Luxury sportswear brand Castore secures £3.2 million funding

337

Castore has received £3.2 million in private funding from the City as it sets its sites on expansion into Asian markets.

The young premium sportswear brand, which was founded in 2016, secured investments from Saatchi & Saatchi chief executive Robert Senior and private investor Arnaud Massenet to further fund its growth.

Since its launch two years ago the brand has already broken into 27 countries and expects sales to more than double from £750,000 to £2.7 million this year.

The funds will be used to expand its product range and its management team, adding a chief financial officer and a chief operations officer, as well as driving growth in the US and Asian markets.

Click here to sign up to Retail Gazette‘s free daily email newsletter