Sports retailer Castore has increased its revenue forecast for 2023, expecting sales to hit £200m ($250m), a 30% increase from its previous forecast and a 100% increase year-on-year. The company has attributed its growth to new kit deals with European football clubs such as Feyenoord Rotterdam FC, Athletic Club Bilbao, Football Association of Ireland, FC Twente, FC Utrecht and collaborations with high-profile sports people including Andy Murray.
Sports retailer Castore has increased its revenue forecast for 2023, expecting sales to hit £200m ($250m), a 30% increase from its previous forecast and a 100% increase year-on-year.
The company has attributed its growth to new kit deals with European football clubs such as Feyenoord Rotterdam FC, Athletic Club Bilbao, Football Association of Ireland, FC Twente, FC Utrecht and collaborations with high-profile sports people including Andy Murray.
Castore has also introduced new localised ecommerce platforms, grown its physical retail portfolio, adding a minimum of three stores across key European cities including Amsterdam while also securing a wider net of wholesale partners.
Castore co-founder Tom Beahon said: “Castore’s vision is to become the number one premium sportswear brand in the world. Right now, we’re focussing our efforts on boosting consumer awareness – developing close partnerships with sports teams and performance athletes and, driving organic growth of our mainline brands both digitally and within engaging new in-store environments.”
Beahon added: “This is a really exciting time for us. We’ve the backing, liquidity, confidence and more importantly, the best performance sportswear kit that makes the most of advanced engineering and unique technical fabrics, to realise our strategic goals.”
Sources: https://www.retailgazette.co.uk/blog/2023/05/castore-revenue-growth/
