Castore, a rapidly expanding sportswear brand backed by tennis champion Andy Murray and Asda owners, has announced impressive sales and profit growth in its most recent financial year. The Manchester-based company reported a remarkable increase in turnover, from £17 million to £48.8 million in FY22, resulting in a gross profit of £35.37 million compared to £11.76 million the previous year. Alongside this, operating profit rose from £2.99 million to £8 million, and pre-tax and net profit also experienced significant growth.

The success of Castore can be attributed to its strategic expansion efforts, which include opening new stores and developing its online operations. Furthermore, the brand has successfully formed partnerships with various sports teams, allowing it to create branded clothing and accessories that appeal to a wider audience. Recent collaborations with Oracle Red Bull Racing and McLaren have provided Castore with a global platform to showcase its products, while partnerships with prominent sporting teams in football, cricket, rugby, and athletics have further bolstered its brand awareness and desirability.

Looking forward, Castore has outlined its priorities for digital growth and ongoing partnerships with world-class sports teams to enhance its brand identity. The company also aims to expand its wholesale channel and establish a stronger international presence. As part of its growth strategy, Castore significantly increased its workforce from 38 to 174 employees during the year, making noteworthy investments in product development, data analytics, and brand building.

These encouraging financial results clearly demonstrate Castore’s ability to thrive in a competitive market. With its steadfast commitment to creating high-quality products and leveraging strategic partnerships, the brand is well-equipped to continue its upward trajectory and maintain its position as a leader in the sportswear industry.

Here are two relevant links for further information on Castore:
1. Castore Official Website
2. Reuters Article on Castore’s Growth and Andy Murray’s Involvement