Castore, the British sportswear brand, remains determined to expand its business despite the challenging economic climate. Co-founder Tom Beahon believes that a strong brand and value proposition can thrive regardless of external challenges. In an interview with BusinessLive, Beahon stated that Castore has set its sights on the US market and views Castore ambassador Matt Fitzpatrick’s recent US Open win as an opportunity to propel its ambitions in the country. The brand has already seen a significant increase in website traffic following Fitzpatrick’s victory, resulting in a boost in global exposure.

Beahon emphasized that partnering with world-class athletes who win major tournaments is a crucial strategy employed by leading sportswear brands to establish brand equity. Castore seeks to challenge these established brands in the market, and the success of Matt Fitzpatrick serves as evidence that they are on the right track.

Despite the challenging economy, Beahon revealed that Castore is having a strong year and perceives external challenges as opportunities. He believes that other brands may become more risk-averse during difficult times, creating a chance for Castore to invest in growth and showcase its agility and flexibility compared to its competitors. Beahon acknowledged that there will be more challenges ahead and that the economic outlook may worsen, but he remains optimistic that brands with exceptional products can still achieve success.

Regarding international expansion, Castore plans to establish a US office and launch a localized US website by the end of the year. The company also intends to increase its investment in partnerships and marketing in America. Beahon revealed that the company is open to external investment within the next six months and is considering the possibility of listing the company on the stock exchange, although no decision has been made yet. Current backers of Castore include tennis star Andy Murray and the Issa brothers, who own Asda. However, the company may require additional funding to fulfill its ambitious growth plans. Castore is fortunate to be profitable and generate cash, enabling it to carefully choose when and where to raise capital. While a decision is expected by the end of the year, Castore wants to ensure that it takes the right approach and has not ruled out the idea of going public.

Useful Links:
1. Castore Official Website
2. BusinessLive