Los Angeles-based supplier Therabody (PPAI 794574, S1) has been named to the TIME magazine TIME 100 Most Influential Companies list for 2023. The magazine places the wellness products company best known for the Theragun among the “Innovators” in its list for “democratizing massage guns previously reserved for athletes and medical professionals,” as well as creating over a dozen new self-care products over the past couple of years.
Honored to be named one of @TIME‘s 100 Most Influential Companies of 2023 as an Innovator. Our science-backed innovations continue to democratize wellness and help every body #KeepMoving — and we’re just getting started.
Click to read more: https://t.co/U5hBz7QsR3 pic.twitter.com/IYTZKsL9S9
— Therabody (@therabody) June 21, 2023
TIME created its list, the third since 2021, through a combination of seeking nominations and polling its contributors and correspondents, as well as outside experts. Companies were then evaluated on key factors including impact, innovation and success. Those that ultimately made the list, like Therabody, are recognized as leaders and change-makers.
Therabody began as a direct-to-consumer brand in 2017. The corporate markets division was created in early 2020, and the company joined PPAI in early 2021 and dove into the promotional products market. The company also participated in the first “The Pitch” event at The PPAI Expo 2023.
Andrew Spellman, the company’s vice president of corporate markets, joined the PPAI Board of Directors in 2021 and currently serves as chair-elect. A 30-year veteran of the promotional products industry, Spellman says corporate markets and promo have become a substantial part of Therabody’s business, finishing 2022 as its third-largest vertical in the Americas region, behind direct-to-consumer and consumer electronics sales.
The brand’s consumer cachet – it’s among Oprah’s favorite things – makes it a sought-after promotional item highly recommended by distributors.
“The distributors in the promo industry continue to be asked to provide successful retail brands as merchandise solutions for their end-user customers, and the huge growth of the wellness arena has made Therabody a sought-after gift for their employees or good customers,” says Spellman. “Over 45% of distributors are now selling name brands as a part of their product mix. The end-user buyers’, and more importantly the gift recipients’, thirst for quality name-branded products is larger than ever.”
Two other companies with direct ties to the promo industry also made the list:
- Patagonia was named among the “Leaders” for setting “a bold new standard for how companies can address the climate-change crisis.” The retail brand recently returned to selling its products through the promo industry, and its famed commitment to sustainability makes it popular with buyers.
- The North Face, another popular retail brand sold through the promo industry, was named to the “Innovators” group alongside Therabody for its efforts to promote circularity, with construction that supports easy disassembly and reuse, as well as its upgraded product take-back program.
Other TIME 100 honorees with promo cred include:
- Disney: Named among TIME’s “Titans,” the Mouse House makes billions from its branded merch each year.
- Mattel: From Barbie to Hot Wheels, the toy maker (also among the “Titans”) has been a hot branding house for years, but in the past year alone, Barbiecore has spawned hundreds of merchandise and fashion collaborations. (Watch Newslink in July for more on the hot pink trend.)
- Crocs: Listed among the “Innovators” along with Therabody, the comfort-forward shoe brand has “a knack for clever collaborations,” whether it’s a full-shoe design like 2020’s KFC Crocs or the wearer’s personal collection of “jibbitz,” the silicone 3D pop-in shoe charms (offered by multiple promo suppliers). This combination of buzz and hyper-personalization makes Crocs a particular favorite of Gen Z.
- Taco Bell: Love it or hate it, Taco Bell (another “Innovator”) knows how to go viral with its promo campaigns and wacky merch, from a pop-up hotel in Palm Springs, Florida, to hot sauce adult onesies and pool floats (which have become a required item in any fast-food chain’s summer merch collection).
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Chipotle: Listed among the “Leaders,” this made-to-order burrito chain earns praise for its ESG efforts and social media prowess. The brand offers solid merch, too, from its customizable tees declaring your burrito order to its “Love What Makes You Real” Pride collection that raises money for The Trevor Project.