Sweaty Betty, the women's activewear retailer based in the U.K., 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.”
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.
