Fabletics announces 2016 growth
Kate Hudson’s clothing endeavor, Fabletics, has grown significantly over the course of the year. The athletic company announced a 200% growth in the last two years, making it one of the fastest-growing companies in the athleisure market.
Gregg Throgmartin, president and general manager of Fabletics told press, "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. 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."
The label put a huge focus on strengthening the brand loyalty over 2016, which paid off significantly. Repeat purchases made up over 75% of the brand’s 2016 revenue. Fabletics’ VIP member program, a subscription-based monthly delivery service, reached 1 million members earlier in the year.
With the opening of the brand’s first 18 brick-and-mortar locations, Fabletics saw a retail growth of 644% in the last year. It is already poised to continue its growth in the new year, announcing this week the opening of 12 new boutiques across the United States before the fall of 2017.
Fabletics was launched by Kate Hudson in 2013 with the goal of bringing athletic wear to women at an affordable price point. The company, owned by JustFab, now offers athletic wear, swimwear, loungewear, and casual wear. Customers can either purchase items at their leisure or have outfits delivered to their house through the Fabletics subscription service.
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