Issa brothers now Castore’s biggest external investors

Issa brothers now Castore's biggest external investors
Castore was founded five years ago and operates from two stores.
// Issa brothers become biggest external investors in sportswear retailer Castore
// Castore aims to reach £100m in sales this year
// The Issa brothers recently acquired Asda from Walmart

Billionaire brothers Mohsin and Zuber Issa have become the biggest external investors in fast-growing sportswear brand and retailer Castore.

According to The Times, the brothers, who recently acquired Asda from US giant Walmart, have reportedly invested in Castore a few months ago via their Jersey-based investment firm Monte Group.

Brothers Tom and Phil Beahon own a controlling majority in Castore, which was founded five years ago and operates from two bricks-and-mortar stores plus an ecommerce presence in 57 countries.


READ MORE:


“Since the brothers have invested they really pushed us to grow the business and have helped enormously to accelerate our strategy,” Tom Beahon said.

Just weeks before the Covid-19 pandemic brought the UK to a halt via the first nationwide lockdown in March last year, Castore 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.

In 2019 it announced a partnership with tennis champion Andy Murray, which saw him become a shareholder as well as wear Castore kit on court at Wimbledon and the Australian Open.

Castore aims to reach £100 million in sales this year and there is speculation it might enter the stock market.

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

LEAVE A REPLY

Please enter your comment!
Please enter your name here