Looking for even more shops to feed your Lycra leggings obsession?
Premier London-based activewear brand Sweaty Betty received a “significant growth investment” this week that it intends to use to expand its presence across the United States, where the market for chic gym wear is growing at an incredible rate.
The investment (the terms of which were not disclosed) came from Catterton, the same private equity firm that recently invested in Flywheel and CorePower Yoga. (As in, the team over there obviously has some big plans for the wellness world.)
While Sweaty Betty was created more than 15 years ago and is the go-to fitness fashion brand for Brits, with 40 stores across the UK, it only recently arrived stateside, with just two stores in Soho in New York City and Greenwich, Connecticut.
“Chip [Wilson, Lululemon’s founder] invented the category in North America. We believe we invented the category in the UK. From day one, we had the vision everyone is talking about now,” says co-founder and CEO Simon Hill-Norton. “Now, we fully intend to take our place in the American market. We love the American customer—she’s our dream customer.” (Aw, thanks!)
Simon Hill-Norton will continue to run the company with co-founder and creative director Tamara Hill-Norton, and they’re currently searching for someone to head up the expansion on this side of the pond. “We need a superstar president in the US to make sure our brand is properly translated for the US market.” So, you know, if you happen to know anyone… —Lisa Elaine Held
For more information, visit www.sweatybetty.com