FABLETICS HAS STRONGEST YEAR TO-DATE, WILL OPEN MORE STORES IN 2017
Fabletics, the activewear brand co-founded by Kate Hudson in 2013, has announced exceptional 2016 performance results, solidifying its position as one of the fastest growing brands in the athleisure market.
The brand’s 46 percent 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 percent of the brands’ annual revenue, reinforcing the membership benefits that its 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 percent increase in new stores year-over-year, the brand saw retail growth of 644 percent. Same store comp sales also continued to grow at a significant rate, increasing 21 percent 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 company has also announced that it will open 12 new retail locations in 2017, adding to the 18 existing locations that started opening in the fall of 2015.
“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 and 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.”
Along with its women’s line, Fabletics also encompasses FL2 – the brand’s line of men’s high performance athletic gear and perfected lifestyle basics.
