Castore secures £7.5m to support expansion

Co-founders Tom and Phil Beahon (L/R) with Andy Murray (C)

Sportswear brand Castore has raised £7.5m in funding to support its expansion into professional team sports, launch its footwear range and accelerate international growth.

The company hopes to be the official kit supplier of football teams from the UK Premier League, Spanish La Liga and German Bundesliga for 2021, and said it expects to sign its first deals in time for the new season.

It is also targeting endorsement deals with international rugby and cricket federations.

The capital comes from undisclosed private investors as well as Castore’s existing shareholders, including Net-a-Porter co-founder Arnaud Massenet; New Look founder Tom Singh; and Robert Senior, former chief executive of advertising agency Saatchi & Saatchi.

The news comes after Castore signed its first team-sports deal with Cricket West Indies in December 2019, which will see it become their official team kit partner from June.

Co-founder Tom Beahon commented: “These funds give us the firepower to expand into a number of exciting areas, including partnerships with some of the world’s most exciting professional teams.”