Hoodie brand GYM+COFFEE raise €17M to accelerate international growth
Irish hoodie brand announced €17m (£14.3) in new funding led by Castlegate Investments, a growth focussed family office, headed up by Roy Barrett on behalf of serial entrepreneur, Tommy Kelly with additional funding from West. Ventures, a Palo Alto, CA investment and marketing firm.
This latest investment will allow Gym+Coffee to propel its growth into new markets like the UK and Germany (Europe’s largest athleisure market) and endorses the strength of the Gym+Coffee brand to further accelerate its momentum as one of Europe’s fastest-growing athleisure brands.
Gym+Coffee was founded by Niall Horgan, Diarmuid McSweeney and Karl Swaine in 2017.
Since 2019, Gym+Coffee has seen growth with its retail footprint growing to 12 stores, headcount reaching over 200 and a 15-fold increase in annual sales over the same period. Growth to date has been supported by a €4m capital raise, focussed on internationalising the business. Notable shareholders include pop star Niall Horan, rugby legend Brian O’Driscoll and the Davy EIIS fund.
The brand has gained a vast and loyal customer base due to its authentic approach to community building, an engagement programme consisting of over 300 events, high quality products and most notably its support of women in sport.
Following a brand ambassadorship program tapping leading athletes such as professional footballers Rachel Corsie and Jodie Taylor, and cricketers Danni Wyatt and Tammy Beaumont, the brand have further cemented its drive to spark conversation around the subject with the recent announcement that they are an official partner to Aston Villa Women’s Football Club, joining forces to change perceptions and inspire the next generation.
Niall Horgan, CEO of Gym+Coffee said: “It’s been a rollercoaster for 5 years and we are really proud of what we’ve achieved so far. We have built a strong foundation, but we know we have loads to improve on to become a global player in this space. We have huge ambitions for Gym+Coffee. Our team and community have given us so much support to date and we want to make sure we match that support with a relentless drive to grow our business in a way that makes us and them proud.”