Castore: Andy Murray sportswear brand backed by billionaires tops growth list
British sportswear brand Castore, which is backed by the likes of Sir Andy Murray and the billionaire Issa brothers, has been named as the UK’s fastest growing retailer.
The Manchester-headquartered company has topped the list from Retail Index which analyses revenue growth over a two-year period.
Based on the figures used for the ranking, Castore’s sales grew seven-fold from 2021 to the £115m it reported in the year to 31 January, 2023.
The new table comes after Morning Wire reported at the end of October that the brand’s revenue had increased to £190.3m in the 12 months to 4 February, 2024.
In the same accounts, which were filed with Companies House, it was revealed that Castore had fallen to a pre-tax loss of £28.8m after it had posted a pre-tax profit of £14.6m in the year before.
Castore’s results show that it incurred exceptional costs of more than £24.4m in the year which pushed it into the red.
However, even before taking into account those extra costs, the firm’s operating profit was slashed in the year from £16.5m to £399,148.
Moss Bros joins Castore in the top ten
According to Retail Index, the top ten fastest growing retailers in the UK are:
- Castore
- Harding+
- The Modern Milkman
- Assisi Pet Care
- Pelham Group
- J & A Beare
- Edgar Brothers
- Passenger
- Nobody’s Child
- Moss Bros
Orlando Martins, founder and CEO of Growth Index and ORESA, said: “The UK is a hotbed of innovation and creativity in retail, flying the flag globally from nimble start-ups through to some of our largest companies.
“Yet it rarely features in discussions about industrial strategy which, considering the heritage of much of our textile, fashion and luxury subsectors, is a missed opportunity.
“It’s time that changed. The companies on this list prove that savvy retailers can grow at great pace, creating jobs, building export markets and contributing revenues to the Treasury.
“They also demonstrate the social mobility long inherent to retail: this is a sector not only of great entrepreneurialism, but where some of our all-time great executives have risen from the shop floor to CEO.”