent is what has allowed Tommy John to succeed in the space. Patterson explained how to license a shirt.
"It's a utility patent, it combines the length and the multi-directional stretch fabric, when you put it on it will stay in place," he noted.
Patterson added, however, that the patent isn't the only thing Tommy John has prided itself on.
"Tommy John is continuing to innovate, focusing on delivering the consumer a better product. At the end of the day, I think patents do certain things to protect your business, but the biggest thing you can do to protect is not stop moving. Give the consumer something that they can't find," he explained.
Regarding a public offering or potential sale of the company, Patterson says the company has gotten numerous inquiries, and the response from Tommy John is it is focused on growing.
"We'll never be the cheapest but, we think dollar for dollar we do provide more value than anything you find on the market," Patterson said.