A specialist bicycle wheel store has emerged as the fastest-growing ecommerce brand in the US, with a staggering 13x (1,357%) growth in revenue over the past twelve months, according to a new league table.
Colorado-based HUNT Bike Wheels has grown its sales by more than 1,300% as the brand’s patented wheel technology inspired a surge of cycling enthusiasts to flock to its online store.
Researchers tracked growth rates for hundreds of companies across the United States to find the fastest growing ecommerce brands of the last year.
Almost half of the top ten fastest growing brands in the US for 2022 are female led. This includes apparel retailer, J. Brooks Boutique, who ranked 2nd on the list.
The company was founded in 2017 by Jessica Brooks after being gifted a sewing machine a year prior and teaching herself how to sew via YouTube tutorials.
With astounding success and 170% growth year-over-year, the company also took the crown as the fastest growing fashion brand in the United States.
“We’re ecstatic to have made the list!”, said Jessica Brooks, Founder and CEO of J. Brooks Boutique. “Running a lean operation, having a strong pulse on what our customers are looking for, and how to show up for them, have contributed to our success. Using social media platforms and email marketing to connect with our customers help add personality and a personal touch to our brand that operates solely online.”
Rounding out the top three was another female-lead independent retailer, Caden Lane, founded by Katy Mimari, who came fourth with 141% growth, heading up the baby & toddler section. The brands were tracked during a challenging and changeable period for US retail businesses, who have had to adapt to pandemic-fuelled e-commerce demand alongside the changing nature of online buying and emergence of new selling channels.
HUNT Bike Wheels and J. Brooks Boutique attributed their significant growth to successfully leveraging strong e-commerce platforms, inventory planning tools and backend technology to strengthen their retail operations, the service they provide as well as their relationships with customers.
"We are delighted to be named as the fastest growing online company in the US - it really is a fantastic achievement to top Brightpearl’s Lighting 50 list,” said Samuel Johnson, US Market Manager at HUNT Bike Wheels.
“Hunt Bike Wheels evolved out of a passion for bicycles and the idea to create a more inclusive and uplifting space within cycling, and we are excited to develop products that change the way people think about cycling, built on a foundation of innovation and outstanding customer service. We can't wait to build on this growth and continue our mission to serve devoted riders with the highest performing products, backed by the very best rider support.”
“I am absolutely blown away by the success of the top businesses on this list,” said retail expert Christine Russo. “Everyone is obsessed with the frontend, flashy part of digital retail, but really the key to exponential growth lies in repeat business, and that means putting in place strong end-to-end retail operations to automate and consolidate the backend of your business. That is the foundation for the type of outstanding customer experiences which keep consumers coming back to your store.”
To compile the Lightning 50, Brightpearl asked brands to submit annual growth figures from 2020 to 2021, with each brand ranked solely on its net growth percentage during that time frame.
Notable brands in the top 10 of Lightning 50, and the recorded growth for each include:
- HUNT Bike Wheels, 1357% (Bike wheelsets for cycling enthusiasts)
- J. Brooks Boutique, 170% (Chic statement apparel)
- Caden Lane, 132% (High end newborn clothes and baby boutique)
- Wexel Art, 89% (innovative acrylic frames)
- Hoven, 64% (Trendy collections in casual-wear, sunglasses and sportswear)
The full Lightning 50 list can be found here.
Other key findings show that US firms on the list achieved sales of $341M last year. A quarter of the States’ fastest growing online brands are fashion and apparel firms - showing how customers increasingly shop for clothes online - and health and beauty brands and homeware were also well represented.
One of the four homeware brands that made the list, include art framing brand, Wexel Art. Speaking on the secret to their success, Morgan Doherty, Co-Founder and Creative Director of the business said: “Our customers come back to us again and again because of how efficiently we run our business. We are able to see real time inventory, along with what is on the way so we can meet their deadlines. Buyers have come to rely on Wexel Art as a reliable business who can meet their demanding deadlines.”
Brightpearl CEO Derek O’Carroll said: “When we consider the uncertainty of the last couple of years, it’s easy to paint a bleak picture for business. Despite these obstacles, many have risen to this, and now the results are in, we can see that some firms aren’t just showing resilience - they are absolutely thriving. When we look behind the data, there’s a combination of factors for that success, primarily driven by people and the innovative, data-driven technologies they are using that allow them to react quickly to the challenges they face.
“It’s fantastic to be able to celebrate and recognize the hard work that has gone into this growth, and I’d like to congratulate everyone who made it into the Lightning 50 list.”
Austin-based Brightpearl works with thousands of retailers introducing software that automates retail complexity and puts orders, inventory, financials, POS (point of sale) and CRM (customer relationship management) in one place so brands can grow fearlessly.
Based in Bristol (UK) and Austin, Texas (US), Brightpearl by Sage provides a retail operating system (ROS) for retailers and wholesalers.
Our mission is clear: automate the back office so merchants can spend their time and money growing the business fearlessly, and without limitations. Brightpearl by Sage’s ROS includes financial management, inventory and sales order management, purchasing and supplier management, CRM, fulfillment, warehouse and logistics. In addition, the operating system has high-performing connectors to the major ecommerce platforms, including Magento, BigCommerce and Shopify. Brightpearl’s platform manages over 10m transactions and $5bn of business a year.
In 2022, Brightpearl became part of the Sage Group plc, with the combination of Sage Intacct and Brightpearl creating a powerful solution for retailers and wholesalers.