- Huw Hughes
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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
