Deloitte Fast 50: Tracksuit named fastest-growing company of the year

Tracksuit co-founder Connor Archbold. The company has topped the Deloitte Fast 50 Index with revenue growth of 627% over the past three years. Photo / Dean Purcell

Brand tracking company Tracksuit has topped the Deloitte Fast 50 Index with revenue growth of 627% over the last three years.

The firm was founded in 2021 with the idea of giving smaller companies access to the same brand-tracking survey tools big companies buy in from big research outfits – but at a tenth of the cost and with more DIY flexibility.

It has big corporates on its books including Disney, Zuru, Goodman Fielder, Steve Madden and New Zealand’s Simplicity KiwiSaver.

In June Tracksuit raised US$25 million ($42m) in one of the largest-ever venture capital raises for a local start-up.

Deloitte private partner and Fast 50 lead, James Arlidge, said Tracksuit’s success story was a perfect example of how two people with an idea can form the foundation for something huge.

“Their start-up mindset has allowed for fast growth, along with their agility and a focus on the people in their company, their clients and the broader consumer base from which their brand tracking data is gained.

“This focus on people has undoubtedly helped lead them to the top spot on this year’s index.”

The fastest-growing companies were revealed at the Deloitte Fast 50 awards held at Eden Park tonight, the 25th year of the Deloitte Fast 50 programme.

Second-fastest was Stronghold Group, which provides construction and infrastructure solutions, with growth of 590%. It also took home the award for the fastest-growing Māori- or Pasifika-owned business – the first time that category has been introduced.

Third place was claimed by Moxx Brands, a rapidly growing consumer goods company.

Fourth was BlockBlueLight, which bills itself as New Zealand’s primary supplier of blue and artificial light-blocking devices, including glasses.

Fifth was Robomate, which sells robot vacuum cleaners, pool cleaners and vacuum cleaners made by Chinese firms Dreame and Mammotion.

Companies in the Fast 50 have to meet criteria including being in business for a least three years and revenue of $1 million or above in FY23 and submitting independently prepared financials for FY24 and FY25.

Masters of Growth

Phoenix Recycling Group topped the Master of Growth index, which recognises sustained growth over five years, with 626% growth.

The nationwide recycling business is New Zealand’s largest privately held metal recycler.

It was followed by Oritain (558%) and retail crime intelligence platform Auror (538%).

The Deloitte Fast 50 Index – NZ’s five fastest-growing businesses

1. Tracksuit (627%)

2. Stronghold Group (590%)

3. Moxx Brands (512%)

4. BlockBlueLight (414%)

5. Robomate (408%)

See the full Fast 50 index and Masters of Growth winners here.

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