One of America’s fastest-growing private companies

Photo by Robert Williams
Lakeshirts in Detroit Lakes was recently ranked No. 113 for manufacturing firms on the Inc. 5000 annual list of the fastest-growing private companies in America.

Inc. revealed that Lakeshirts ranks No. 113 for manufacturing firms on the 2023 Inc. 5000, its annual list of the fastest-growing private companies in America. 

The prestigious ranking provides a data-driven look at the most successful companies within the economy’s most dynamic segment—its independent, entrepreneurial businesses. Facebook, Chobani, Under Armour, Microsoft, Patagonia, and many other household name brands gained their first national exposure as honorees on the Inc. 5000. 

“As a mature company– we’re almost 40 years old– generating this kind of growth is truly remarkable,” stated Mike Hutchinson, Lakeshirts’ co-CEO. “Being recognized for our growth by Inc. is a real honor, and is a testament to all of our incredible team members and their great and productive efforts.”

The Inc. 5000 class of 2023 represents companies that have driven rapid revenue growth while navigating inflationary pressure, the rising costs of capital, and seemingly intractable hiring challenges. Among this year’s top 500 companies, the average median three-year revenue growth rate ticked up to an astonishing 2,238 percent. In all, this year’s Inc. 5000 companies have added 1,187,266 jobs to the economy over the past three years.

For complete results of the Inc. 5000, including company profiles and an interactive database that can be sorted by industry, location, and other criteria, go to www.inc.com/inc5000. The top 500 companies are featured in the September issue of Inc. magazine, available on newsstands beginning Tuesday, August 23.

“Running a business has only gotten harder since the end of the pandemic,” says Inc. editor-in-chief Scott Omelianuk. “To make the Inc. 5000—with the fast growth that requires—is truly an accomplishment. Inc. is thrilled to honor the companies that are building our future.”

The Inc. 5000 recognition is the latest in a recent string of notoriety for Lakeshirts – in May the company was awarded the Apparel Impact Award recipient by CLC; the leading collegiate trademark licensing company. Likewise, in June they were named the Better Business Bureau Torch Award for Ethics winner for large companies in Minnesota and North Dakota.

“Having received all this recent recognition, our tagline of ‘life’s better in a t-shirt’ sure seems on-target,” stated Mark Fritz, Lakeshirts’ co-CEO. “We’re humbled to be called out by such a prestigious list of organizations.”