Rhone Apparel receives significant investment from L Catterton
Men’s activewear and lifestyle brand Rhone Apparel announced on Thursday that it has received a significant investment from private equity firm L Catterton's Growth Fund. The terms of the deal were not disclosed.
Founded in 2014, Rhone Apparel offers a full range of men’s activewear including the recently launched GoldFusion collection that infuses gold particles with high-performance fabrics. The Stamford, Connecticut-based brand is currently stocked at retailers Equinox and Peloton Studios and select locations of Bloomingdale’s and Rei. Rhone also operated pop up locations in New York City’s SoHo neighborhood and Chelsea Piers.
L Catterton considers Rhone Apparel to be a “compelling opportunity” for its "differentiated and on-trend concept" in the men’s activewear market. Jon Owsley, Co-Managing Partner, L Catterton Growth Fund, said, "Rhone's approach capitalizes on several compelling trends including the emerging purchasing power of the millennial consumer, the shift toward casualization and the general disruption of longstanding retail models by digital and mobile purchasing.”
The investment from L Catterton is not the first for the activewear brand. Rhone received a $5 million Series A investment in September 2015.
L Catterton possesses much experience with health and fitness brands, as well as premium apparel and lifestyle brands. The private equity partnership between Catterton, LVMH and Groupe Arnault has invested in several brands including Sandro & Maje, Pepe Jeans, Sweaty Betty, Hanna Anderson, and recently Tula skincare.
"Given their strong retail expertise, significant history working with leading health and wellness brands and deep knowledge of the active consumer, L Catterton is the ideal partner to help us take the Rhone brand to the next level," said Nate Checketts, Rhone co-founder and CEO. "With a focus on premium, performance-based fabrics, we are filling a void in the activewear space that speaks directly to how the modern man lives, works and sweats."
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