Premium sportswear brand Castore raises £3.2m from a group of private investors

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Premium sportswear brand Castore has raised £3.2m from several high profile investors which include former Saatchi & Saatchi boss Robert Senior, Arnaud Massenet, the former husband of Net-A-Porter founder Natalie Massanet and individual investors like New Look founder Tom Singh.

Castore was founded by brothers Tom and Phil Beahon at the ages of 26 and 23 respectively. Both come from professional sporting backgrounds and these experiences have given them a deep appreciation of what serious athletes want from their sportswear. It claims to be the world’s first premium sportswear brand specifically for men, targeting only the most discerning athletes.

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The Beahon brothers look forward to expanding their market in Asia and USA with the acquired funding. They plan to launch a dedicated Asia website open its first store in Hong Kong.

In an official statement, Tom Beahon said, Tom Beahon said: “We are delighted to get such an enthusiastic response to our fundraising and to secure the support of such high-caliber investors. The money raised will help take us to the next stage in our development and step up our international presence.”

The Chester based company forecasted sales to rise to £2.7m this year, up from £750,000 in 2017.

Also read; Britain To Launch ‘Startup Visas’ For Entrepreneurs Who Want To Set Up Business In U.K.

Source: Bizztor

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