Castore, the premium sportswear brand, has set an ambitious target to double its revenue by 2023. Despite the challenging retail environment, the company remains confident in its growth potential and aims to achieve a 100% increase in revenue compared to 2022, with a target of $250 million in sales.

One of the main factors behind this optimistic revenue prediction is the series of kit deals that Castore has secured with major sporting names. In addition to partnerships with UK teams, the company has recently collaborated with renowned European teams such as Feyenoord Rotterdam FC, Athletic Club Bilbao, Football Association of Ireland, FC Twente, and FC Utrecht. Castore has also hinted at more partnerships on the horizon.

Aside from these valuable kit deals, Castore’s growth is fueled by various other factors. The brand has launched new e-commerce platforms tailored to specific regions, tapping into the growing online shopping trend. Furthermore, Castore is expanding its physical retail presence with plans to open at least three stores in prominent European cities, including Amsterdam. This combination of online and offline strategies is expected to contribute significantly to the doubling of sales.

Castore’s mainline brand is also enjoying impressive organic growth. The company has secured partnerships with an increasing number of wholesale partners, including Fanatics, Very, Frasers Group, JD, Harrods, John Lewis, and Fenwick. These collaborations have helped expand the brand’s reach and increase its exposure to a wider consumer base.

Additionally, Castore’s collaborations with well-known sports personalities have further contributed to its success. The brand has worked with boxer Joe Joyce, Malaysian professional golfer Gavin Green, and three-times grand slam winner Andy Murray. These partnerships have not only bolstered Castore’s reputation but also attracted a loyal fan base.

Co-founder Tom Beahon has always envisioned Castore becoming the leading premium sportswear brand globally. While this may have seemed like a lofty goal in the past, the recent achievements of the company indicate that it is within reach. However, Castore acknowledges that it is still a smaller player compared to industry giants like Nike and Adidas. To bridge this gap, the company is focused on increasing consumer awareness, establishing close partnerships with sports teams and athletes, and driving organic growth through digital channels and innovative in-store experiences.

Beahon is excited about Castore’s trajectory and believes that the company has the necessary backing, liquidity, confidence, and exceptional performance sportswear to achieve its strategic goals. With its advanced engineering and unique technical fabrics, Castore is well-positioned to make a significant impact in the sportswear market.

Useful Links:
1. Castore Official Website
2. Castore Store Locations