Rapidly-Growing Activewear Brand Delivered 46% Global Growth Year-Over-Year
LOS ANGELES, Dec. 29, 2016 /CNW/ -- Fabletics, the innovative activewear brand co-founded by Kate Hudson in 2013, today announced exceptional 2016 performance results, solidifying its position as one of the fastest growing brands in the athleisure market.
Adding to the brand's more than 200% growth over the prior two years since its launch, Fabletics has quickly become one to watch. Its 46% global growth in 2016 is attributed to various factors, including an increase in VIP Memberships, with the brand surpassing its one-million-member mark, and strengthened member loyalty that has resulted in significant growth in repeat shopping behavior. Repeat purchases account for over 75% of the brands' annual revenue, reinforcing the style, quality, value and overall membership benefits that their loyalists enjoy. Fabletics also saw an overwhelmingly positive response to their continuous focus on product evolution, including improved fit, elevated quality and enhanced design, as well as the launch of their Signature collection of timeless essentials and the introduction of new seasonal styles.
Fabletics' continuous retail expansion was also a significant factor in the brand's stellar 2016 performance. With a 300% increase in new stores year-over-year, the brand saw retail growth of 644%. Same store comp sales also continued to grow at a significant rate, increasing 21% in Q4 alone. Leveraging their proprietary digital platform and over one-million-member base, Fabletics strategically targeted retail markets with a large concentration of members, leading to increased sales among brand loyalists. The new stores also broadened the brand's awareness across the country, resulting in an uptick in new memberships near retail locations.
"The outstanding performance of Fabletics in 2016, despite a challenging retail environment and quickly evolving online shopping space, is a testament to the brand's ability to connect meaningfully with women everywhere," said Gregg Throgmartin, President & General Manager of Fabletics. "As a result of our innovative, flexible membership model, Fabletics is in a unique position to offer consumers exactly what they're looking for – a stylish, high quality collection at an attainable price point, and plenty of perks to go with it – and the demand is stronger than ever."
Launched in 2013, Fabletics filled a niche in the market with premium, fashion-forward activewear at a great value. Designed to transition from workout to weekend and everywhere in between, Fabletics features a range of high-performance pieces made for living an active lifestyle, along with high-fashion styles and ultra-cozy loungewear that take you well beyond your workout.
Fabletics is a high-performance lifestyle brand co-founded by Kate Hudson in 2013. In line with its mission to offer high-quality activewear at an accessible price, Fabletics was designed with the modern woman's busy lifestyle in mind; every piece is intended to fit seamlessly into every moment of her day. The brand offers a full selection of apparel and accessories to over one million VIP members across eight countries via its eCommerce website www.fabletics.com and eighteen U.S.-based retail stores.
For general information on Fabletics, please visit http://www.techstyle.com/fabletics
For further information: Alexis Blais, [email protected], (646) 277-1200, http://Fabletics.com