Castore Receives 145 Million Pound Investment to Help Spur Growth
Summary
To date, Castore has partnered with 50 franchises globally in a variety of sports including soccer, tennis, motorsports, rugby and cricket and teams such as McLaren F1; Oracle Red Bull Racing; England Cricket Board; Glasgow Rangers; Bayer Leverkusen; Feyenoord; Sevilla FC; Athletic Club (Bilbao); Saracens Rugby, and Republic of Ireland Football.We are delighted to have secured the backing of highly reputable equity partners that will add significant value to all aspects of Castores business model our team relationships, our sportswear brand and our omnichannel retail operations, said the brothers, who serve as co-chief executive officers of the company. We are confident these are the right investors to take us to the next stage of our growth, who share our passion for high-quality sports apparel, and, in addition to capital, will bring expertise and access to new markets.They added that the investment will give us the financial firepower to invest in our supply chain and enhance our data analytics capabilities.Jason Schretter, partner of The Raine Group, added, Castore is an insurgent sportswear brand that sits at the intersection of sports, premium brands, data analytics and e-commerce. Raine and our fellow coinvestors deep expertise across these industries helped us immediately understand the impact Castore can have on its clients. Castores differentiated combination of high-quality merchandise and data-driven technology solutions is the answer sports franchises need to unlock this massive opportunity. The brand, which counts tennis star Andy Murray among its shareholders, raised 7.5 million pounds from private investors in 2020.
Funding
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