- Huw Hughes |
London-based sports retailer WIT Fitness has received a 2 million pound cash injection from growth capital investor VGC Partners.
The brand, which was founded by former amateur athlete Dan Williams and sports retail expert Sam Kitching in 2015, currently operates as an online platform in the UK and US, selling products from brands such as Nike, Adidas and Under Armour.
More recently, the company has launched an exclusive partnership with Reebok and expects to launch four more collaborations this year. In 2018, the brand opened the WIT Training Hub, a retail-gym hybrid store, at London St Paul’s.
“Sneakers have become a pop culture phenomenon in recent years, led by the rise in celebrity endorsements and brand collaborations,” managing partner at VGC Partners, Parminder Basran, said in a statement.
2 million pound cash injection to help grow retail and gym concept
“A core strength of WIT Fitness is that it connects to its affluent customer base via social engagement, enabling it to attract high profile brand partnerships and build links to the athlete community.
“It has already proven that there is an immediate international opportunity in the US and continental Europe through its US and European ecommerce websites."
Founder of WIT Fitness, Dan Williams, added: “We definitely see ourselves as a disruptor in the sports retail industry. We have taken traditionally dull bricks and mortar and turned it into an activation and training space that is recognised globally by the training consumer – a model we aim to roll out into other territories with VGC.
“Alongside these touch points, we will relentlessly pursue progress on our ecommerce and social platforms, working with our brand partners to do so.”
Photo credit: WIT Fitness, Facebook