Sportswear brand Castore has secured a new debt facility worth up to £20 million with NatWest, in a move that will support the company’s ongoing growth and expansion plans. NatWest, which has been a financial partner to Castore, praised the brand’s impressive growth trajectory. The co-founder of Castore, Tom Beahon, described this debt facility as a significant milestone for the brand, and emphasized that it aligns with their ambitious growth plans. He highlighted that Castore’s business model combines aspects of team sports and direct-to-consumer apparel, ensuring both high growth and low risk.

Chris Logan, senior director of corporate and commercial banking at NatWest, expressed admiration for Castore and expressed his excitement about securing this facility with the company. He acknowledged the exceptional financial performance of Castore and expressed a desire for a long-term partnership as the brand continues its remarkable growth trajectory.

Castore is on a mission to disrupt the sportswear market, which is currently dominated by a few global brands, and aims to become the top premium sportswear brand in the world by 2025. The brand believes that partnerships with leading sports clubs will be instrumental in achieving this ambition. Castore has already secured kit and sponsorship deals with prominent football clubs such as Newcastle United, Wolverhampton Wanderers, Rangers, and most recently, German Bundesliga club Bayer 04 Leverkusen. In addition, they have partnerships with McLaren Formula 1, England Cricket, and various rugby teams.

Castore was founded in 2016 by Tom and Phil Beahon, and has garnered support from notable investors such as Mohsin and Zuber Issa, the billionaires who own Asda supermarket giant, and tennis star Andy Murray. With their financial backing, Castore has been able to gain momentum and establish itself as a formidable player in the sportswear industry.

Overall, securing this new debt facility is a significant accomplishment for Castore as it provides them with the necessary financial resources to continue their impressive growth and work towards their goal of becoming the leading premium sportswear brand globally. With their innovative business model and strategic partnerships, Castore is well-positioned to disrupt the market and make a lasting impact in the industry.

Useful links:
Castore Official Website
NatWest Official Website