// Sweaty Betty seeks investor after rising demand in athleisurewear
// The retailer has drafted in Goldman Sachs to consider the possibility of an investor
// The business already counts US-based global investor L Catterton among its backers
Sweaty Betty is reportedly seeking further investment to benefit from the ongoing demand for athleisure during the Covid-19 pandemic.
The retailer has drafted in Goldman Sachs to consider the possibility of an investor, which could value the business at £250 million, The Times reported.
The business already counts US-based global investor L Catterton among its backers.
READ MORE: Sweaty Betty appoints new CEO
Sweaty Betty creates activewear for a number of specialist sports activities such as yoga, running and skiing.
The business, which was founded in Notting Hill in 1998 by Tamara Hill-Norton and her husband Simon, operates around 60 stores – with a flagship on London’s Carnaby Street.
The Covid-19 pandemic is understood to have led to a rise in “athleisurewear”, which has seen Sweaty Betty explore a sale.
As people continue to work from home due to an impending second national lockdown in England, it is expected that demand for athleisure will rise.
However, Sweaty Betty was unlikely to achieve a high multiple because it continued to have a bricks and mortar estate, which is due to shut for four weeks from November 5 across England – resulting in lack of footfall.
Click here to sign up to Retail Gazette’s free daily email newsletter
