Activewear brand Varley has secured $5m (£3.9m) investment to drive new growth through expanded distribution, new product ranges and expansion into new markets across Asia.
The funding comes from Lavendo Investments, owned by Ron Dennis, the former chairman and CEO of McLaren Technology Group, and Brightfolk A/S, owned by CEO of Bestseller Anders Holch Povlsen.
Dennis will join the Varley Board to support founders Ben and Lara Mead.
The investment will be used to strengthen Varley’s management team, and the business already in talks with some senior candidates. It also plans to develop its ecommerce offer further, strengthen its distribution and create new ranges including ski and travel collections.
Since being founded in 2017 the business has recorded strong growth in Europe and the US. Sales for the year to September 2019 have risen to $8m (£6.2m).