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Article Posted June 24, 2018 13:37:47Byford kept fit Premium keeps fit has been in the headlines for the past few months as it was recently revealed the fitness brand was looking to make the jump to premium in 2018.
Byford’s founder and chief executive officer Ben Stacey was quoted as saying that by 2020 he would be looking to bring Byford to the premium market.
By the end of 2018, Byford was said to be looking for a premium price point.
By 2025, Byfords future plans are unclear.
The company is also looking to take advantage of the growing trend of consumers buying more and more fitness equipment each year.
With Byford’s premium plans still unclear, we thought it would be worth looking at how the brand has fared over the years.
In the first half of 2019, By fancies first two years, the brand lost around 20,000 followers on Twitter.
The brand also lost around 1.3 million Facebook likes and 1.6 million Instagram followers.
By 2020, Byfs sales fell by more than half, to just over 5.6m.
By the middle of 2021, the company’s sales fell another 7.6% to just under 3.4m.
By 2021, Byffers share price fell by almost half again to $1.35 per share.
It was not until mid-January of 2021 that the company managed to pull itself back from its early woes.
By then, the shares had already been hit hard by the Brexit vote, as many in the UK were not keen on the proposed immigration clampdowns and had begun buying the brand from the brand’s main owner.
A lot has changed since then.
In fact, By Fits stock price has dropped nearly 60% since then, from $2.60 to just $1 at the end 2017.