Castore is UK’s second-fastest-growing company

Castore’s endless stream of kit deals suggests a company in fast-growth mode and that has now been underlined with the Andy Murray-backed brand making it to second place on the Sunday Times 100 2023 list of the UK’s fastest-growing firms.

It’s a big achievement with the newspaper saying that “the bar to achieve recognition on the Sunday Times 100 is higher than ever this year”.

To make the list, businesses have to have seen sales in their latest year of at least £5 million but not more than £250 million and to be profitable.

Castore was founded by brothers Tom and Phil Beahon in 2016 and saw its sales hitting £115 million in the year January with a rise of 285.8%.

It expects revenue to double again this year, and if that kind of growth continues, it puts it close to not being able to qualify for the ranking.

It has been winning a raft of kit deals and is official kit supplier for England Cricket, Oracle Red Bull Racing and three-times tennis grand slam winner Andy Murray (who’s also an investor, as mentioned). Other deals include Feyenoord Rotterdam, Newcastle United, Aston Villa, Wolverhampton Wanderers, Athletic Club Bilbao, FC Utrecht, FC Twente, and the Football Association of Ireland.

Given the size and importance of the fashion and beauty sectors, as well as their appeal to entrepreneurs, it’s no surprise that there are plenty more sector businesses on the list. 

Other fashion and beauty names nclude Chāmpo at number eight. The haircare brand was founded by Kuldeep Knox who drew inspiration from her grandmother’s ayurvedic remedies. Sales reached £8.9 million in the year to April, up 217.33%.

In ninth place is Passenger Clothing, the outdoor brand founded by Richard and Alexa Sutcliffe in 2012. Sales reached £18.6 million last year, up 205.28%.

Meanwhile, beauty and wellness brand LYMA Life is in 11th spot with three-year annual sales rising 199% to £23.2 million; AYBL Group sports-fashion  business is 15th with a 169% leap to £29.9 million; Craftd London (which is actually based in Cheshire) is 28th with a 121% rise to £18.4 million; luxury pen brand Scriveiner is 30th with a 117% rise to £5.5 million; Gift & Co gifting platform is 31st with a 115% jump to £23 million; and Snag, the hosiery retailer, is 32nd, rising 109% to £32.2 million.

Bolton menswear brand Represent is 37th, its sales rising 97% to £48.6 million; Fruugo online marketplace grew 90% to £65.5 million for 42nd spot; in 43rd place is jewellery and accessories maker Abbott Lyon with 87% growth to £30.4 million; skincare and haircare brand Grüum is 47th with 84% growth to £5.6 million; Jaded London is 55th with the fashion brand growing 74% to £19.7 million; Lounge Underwear is 61st with 70% growth to £68.5 million; and fashion label Me+Em is 63rd, also with a 70% leap to £82.1 million.

There’s more… fashion retailer Lucy and Yak is 72nd with 65% growth to £22.7 million; retailer Pretty Lavish is 74th, rising 64% to £8.5 million; footwear and accessories retailer Fairfax & Favor is 69th, up 61% to £35.5 million; and beauty devices retailer CurrentBody is 89th, jumping 55% to £59.1 million.

Finally, also making the list at number 100 is fashion brand Manière de Voir, which is soon to open a flagship store on Oxford Street in London. Founded by ex-Manchester City footballer Reece Wabara it has seen growth of almost 50% annually to £34.7 million. In fact, its 49.9% leap is seven percentage points higher than the minimum needed to get a place in the ranking.