Catterton invests in Sweaty Betty

The funding will primarily be invested in increasing Sweaty Betty’s presence in the US, where it currently has two stores and e-commerce operations.

The GP was attracted to the deal by the global growth in the women’s sportswear market and by the company’s brand recognition.

The deal is the latest in a trend of US investors turning to European assets, where money multiples remain lower than those across the Atlantic.

Despite its focus on womenswear, the Sweaty Betty brand is similar to Canada-based listed company Lululemon in its merging of sportswear with casual fashion. Lululemon has undertaken an international expansion strategy in recent years, targeting the European and Asian markets in particular. It posted a 16% revenue increase from $1.4bn to $1.6bn year-on-year throughout 2013 with gross profits rising 10% to $840.1 million from $762.8 million.

Company
Founded in 1998 and headquartered in London, Sweaty Betty is a retailer of women’s sportswear. The company, which launched a US site in 2011, has around 30 stores across the UK in addition to concessions in Selfridges and Harrods.

People
Jon Owsley is a partner at Catterton. Tamara Hill-Norton and Simon Hill-Norton are co-founders of Sweaty Betty.

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