In this article, we take a look at the 5 fastest growing DTC companies in 2023. If you want to check out our detailed analysis of the DTC industry, go directly to 15 Fastest Growing DTC Companies in 2023.
5. Function of Beauty
4-year Revenue Growth: 684.5%
Function of Beauty is a haircare brand which customizes hair products such as shampoo and conditioner according to the hair type and nutritional requirements of each customer. While it has gained considerable popularity among its customers through DTC branding, Function of Beauty is now exploring new markets for its customizable hair product by launching four new products for straight, wavy, curly, and coily hair exclusively in Target Stores.
4. Daily Harvest
4-year Revenue Growth: 1042.6%
Daily Harvest is a plant-centric meal-delivery service which prepares food and smoothies entirely out of fruits, vegetables, seeds, grains, and pulses. Launched by a 39-year-old woman, this brand started earning a revenue of $250 million within five years of its launch. Some of the most famous celebrities who have invested in Daily Harvest include tennis star Serena Williams, actress Gwyneth Paltrow, and NFL star Jared Goff.
3. Trinny London
4-year Revenue Growth: 1154.5%
Founded by Trinny Woodall, a British fashion expert, this beauty and skincare brand produces innovative products which are easy to carry and offer remarkable results. One of their popular products is called Stacks, which is a portable tower made of discs which contains cream-based foundation, lip and cheek tint, and eye shades. It also offers personalized skincare routines and makeup products according to each customer’s skin type.
2. The Farmer’s Dog
4-year Revenue Growth: 1321.7%
This is an online dog food store which delivers freshly-made meals that customers can directly feed to their canines. The food is prepared by vets using human-grade meat and vegetables without any additional preservatives. The brand also takes pride in preparing customized meals for each dog according to its dietary requirements as mentioned by the dog parent.
1. Athletic Brewing
4-year Revenue Growth: 2176.0%
Founded in 2017, this DTC company now ranks 4th on the Financial Times’ list of Americas’ fastest growing companies in 2023. Athletic Brewing produces non-alcoholic beer for adults who prefer to stay off alcohol but don’t want to give up on socializing. This brand also produces sparkling water, and all its products are vegan-friendly as well.
Disclosure: None. You can also take a look at 17 Most Valuable E-Commerce Companies in the World and 5 Best Ecommerce Stocks to Buy Now.
Insider Monkey focuses on uncovering the best investment ideas of hedge funds and investors. Please subscribe to our daily free newletter to get the latest investment ideas from hedge funds’ investors letters by entering your email address below.
