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Tracksmith
Dwight Funding | Tracksmith

eCommerce Spotlight: Tracksmith

From his days admiring childhood heroes in Runner’s World to competing in cross country at Yale and serving as Head of Marketing for Puma running, Tracksmith Co-Founder and CEO Matt Taylor has always been deeply in tune with the needs of the “Running Class.” This cohort, coined by the DTC luxury athleticwear brand, refers to “non-professional yet competitive runners dedicated to the pursuit of excellence.”

 

Tracksmith was born out of Matt’s personal experience and his desire to champion amateur runners and craft products that meet them where they are — be it training, racing, or resting. While Tracksmith began with basics (a t-shirt, mid length shorts, and drawstring bag), the cult favorite has since ramped up the product mix to include broader offerings (a zip-up, pants, and briefs, to name a few).

 

Tracksmith’s overwhelming success from the get-go reaffirmed the market need for a brand by runners, for runners. As the customer demand skyrocketed and his larger vision started to become a possibility, Matt anticipated the need for cash to fund inventory production and build out new, sought after product SKUs.

Tracksmith’s Growth Trajectory

Channel Expansion

Tracksmith extended its footprint to include a flagship retail location at the heart of Boston’s Newbury Street. Aside from being its first permanent store, the “Trackhouse” also serves as a hub for community, training groups, and special events.

Product Buildout

Tracksmith’s leadership recognized the need amongst amateur runners for broader apparel that could seamlessly transition from one season to another, and one setting to another. The brand’s loyal customers were ecstatic when Tracksmith began offering all seasons and lifestyle collections.

Financing Growth

The brand most recently completed a Series B fundraise led by Causeway Media partners, complementing its line of credit with Dwight. This collective financing allowed them to invest in initiatives to grow their community and evolve their products, all the while maintaining cash flow to meet customer demand.

Dwight Funding | Tracksmith
Dwight Funding | Tracksmith
Working with Dwight has been a true partnership, in that they've been invested from the start in understanding the demands of our business and our vision for the future. As a runner, I always emphasize to our team the need to establish a strong foundation for sustainable growth, Dwight has been aligned with this mindset and supported us with the tools to expand.

Matt Taylor

CEO & Co-Founder, Tracksmith

As the demand and scope of his business exploded, Matt knew Tracksmith needed financing that could grow alongside it. Having worked with similar high growth e-Commerce companies, Dwight understood their business model and was set up to offer a flexible structure that supported inventory boosts, seasonality, and building out new product SKUs.

 

As it turns out, Tracksmith and Dwight had a lot in common — they were both committed to understanding those they serve. Just as Tracksmith has a highly personal appreciation for the needs of committed runners, Dwight makes every effort to understand the vision and trajectory of its portfolio companies.

 

587%

growth over the course of their partnership with Dwight

7x

their community has grown sevenfold since working with Dwight

150%

growth in inventory since partnership with Dwight began

What’s Next for Tracksmith?

In 2020, many runners were able to dedicate time to training and introspection, resulting in an even greater appreciation for the sport during lockdown.

 

Tracksmith’s growth efforts in 2021 will build on pent up enthusiasm around the sport and the anticipation around the re-opening of Marathon Majors. Plans include immersive activations at events and the expansion of their product lines and community offerings.

Interested? We’d love to hear from you.

Growing your eComm Business? Let’s talk about how Dwight can help.