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Sportswear brand Castore raises £3.2m

Premium sportswear brand Castore has raised £3.2m from private investors to help fund its push into Asia.

Funds have come from former Saatchi & Saatchi boss Robert Senior and Arnaud Massenet, the former husband of Net-a-Porter founder Natalie Massenet.

The new funds will be used to finance international expansion through online sales, particularly in the US and Asia, to expand its product range and strengthen its management team including appointing a COO and CFO. 

The brand will launch its first golf clothing collection in 2019. 

Castore was founded in 2016 by brothers Tom and Phil Beahon, who featured in Drapers 2017 30 under 30. It sells into 27 countries through its website. The company forecasts sales will rise to £2.7m this year, up from £750,000 in 2017.

Massenet said: “Founded by two formidable brothers with equal passion for sports and building a global technical sports brand. What’s not to love? I look forward to the journey and coming along for the ride.”

Senior said: “With its focus on technical engineering and premium design, Castore is a truly modern brand for truly modern athletes.”

Tom Beahon said: “We are delighted to get such an enthusiastic response to our fund raising and to secure the support of such high calibre investors. The money raised will help take us to the next stage in our development and step up our international presence.”

 In September 2017 several individual investors, including New Look founder Tom Singh, took part in a £1.2m fund-raising in Castore. 

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