Castore raises funds to enter pro kits sector
Andy Murray-backed premium sportswear brand Castore has secured £7.5 million from private investors including Arnaud Massenet to help it expand into the lucrative football market.
In addition to Massenet and Murray, backers include Tom Singh, the founder of high street fashion chain New Look, and former Saatchi & Saatchi boss Robert Senior.
Murray also sits on the board, after becoming a shareholder and official skit partner in 2019.
Castore will use the funding to accelerate its entry into professional team sports, with plans to become the official kit supplier of teams from the Premier League, La Liga and Bundesliga for the 2021 season, reported Business Desk.
Founded by brothers Tom and Phil Beahon, the business has already made its mark in tennis through the landmark deal with Andy Murray, and in December 2019 it signed a three-year deal with Cricket West Indies.
The brand’s latest ambition will see it compete with global giants like Nike and Adidas. International rugby teams and cricket federations are also being targeted as part of the new growth plan.
The Liverpool-based business expects annual sales to reach £37 million this year.
Commenting on the investment, co-founder Tom Beahon said: “These funds give us the firepower to expand in a number of exciting areas including partnerships with some of world’s most exciting professional teams. Castore creates products that enhance athletes’ performance and we look forward to more leading athletes benefiting from our truly innovative technologies.”
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