Asda owners are now biggest outside investors in Castore
Entrepreneur brothers Mohsin and Zuber Issa have become the largest outside investors in Castore, the fast-growing British sportswear brand.
The pair, who recently bought UK supermarket giant Asda from US parent Walmart, are understood to have invested in Castore some months ago through their Jersey-based Monte Group, reported the Times newspaper.
Brothers Tom and Phil Beahon own a controlling majority in the five-year-old Castore business, which bills itself as "the world's first premium sportswear brand", and has a kit deal with Glasgow Rangers, the new Scottish Premiership champions.
Tom Beahon said: “Since the brothers have invested they really pushed us to grow the business and have helped enormously to accelerate our strategy”.
Castore, which is being tipped for a future stock market listing, aims to reach £100 million in sales this year after demand for its premium athleisure wear peaked during the lockdowns.
However, given the higher price points of Castore Sportswear, any link with budget retailer Asda can surely be ruled out, even though the sector is expected to continue its popularity post-lockdown.
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