WIT Fitness, a London-based sportswear retailer, has secured an additional £1.5m in follow-on funding from growth capital investor VGC Partners after growing revenues by 56 per cent in the last year.
Activated by ecommerce, WIT Fitness sells high-quality branded training footwear and activewear apparel in the UK, US and Europe. It also operates a store in London St. Paul’s, which houses a state-of-the-art gym. The company was founded in 2014 by former athlete Dan Williams and sports retail expert Sam Kitching.
During 2019, WIT Fitness opened a series of pop-up stores, including a Nike collaboration store in Paris, a pop-up store at the CrossFit Games in Madison, and several others at other major events such as Wodapalooza, Miami. This activation has helped boost sales from the US and the company has since established a distribution centre in Houston, Texas.
The strength of WIT Fitness’ ecommerce offering has meant the company has continued to trade well throughout the UK and US lockdown period, achieving significant year-on-year growth multiples overall and particularly in the US.
Dan Williams, founder of WIT Fitness, said: “Our vision is to become the global authority on training footwear and apparel and we are well on our way to achieving this mission. The work we are doing with the world’s biggest brands such as Nike and Reebok sets us apart from the competition, and our strong ecommerce offering has helped us get a foot in the European and US markets. With further backing from VGC Partners, we can strengthen our e-commerce platform so that we can offer a truly best-in-class service to our customers, and we are striving for even stronger growth over the next 12 months.”
