- Danielle Wightman-Stone |
British premium activewear brand Sweaty Betty has received a “strategic growth investment” from US-based private equity firm Catterton to support its growth and expansion in key markets, including the US.
Terms of the investment from Catterton have not been disclosed, although the statement did confirm that the founders, creative director Tamara Hill-Norton and chief executive Simon Hill-Norton will continue to lead the company.
The womenswear fitness retailer has more than 40 boutiques in the UK including concessions in Harrods and Selfridges, and it already has a growing sales presence in the US via two stores, an e-commerce site and seasonal catalogues. The retailer sells feminine designs across a diverse range of sports and activities including running, yoga, winter sports, dance and swimming. The brand has also recently collaborated with London Fashion Week designer Richard Nicoll on a 10-piece capsule collection that fused fashion and fitness.
Catterton invests in Sweaty Betty to support US growth
Commenting on the investment, Simon Hill-Norton said: “We are thrilled to partner with Catterton to build globally on the strong enthusiasm that women have expressed for the Sweaty Betty brand since we opened our first boutique in 1998.
“Catterton has an unparalleled record of helping other retail and consumer companies, including health and wellness brands, to reach their goals. Catterton understands the consumer industry and importantly to us, they also share Sweaty Betty’s belief that fitness, fashion and lifestyle go hand-in-hand.”
Jon Owsley, a partner at Catterton, added: “Demand for women’s activewear in general, and for brands in the premium and ultra-premium segments in particular, is strong. Tamara, Simon and the entire Sweaty Betty team have created a true leader in the premium activewear category with a brand and differentiated product offering that is set apart for its cutting edge style, high quality and superior performance.
“We see a tremendous opportunity to build on these strengths and to extend Sweaty Betty’s reach in both new and existing markets.”
Images: Sweaty Betty