Castore, the British sportswear brand backed by tennis champion Andy Murray, has been named the UK’s second-fastest-growing company on the Sunday Times 100 2023 list. Founded in 2016 by brothers Tom and Phil Beahon, Castore experienced a significant rise in sales last year, reaching £115 million with a growth rate of 285.8%. This achievement solidifies Castore’s position as a thriving business in the sports apparel market.
To be included on the Sunday Times 100 list, companies must have achieved sales of at least £5 million but no more than £250 million in their latest financial year, while also being profitable. With its rapidly expanding revenue, Castore is expected to double its sales once again this year. This impressive growth trajectory puts the brand on the verge of surpassing the ranking criteria.
Castore has secured high-profile kit deals, further establishing its reputation in the sports industry. The brand serves as the official kit supplier for several sports teams and athletes, including Oracle Red Bull Racing, England Cricket, and of course, Andy Murray himself. These partnerships have contributed to Castore’s growing market presence and cemented its reputation as a reliable and sought-after sports apparel brand.
In addition to Castore, the Sunday Times 100 list also features other notable fashion and beauty businesses. For example, Chāmpo, a haircare brand inspired by ayurvedic remedies, secured the eighth spot on the list with sales of £8.9 million and a growth rate of 217.33%. Passenger Clothing, an outdoor brand founded by Richard and Alexa Sutcliffe, occupies the ninth spot with sales of £18.6 million and growth of 205.28% in 2022. LYMA Life, a beauty and wellness brand, ranks 11th with a three-year annual sales increase of 199%, while AYBL Group, a sports-fashion business, sits in 15th place with a sales leap of 169% to £29.9 million.
The inclusion of these fashion and beauty brands on the Sunday Times 100 list demonstrates the significance of these sectors in the UK’s entrepreneurial landscape. It is clear that there are ample opportunities for growth and success in the fashion and beauty industries, offering exciting prospects for aspiring entrepreneurs and established businesses alike.
The rapid growth exhibited by these companies showcases their ability to adapt to consumer demands and deliver innovative products and services that resonate with customers. Whether it is fashion labels, outdoor gear, or haircare brands, the diversity of businesses on the list underscores the dynamic nature of the UK’s entrepreneurial ecosystem.
Castore’s achievement as the second-fastest-growing company in the UK highlights the brand’s exceptional performance and strategy within the sports apparel market. With its impressive revenue growth and prestigious partnerships, Castore continues to reinforce its position as a key player in the industry. As the company pursues further expansion, it will be interesting to see how it innovates and meets the evolving needs of athletes and sports enthusiasts.
The Sunday Times 100 list serves as recognition for the most promising and successful businesses across various sectors in the UK. The inclusion of fashion and beauty brands alongside companies from other industries showcases the vibrancy and potential of the country’s entrepreneurial scene. As these businesses thrive, they not only contribute to the economy but also enhance the country’s reputation as a hub for innovation and creative excellence.
Useful links:
1. Castore official website
2. The Sunday Times 100 list
