British cycling brand Le Col secures £2.3m investment
The deal also involves the opportunity to increase investment to £3.5m, and the arrival of Tommy O’Sullivan, private equity firm’s managing director Tommy O’Sullivan, to Le Col’s board.
Le Col, which competes with Rapha in the technical performance cycling wear market, recently partnered with Bradley Wiggins, Britain's first Tour de France winner, on a sports range. Wiggins also moved his Team Wiggins kit from Rapha to Le Col in 2018.
The brand seems to be on a high at a time when other UK retailers are struggling, with e-commerce sales increasing seven-fold in 2018 and overall revenues expected to treble.
Founder Yanto Barker said the investment will allow Le Col to become a “truly global brand” and accelerate its growth strategy. “We are delighted to welcome Puma Private Equity on board; their support will be key in facilitating the next phase of Le Col’s growth. The gains we’ve made in 2018 have been exceptional and this investment will be instrumental in taking our market leading product to a global cycling audience,” he said.
Tommy O’Sullivan from Puma Private Equity added: “Guided by Yanto’s performance insight, design expertise and drive for perfection, Le Col is becoming the go-to brand for cyclists looking for the best kit. Our investment will support the team to leverage the explosive growth it has achieved over the last 12 months, ensuring Le Col continues on its exciting journey.”
Copyright © 2021 FashionNetwork.com All rights reserved.