Castore and Passenger among fastest growing private companies in 2023

Sportswear brand Castore and outerwear company Passenger Clothing have been listed in the top 10 of The Sunday Times’ round up for the UK’s fastest-growing private companies in 2023.

Manchester-based Castore came in second place, placing marginally behind recruitment specialist Join Talent.

The label, which works with a slew of sports firms on merchandise and clothing collaborations, saw its sales in the latest year hit 115 million pounds, while its compound annual growth rate (CAGR) was 285.8 percent.

Meanwhile, Passenger, a Hampshire-based company, reported sales of 18.6 million pounds, with a CAGR hitting 217.33 percent.

Castore, Passenger top fastest growing UK labels

Others that appeared in the list’s top 20 from the fashion and beauty industry included Lyma Life, Chāmpo and AYBL Group, a sportswear and fashion conglomerate.

The annual ranking, which identifies Britain’s 100 leading businesses, saw an average increase in sales of 104 percent year over the last three years for companies listed to a combined 3.2 billion pounds.

The media outlet also reported that in total these companies employ 15,160 people, and have created 10,500 new jobs in the last three years.

A record was also set for 2023, with 28 of the businesses having female founders or co-founders.

Speaking on the results, Jim Armitage, business editor of The Sunday Times, said: “The Sunday Times 100 is our annual celebration of the UK’s entrepreneurial achievements. The founders of these exciting businesses are vital job creators and innovators.

“The top 100 performed exceptionally during the pandemic and are proving resilient in the face of inflation, higher interest rates and a weaker domestic economy.”