I’ll give you a pre-warning, by the time you finish this article and see the potential money that can be made on Shopify, you’ll want to sign up for a Shopify subscription. There is a lot of money to be made with eCommerce and Shopify is the go-to platform for the majority of entrepreneurs trying to make it big online.
In this article, I’m going to cover the most profitable Shopify stores, why they are so profitable and how much money are they actually making.
GymShark
You may have already heard of GymShark or purchased some of its products because they are huge now!
GymShark was founded in 2012 by Ben Francis who was taking care of most of the manufacturing and shipping side of the business himself. At the time, he did not have the money to purchase a lot of the inventory and was instead dropshipping the fitness supplements.
GymShark is one of the most profitable Shopify stores with over 7 million monthly visitors and an estimated net worth $1.45 billion USD making them one of the world leaders in fitness apparel.
But how much money does GymShark actually make?
According to Ben Francis the CEO of GymShark, in 2019 they sold 11 million units and generated over $308 million USD in revenue. In 2020 they sold over 16 million units and generated over $516 million USD in revenue.
It’s amazing to see someone have an idea and have the passion and determination to go all in and create a billion dollar brand.
This is why I believe it’s important to pursue something you’re passionate about instead of just chasing what can make you the most money. Ben Francis probably wouldn’t have had the motivation to stick it out if he wasn’t already passionate about the fitness industry.
Ben Francis is the richest online-only Shopify seller with a 70% stake in GymShark he is estimated to be worth $855 million USD. Other Shopify sellers with a higher net worth than Ben Francis have multiple brick and mortar stores.
Fashion Nova
Fashion Nova is another massive Shopify store, they are not exclusively a Shopify store however as they have several brick and mortar store locations around the world.
Fashion Nova is a fashion brand for men’s and women’s clothing and accessories. It was founded in 2006 by Richard Saghian who is estimated to be worth $710 million USD according to Aknowledge.
They have a huge range of products with over 5,000 items for sale on their Shopify store alone. According to similar web, they are receiving over 26 million visitors a month, 71% of that coming from the US market.
Fashion Nova is estimated to be worth US $1.4 billion according to Forbes.
As a Shopify store, Fashion Nova has not gone for a high-end luxury look like many brands. The store has however catered to a large audience with thousands of items from clothing to beauty for men, women and kids.
Colour Pop
Colour Pop is a Shopify store that sells makeup and skincare products. They were founded in 2014 by siblings Laura and John Nelson.
They have a massive range of products and their products are not expensive which is one of the main reasons they are very popular. According to Koala Inspector, they have over 1600 products on their Shopify store and their average product cost is only $13.
They receive 5.3 million monthly visitors with 56% of that traffic coming from the US market.
JB Hi-Fi
JB Hi-Fi is an Australian based electronics and appliances retail store. It has over 200 physical store locations based around Australia as well as being very popular online.
JB Hi-Fi started using the Shopify platform in 2018 to help expand its eCommerce presence. Over 95% of their online traffic comes from Australia.
JB Hi-Fi has over 13 million monthly visitors, thousands of products, a high average product price and an estimated net worth of $5.5 billion, making them the most profitable Shopify store.
However, just because they are the most profitable store on Shopify, does not mean they make the most money on Shopify.
Having over 200 brick and mortar store locations is most likely where they make most of their money. This is very different from a Shopify store such as GymShark which is exclusively a Shopify store.
Before using Shopify, JB Hi-Fi had issues with their website when they had black Friday sales but those issues have disappeared since moving over to Shopify according to this article.
Skims
Skims was founded in 2019 and is a shapewear and clothing brand for women. The reason this brand has only been around for a short time and is already dominating is the founder is Kim Kardashian.
This shows the power of having one of the strongest influencers in the world promoting a store.
According to Similar web, Skims is receiving nearly 7 million monthly visits with 68% of the traffic coming from the US market.
When you look at where Skims is receiving most of its traffic you can see over 88% of it comes from search and direct channel sources. Having Kim Kardashian heavily promoting the brand is one of the biggest reasons for this traffic distribution.
Which Shopify Store Makes the Most Money?
Do I personally know which Shopify stores make the money? No, without access to each Shopify store’s tax income statement I can never be 100% certain.
I can however take some educated guesses based on the traffic they are receiving, their average product price, the number of products they stock, whether they are exclusively online only and the information I have researched from other online sources.
| Shopify Store | Monthly Visits (Similar Web) | Number of Products (Koala Inspector) | Average Product Cost (Koala Inspector) | Estimated Net Worth |
|---|---|---|---|---|
| GymShark | 7.5 million | 4,000+ | $25 | $1.45 billion USD |
| Fashion Nova | 26 million | 5,000+ | $22 | $1.4 billion USD |
| Colour Pop | 5.3 million | 1,600+ | $13 | $500 million USD |
| JB Hi-Fi | 13 million | 5,000+ | $460 | $5.5 billion USD |
| Skims | 6.9 million | 3,200+ | $48 | 3.2 billion USD |
| Alo Yoga | 1.5 million | 3,200+ | $61 | 300 million USD |
Fashion Nova receives the most traffic from any Shopify store with around 26 million monthly visits a month. 71% of the traffic comes from the USA and 71% of the traffic is female.
JB Hi-Fi has the highest net worth of any Shopify store with an estimated net worth of 5.5 billion. They are not exclusively a Shopify store and most of their sales would be in their physical locations.
Fashion Nova makes the most money as a Shopify store. They have the highest rank in terms of the world site popularity rating of any Shopify store, they have 26 million monthly visitors, and thousands of products.
GymShark is exclusively sold on Shopify and is valued at $1.45 billion. In 2020 they generated over $500 million making them the most profitable online-only Shopify store.
Richest Shopify Sellers
| Shopify Seller | Shopify Store | Estimated Net Worth |
|---|---|---|
| Richard Saghian | Fashion Nova | $710 million USD |
| Ben Francis | Gym Shark | $855 million USD |
| Laura & John Nelson | Colour Pop | $87 million USD |
| Aman Gupta | boAt Lifestyle | $93 million USD |
| Kim Kardashian | Skims | $1.4 billion USD |
| Kylie Jenner | Kylie Cosmetics | $600 million USD |
Kim Kardashian is the richest Shopify seller with an estimated net worth of $1.4 billion USD. Her brand Skims is currently valued at $3.2 billion USD and is one of the most successful Shopify stores.
I have linked to the articles which are estimating the net worth of the richest Shopify sellers. Take all the information with a grain of salt as how does anyone really know how rich they actually are apart from the Shopify seller themselves.
How to Find the Top Shopify Stores?
If you want a full list of Shopify stores, head to MYIP.MS, hover over the website tab and click on World Website Database, then click IP Owner/Hosting and scroll down to Shopify, Inc. You will then be given a list of the Shopify stores in order of “world site popularity ranking”.
You can then use a tool such as Similar web which is a Chrome extension to find their traffic volume, traffic location, advertising methods and much more.
Another useful Chrome extension is Koala Inspector. This extension will provide you a plethera of information regarding the Shopify store itself including their Shopify theme, how many products they stock, product pricing and even the Shopify apps they are using.
Summary
These stores show the power of creating a brand on Shopify. Take note of their websites, their branding, their advertising, their images, and their copywriting and apply their success to your own Shopify store.
When I was writing this article I was going through the top 50 Shopify stores and found that the vast majority of them were in the fashion and accessories niche. This is no surprise as the top-selling categories online in most countries it’s fashion for a considerably margin.
Does this mean you should jump into the fashion niche? No.
Although it’s extremely profitable it’s also extremely competitive and often dominated by the big brands which are shown by Shopify’s most successful stores.
If you want some more information on average dropshipping profit margins check out my article here.
As I started scrolling down the list of Shopify stores I found there were fewer clothing stores and more regular product stores. I suggest you read my article for some uncompetitive niches to sell.
My advice would be to steer clear of fashion if you’re a beginner at Shopify. Fashion is tough to break into and it’s also the most refunded and returned category of any niche sold online. As a beginner, selling everyday items on Shopify would be an easier route.
You can become a millionaire simply by selling a single product on Shopify. If you don’t believe me, check out my article to learn from the best one-product stores.
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