UK-based womenswear brand Adanola has sold a minority stake to Los Angeles private equity firm STORY3 Capital Partners, marking a key step in its expansion plans.
The partnership values the business at around $530m and aims to strengthen its position as a global leader in activewear.
Founded in 2015 by Hyrum Cook, Adanola counts celebrities including Kendall Jenner, Kaia Gerber, Veneda Carter and Rosie Huntington-Whiteley among its high-profile supporters.
In June 2024, the brand appointed former Gymshark chief commercial officer Niran Chana as CEO to lead growth strategy and execution.
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Commenting on the deal, Chana said: “We’re thrilled to announce the investment from STORY3 which values Adanola at approximately $530m.
“STORY3’s deep experience for building consumer brands will be crucial as we continue to build sustainable, profitable growth across key markets and reinforce Adanola’s position as a leader in the consumer sector.
“I’m incredibly proud of what the Adanola team has achieved to-date, and we’re poised and ready for our next chapter.”
Peter Comisar, founder and managing partner of STORY3, added: “Adanola has garnered uniquely strong and authentic relationships with consumers, and we believe the business is in the early stages of powerful global growth.
“We are honoured to serve as a trusted partner to Hyrum and Niran given our long track record of supporting founders and entrepreneurial executive teams.”
The activewear brand operates a direct-to-consumer model alongside a wholesale network that includes Selfridges Group, David Jones, Ounass, Equinox and Soho House.
Looking ahead, the brand plans to continue prioritising digital channels while selectively expanding its retail presence, with long-term ambitions for own-brand stores.
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