UK activewear brand Sweaty Betty has received investment from US-based private equity firm Catterton to support its expansion in key markets, such as the US.
The founders, creative director Tamara Hill-Norton and chief executive Simon Hill-Norton, will continue to lead the company.
Terms of the investment from Catterton have not been disclosed.
The womenswear retailer, which has more than 40 boutiques in the UK including concessions in Harrods and Selfridges, already has a growing sales presence in the US via two stores, an ecommerce site and seasonal catalogues.
“We are thrilled to partner with Catterton to build globally on the strong enthusiasm that women have expressed for the Sweaty Betty brand since we opened our first boutique in 1998,” said Simon Hill-Norton.
“Catterton has an unparalleled record of helping other retail and consumer companies, including health and wellness brands, to reach their goals. Catterton understands the consumer industry and importantly to us, they also share Sweaty Betty’s belief that fitness, fashion and lifestyle go hand-in-hand.”
Jon Owsley, a partner at Catterton, said: “Demand for women’s activewear in general, and for brands in the premium and ultra-premium segments in particular, is strong. Tamara, Simon and the entire Sweaty Betty team have created a true leader in the premium activewear category with a brand and differentiated product offering that is set apart for its cutting edge style, high quality and superior performance.
“We see a tremendous opportunity to build on these strengths and to extend Sweaty Betty’s reach in both new and existing markets.”