Castore considers stock market float to take on Nike and Adidas

Castore, the British sportswear brand, is considering floating on the London Stock Exchange after reporting its strongest-ever sales performance during the Golden Quarter.

During the festive period, Castore's revenues grew by 16% year-on-year. The company said the "sportswear market remained more resilient than other retail segments" as consumers continued to prioritise their health.

Now, according to The Telegraph, the sportswear brand is looking towards its long-term goal of a stock market flotation.

Castore's co-founder, Tom Beahon, said: "I very much focus my time and energy on building the best brand and business that I can because if we do that there’ll hopefully be some exciting options for us from a capital event — an IPO is one of those options.

"As a proud British entrepreneur, I would love to be able to IPO the business in London but there’s nothing on the immediate cards on that front."

Founded in 2015 by brothers Tom and Phil Beahon, Castore is a premium sportswear brand redefining athletic apparel. Since its founding, the brand has grown rapidly to become a £950 million business.

Beahon added: "More nascent challenger brands have come into the market. Castore is in that cohort, Gymshark is in that cohort and customers are willing to try new brands that are not the Nike swoosh or the Adidas three-stripe."

Not only is the retailer looking to float on the London Stock Exchange, but it’s also focusing on expanding its presence overseas. In December, Castore appointed Danny Downs as its Chief Commercial Officer to strengthen its executive team amid expansion.

"We are optimistic about 2025 despite the macro-economic uncertainties and are forecasting continued profitable growth both in the UK and international markets", concluded Beahon.