Tracksmith’s strategy for success: Slow and steady wins the race

It’s 6:15 a.m. on a Friday in June. All is quiet on Newbury Street, Boston’s usually bustling shopping district with its tidy rows of brownstones. Except, that is, for a dozen runners. They’ve gathered in front of the Tracksmith storefront, known as the Trackhouse.



Many are dressed in Tracksmith’s clothes, which are inspired by vintage running gear from preppy college campuses in the 1960s. The runners are wearing understated singlets in navy or maroon, paired with loose fitting shorts. Even their sneakers look old-fashioned, with a simple stripe across the side. For a few minutes, the runners drink coffee and scarf down oats. Then off they go on a five kilometer run through Boston Common, each at their own pace.



Boston [Photo: courtesy Tracksmith]



Matt Taylor launched Tracksmith as a direct to consumer brand a decade ago, after struggling to find running gear that was both fashionable and high-performing. Over the years, the brand has stayed laser focused on catering to their target customers: committed runners. It’s been a clever strategy. Other startups of the same era—like Allbirds, Away, and Glossier—grew quickly at the beginning by trying to reach a wider range of customers, but then ran into roadblocks . Tracksmith’s growth has been slower but steadier.



Now, Tracksmith is ready to scale. Its revenues have tripled since 2019, and it just opened Trackhouses in London and Brooklyn. And as athletes descend upon Paris for the Olympics next month, Tracksmith will be ready for them. It has partnered with Merci , a design-forward boutique, to create a pop-up Trackhouse along with limited edition gear. At what will be perhaps the most fashion-forward Olympic Games of all time, Taylor believes that many runners are looking for a more elegant alternative to the cartoon-colored skin-tight gear that dominates the market. And given the brand’s upward trajectory, he might be on to something.



[Photo: courtesy Tracksmith]



Fashion And Function



It’s no small feat to launch a running brand and survive to tell the tale. The running industry is a $41.8 billion global market, dominated by big legacy players like Nike and Adidas, whose prowess will soon be on display as they sponsor many of the world’s Olympic track and field teams. There’s also been a flock of newer sneaker companies, like On Running and Hoka that have made inroads with elite runners, and are now billion dollar businesses.



A decade ago, Taylor was fully aware of how crowded the market was. He had previously worked at Puma, after a career as a filmmaker who made documentaries about the world’s best athletes. But as an avid runner himself, he observed that the industry was missing something important: premium, elevated running clothes.



Historically, all the major sportswear brands started with footwear, which is a highly technical, complex product to design and produce. After spending years developing high-performing sneakers, they added clothes as a secondary category to grow their businesses. Taylor felt that many of these brands weren’t paying enough attention to the design of these garments. “They were made of cheap materials, and looked fairly similar from brand to brand,” he says. “Things were either boring black or came in loud colors.”



[Photo: courtesy Tracksmith]



But Taylor believed it was possible to create more sophisticated running clothes. In fact, this aesthetic already existed. Taylor loved the simple garments runners wore in the past. Over the years, he’s collected photos of runners all the way back to the 1920s, and many of these are framed on the walls of Trackhouses. Taylor also collected actual vintage garments anywhere he could find them. “He brought in his father-in-law’s running clothes from college,” says Mollie Talmanson, Tracksmith’s VP of product sourcing and development, who has been designing for the brand from the beginning. “We used these as the model for what we were trying to design.”



[Photo: courtesy Tracksmith]



As Talmanson set out to create modernized versions of these garments, she began with the fabrics. In the 1970s and earlier, athletic garments were made from organic materials like cotton and wool, because plastic-based synthetics weren’t widely available. Natural materials tend to absorb moisture, which makes them heavy, which is why sportswear brands today use plastic-based synthetic fibers that are moisture-wicking and stretchy. But synthetics aren’t durable, and many are treated with coatings to add features like sun protection, which wears off over time.



Tracksmith favors merino wool, which is naturally anti-bacterial. The brand also adds active silver yarn that helps with moisture management and odor control. “We have people testing our shirts by running 50 miles a week without washing them,” says Talmanson. “Our customers should be able to travel with our gear and wear it for days.”



Tracksmith garments are pricier than many other brands on the market, with singlets and shorts priced upwards of $70. But Talmanson says that the brand makes these garments to last a long time. This means the fabrics need to survive regular use for years, but they are also designed to be timeless. Tracksmith’s aesthetic hasn’t changed over the last decade. Indeed, the very first pieces Tracksmith released, like the Van Cortlandt singlet and shorts, are still in the collection. “Our business grows when people run more, meaning they need extra shirts,” says Talmanson. “Or when they tell their friends about us because the products work so well.”



Boston [Photo: courtesy Tracksmith]



Cultivating Culture



When Taylor started Tracksmith, he felt that most running brands weren’t speaking to the “committed runner.” These aren’t necessarily record-setting athletes, or marathoners, but they are seasoned runners. They’re people who lace up their running shoes every day and have made running a cornerstone of our life. “There are millions of us,” says Taylor. “I figured if we could really embed ourselves with these runners, we could have a real business.”



From the start, Tracksmith was focused on building community. It drove Taylor to design stores that were places to sell product and for people to gather. Many runners have fond memories of running with their high school or university team, but haven’t found a similar community in adulthood. The Trackhouse is meant to feel collegiate. Clothes hang on what look like lockers. And there’s a bar in the corner.



[Photo: courtesy Tracksmith]



Throughout the week, groups of runners swing by for free activities, from group runs and workouts to Olympic track and field trial viewing parties. When it’s marathon week in London, New York, or Boston, the Trackhouse becomes a hub for hundreds of marathoners and their supporters.



[Photo: courtesy Tracksmith]



Tracksmith has launched programs to help runners at every stage of their journey. There’s the Amateur Support Program to help elite collegiate runners transition to their post-collegiate life. If they’re accepted, athletes will get coaching, competition expenses and on-the-ground support, along with gear, to the biggest running events in the world including the Olympic trials. The Tracksmith Foundation is a nonprofit wing that aims to level the playing field for track and field by supporting youth coaches in underfunded school districts and saving collegiate teams that are at risk of elimination because of budget cuts. There’s even a Tracksmith fellowship for creatives to launch projects related to running, from documentary films to writing memoirs.



[Photo: courtesy Tracksmith]



The Next Mile



Tracksmith’s business tripled during the COVID-19 lockdown, when millions of people dealt with their cabin fever by lacing up their sneakers and going for a run. Nearly 29% of all current runners took up the sport during the pandemic. While Tracksmith couldn’t have predicted this influx, it was nonetheless ready for them. It has a finely tuned approach to speaking to new runners, with emails offering advice and insights into the running life. And of course, the gear they need.



Eliot Runner [Photo: courtesy Tracksmith]



Last year, Tracksmith launched its very first shoe. The company brought in footwear experts to design an everyday trainer meant for logging thousands of miles. While competitors like On Running and Hoka are known for their almost cartoonishly thick soles, Tracksmith’s shoe is characteristically understated. But despite its minimal profile, it has a plush footbed that offers cushioning and energy return. And it’s been a hit: It’s now the brand’s top-selling product, adding 12% to overall revenue. And later this year, Tracksmith is launching a carbon-plated shoe that is designed for race days.



Eliot Racer [Photo: courtesy Tracksmith]



Tracksmith is now ready to compete with the bigger players in the running world and steal more of their market share. Taylor remains focused on growing by deepening its relationships with devoted runners, rather than trying to expand into different sports. “There are always new people who are crossing the threshold,” says Taylor. “They’re at the beginning of their journey. One day, they wake up and say, ‘I am a runner.’”