Andy Murray takes stake in expanding Castore, will be its global face
UK premium sports and casual menswear brand Castore is gearing up for a big expansion drive following news that tennis champion Andy Murray has taken an undisclosed stake in the firm and has also signed an £8 million deal to be its global ambassador.
It will target international growth with Murray the face of its global drive after he moved to the brand this year following the end of his Under Armour sponsorship deal. There’s already an Andy Murray tab on the brand’s website and there has been speculation that it could move into womenswear and open stores, despite being a digital brand.
Murray, whose tennis future remains uncertain following his hip surgery, is nonetheless a high-profile name in the wider sports world and has a very positive image.
He’s now on Castore’s board as an advisor with Tom and Phil Beahon, the brothers who founded the only-three-years-old brand, saying his involvement should put a rocket under the firm’s growth plans.
As well as being the face of the brand, Murray will advise on product innovation and will launch signature product with Castore over the next year. The Beahons said that Murray’s knowledge is unparalleled and he really understands what’s needed from a product on the performance front.
The company will target key Asian markets as it expands but will retain its digital focus with a Japanese website the next big launch this spring.
Will Murray’s possible retirement be an issue? The company said that he’s“perfectly aligned” with its brand ethos of ‘Better Never Stops’, whether playing or not.
The company hasn’t given financial details of Murray;’s investment in it, nor of the value of his sponsorship deal, although the FT cited knowledgeable sources as saying it’s worth £1 million a year for eight years.
Castore was founded in 2016 as the Beahon brothers saw a gap in the market for quality products and just as the business itself hit the ground running, so has the Andy Murray link.The company is undeniably making the most of the Murray connection publicity-wise. Tom Beahon said: “The most successful British tennis player in history choosing to wear our products to help his performance is a real privilege and really underscores the superior quality of Castore products. We create sportswear that helps make athletes perform better and it is fantastic that Andy rates our products so highly. Andy is a huge inspiration to athletes all over the world.”
Murray added that “as my next kit partnership will potentially be my last one, I want to wear the very best products.”
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