// Castore raises £7.5m to fund move into professional football
// The online premium sportswear retailer backed by private investors to finance expansion in team sports
Castore has raised £7.5 million from undisclosed private investors to help expand its range into professional team sports kit and footwear as well as accelerate international growth.
The online retailer, which specialises in premium sportswear, said it would leverage its expertise in technology driven product development and digital marketing to become the official kit supplier of teams from the Premier League, La Liga and Bundesliga for the 2021 season.
In addition, Castore said it was targeting endorsement deals with international rugby and cricket federations.
READ MORE: 5 Minutes With Tom Beahon, Co-Founder, Castore
Castore was founded in 2015 by brothers Tom and Phil Beahon and now sells sportswear for gym use, athletics, tennis and golf in 57 countries.
In January 2019 it announced a partnership with tennis champion Andy Murray, which sees him wear Castore kit on court and is a shareholder in the online retailer.
Castore made its first move into team sports in December 2019, signing a three-year deal with Cricket West Indies to become their official team kit partner from June 2020.
Castore, which also said it will launch a collaboration with McLaren Automotive later this year, has also forecast annual revenues of £37 million in 2020.
“Our latest fundraise is a strong endorsement of the businesses performance to date and our strategy of building Castore into a global premium sportswear brand,” 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 athlete’s performance and we look forward to more leading athletes benefiting from our truly innovative technologies.”
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5 Comments. Leave new
Great start alienate the Celtic Supporters world wide no business from them rather cut off a finger than give that Company a Penny
Celtic fans worldwide have been alienated by their own clubs actions for over 40 years.
There is only one Celtic football club (not clubs). Football clubs known as “Rangers” have a current count of two clubs. The first was Rangers in Liquidation (formed circa 1872) and the second was the brand new club formed in 2012 called The Rangers (the The to differentiate from Rangers in Liquidation) to whom the license to play in Scottish football was transferred from Rangers in Liquidation. You cannot transfer a football license between the same club. As of course you know.
So Mike Ashley of Frasers is the one who provided the investment into Castore? Very decent of him to invest in another new company. Decent guy.
Yes indeed. Mike Ashley, appears to be once more closely involved with The Rangers. It must be good for a smallish club like The Rangers to have Sports Direct involved. Good publicity for The Rangers and good income for SD.