Castore sports plans to double its turnover in 2023
Italian version of
May 3, 2023
After announcing several endorsement deals with big names in sports, British sportswear brand Castore has announced an ambitious sales target for the 2023 financial year. This may seem surprising given the current challenging retail environment. But the company expects a 100% increase in sales compared to 2022.
The company had previously projected a sharp increase in revenue this year, but revised its forecast again by 30% to $250m (€226.6m), double sales in the period.
To illustrate this forecast, he cited recently signed endorsement deals as a key factor in this growth. In addition to a series of agreements signed in the UK, the company has also established contacts with new football clubs in Europe such as Feyenoord Rotterdam FC, Athletic Club Bilbao, Football Association of Ireland, FC Twente and FC Utrecht, with other agreements specified “to be announced soon”. .
Other factors contribute to this optimism, particularly the development of the physical store network, which will see no less than three new openings in major European cities, including Amsterdam.
In parallel, its parent brand continues to expand its wholesale partner network and is currently available through a number of strategic accounts, including Fanatics, Very, Frasers Group (Sports Direct and Flannels), JD, Harrods, John Lewis and Fenwick.
Recent collaborations with sports personalities have also had a positive impact, such as boxer Joe Joyce, Malaysian professional golfer Gavin Green and collaboration with three-time Grand Slam winner Andy Murray.
“It’s a very exciting time for us. We have the support, the money, the trust and, most importantly, the best selection of sportswear, making the most of cutting-edge engineering and unique technical materials, so we can achieve our strategic goals,” said Castore founder Thomas Behon.
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