VGC injects £2m into WIT Fitness

WIT launched a so-called "training hub" in London in 2018, which combines a flagship store with a gym. The fresh capital will enable the company to launch other such sites in cities including New York, Barcelona and Los Angeles.

According to a statement, WIT has increased its revenues by 60% year-on-year. The statement also revealed that the company has agreed four collaborations with spors brand manufacturers to be announced by the end of 2019.

Spyder Active Sports CEO Nick Adcock, formerly global president of DC Shoes, has been appointed independent chairperson of WIT as part of the deal.

Company
Founded in 2015 and headquartered in London, WIT is an online retailer of sportswear and an operator of premium gyms. The business sells footwear and apparel of its own brand and others. It has also recently undertaken a collaboration for the launch of a WIT-branded Reebok trainer.

People
VGC Partners – Parminder Basran (managing partner).
WIT Fitness – Dan Williams, Sam Kitching (co-founders).

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• Topics
• Expansion
• UK / Ireland
• Consumer
• United Kingdom