Revolve Group, the fashion e-tailer, has invested Canadian 15 million (U.S.$10.5 mm) to acquire a minority stake in 437, the Toronto-based athleisure brand, with a goal of expanding the brand’s reach.
437 was founded in 2016 by college friends and co-chief executive officers Adrien Bettio and Hyla Nayeri, launching as a swimwear label before entering activewear in 2023. The brand designs pieces for Pilates, yoga, hot sculpt, strength training and everyday wear.
“We started 437 with the belief that activewear should feel as considered as the rest of your wardrobe,” said Bettio in statement. “Revolve understands how our customer dresses and lives, and this partnership lets us bring 437 to more women without compromising the brand we’ve built.”
The investment comes as Nayeri, in a recent LinkedIn post, noted that according to Retail Boss, 437 ranked as the leading activewear brand on Revolve based on total sales and units sold across 103 activewear brands on the platform. She said 437 is seeing an 80 percent 30-day sell-through rate compared to the category average of 43.5 percent, with five of Revolve’s top 10 activewear styles coming from 437.
Nayeri said in the post, “It’s surreal to think that Adrien Bettio and I started 437 in 2016 (we were 21 years old and still in University) with a small collection of swimwear, no outside funding, no fashion experience, and as first time business owners. Nearly 10 years later, this milestone belongs to our incredible team, our community, and every person who has worn, shared, supported, and believed in 437 along the way.”
Founded in 2003 by Co-CEOs Michael Mente and Mike Karanikolas, the company sells merchandise through two complementary segments, Revolve and FWRD, which share a single platform, and focuses on Millennial and Gen Z consumers. It operates three stores in Aspen, CO; Los Angeles, CA; and Aventura, FL.
Image courtesy 437
