Off the back of a ‘hugely successful 2019’, Le Col, the British performance cycling apparel brand, has raised an additional £2.5 million from Puma Private Equity to further accelerate its growth plans in 2020.
Founded by ex-professional cyclist Yanto Barker in 2011, Le Col has been kit partner to two men’s and two women’s professional cycling teams in the 2019 cycling season. The British company is based in London but manufactures its kit in its own factory in Treviso, Italy – ‘an area renowned for expertise in high-performance sporting apparel and the latest technical materials.’
Part of Puma Investments, UK-based Puma Private Equity delivers funding to SMEs in all sectors around the UK – partnering with management teams to accelerate business growth. It previously invested £2.35 million into Le Col at the end of last year.
This year has seen Le Col continue to grow through a focus on product, marketing & e-commerce – with the business more than doubling its revenues in the first half of 2019 versus the previous year.
In July, it partnered with Clear Channel and Strava throughout the Tour de France to run a world-first out of home ‘challenge’ advertising campaign. Meanwhile a collaboration with Sir Bradley Wiggins that produced the ‘Le Col by Wiggins’ collection, which has reportedly gone ‘from strength to strength’ since its launch in early 2018. Other partnerships with Eurosport, Colnago, Sigma Sports and Wiggle have seen Le Col broaden its audience.
The new investment will provide the company with funds to ‘continue creating a truly global brand and accelerate its already successful growth strategy.’ Le Col will be stepping up its partnerships with the professional side of cycling on the world stage whilst also increasing its research and development into new technical advancements.
Yanto Barker, Le Col’s Founder, said “This investment marks another huge milestone in Le Col’s ongoing growth. I am pleased to have completed this raise with Puma Private Equity who continue their support and back us again to push to the next level, with so many exciting projects and plans for 2020 and beyond.”
Tommy O’Sullivan, Managing Director at Puma Private Equity, who joined the Board of Le Col last year, added “Le Col is in an extremely exciting position, having achieved explosive growth over the last twelve months. We expect its proposition of performance-led excellence, energy and passion for cycling to continue to drive the business forward in the years to come.”