Catterton has made an investment in women’s activewear brand Sweaty Betty. No financial terms were disclosed.
LONDON and GREENWICH, CT – February 6, 2015 – Sweaty Betty, a leading premium activewear brand whose purpose is to inspire women to find empowerment through fitness, today announced that it has received a strategic growth investment from Catterton, the U.S.-based leading consumer-focused private equity firm. Catterton’s capital investment will be used to support Sweaty Betty’s growth and expansion in key markets, including the United States. Sweaty Betty’s founders, Tamara Hill-Norton and Simon Hill-Norton, Creative Director and Chief Executive Officer, respectively, will continue to lead the Company. Terms of the investment were not disclosed.
Sweaty Betty is the leading premium women’s activewear brand in the United Kingdom. The brand also has a growing sales presence in the United States via two retail boutiques, e-commerce and seasonal catalogues. Sweaty Betty distinguishes itself with high-quality, cutting-edge fabrics, fashion-forward designs and outfit-building ranges which emphasize layering, distinctive color palettes and unique prints for multiple sports.
“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. Catterton’s investment and partnership with the Sweaty Betty team marks an exciting new milestone in our growth and development.”
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. We are excited to partner with the Sweaty Betty team through this investment.”
About Sweaty Betty
Born in the heart of London’s Notting Hill, Sweaty Betty has been ensuring style meets performance in women’s activewear for over 15 years. The brand’s mission is to “inspire women to find empowerment through fitness”. Sweaty Betty has over 40 boutiques in the United Kingdom, including concessions in world famous department stores Harrods and Selfridges, as well as two boutiques in the United States.
Sweaty Betty’s British-born founder Tamara Hill-Norton is renowned for fusing multi-sport performance ranges with on-trend fashion-forward aesthetics. As a result, Sweaty Betty is synonymous with innovative, feminine designs that help women excel across a diverse range of sports and activities. Exclusive fabrics, fully opaque leggings, reversible styles and statement prints distinguish the brand. Collaborating with top British designers, Sweaty Betty has featured on the London Fashion Week runway, putting the brand at the forefront of performance and style.
For more information, please visit sweatybetty.com
Catterton is the leading consumer-focused private equity firm with more than $4.0 billion currently under management and a twenty-five year track record of success in building high growth companies. Since its founding in 1989, Catterton has leveraged its category insight, strategic and operating skills, and network of industry contacts to establish one of the strongest private equity investment track records in the middle market. Catterton invests in all major consumer segments, including Food and Beverage, Retail and Restaurants, Consumer Products and Services, Consumer Health, and Media and Marketing Services. Catterton’s investments include: Restoration Hardware, Baccarat, PIRCH, John Hardy, Flywheel Sports, CorePower Yoga, Outback Steakhouse, Plum Organics, Mendocino Farms, Noodles & Company, PIADA, Frederic Fekkai, Build-A-Bear Workshop, Wellness and Nature’s Variety pet food, Kettle Foods, Odwalla and P.F. Chang’s, to name a few. More information about Catterton can be found at catterton.com