Online activewear retailer Gymshark has topped The Sunday Times Virgin Fast Track 100 league table, with sales more than trebling between 2013 and 2016.
Gymshark, which was founded in Worchester in 2012, has beaten the likes of restaurant chain Honest Burgers, appliance manufacturer Gtech and hair products supplier Tangle Teezer to the top of the list.
Now in its 20th year, The Sunday Times Virgin Fast Track 100 league table ranks Britain’s 100 private companies with the fastest-growing sales over their latest three years.
Gymshark has used social media to build brand recognition, helping it grow sales of its gym clothing and sports bras by an average of 193% a year to £12.8m in 2016.
Today, the retailer has 53 members of staff, 18 ‘athletic ambassadors’ and 20m followers on social media.
The company’s success is a reflection of the growth of the activewear market as a whole.
Sportswear fashion had a field day in 2016, with a plethora of brands launching stylish gym gear that can be worn as everyday attire.
Coco Bay, Gottex, Parah, Control Body, Triumph and Victoria’s Secret all expanded into activewear last year, and Amazon is expected to follow suit in 2017.
Recent research has shown that health and wellness is regarded by millennials to be the new luxury.
According to Fflur Roberts from Euromonitor, “younger consumers see more value in transformational experiences than material goods […] it’s very much a status thing as well, people want to show that they care about their bodies and self-preservation.”