Sweaty Betty has been sold for close to £300 million
Sweaty Betty has been sold for close to £300 million to US firm Wolverine Worldwide after demand for its ‘bum sculpting’ leggings and padded sports bras soared.
The brand, which counts celebrities such as Jennifer Aniston and Halle Berry (pictured) as fans, was founded in 1998 in London and has around 60 stores in the UK and Asia, and also sells from concessions in Selfridges, Harrods and department stores in the US.
The new owner, best known as a shoe manufacturer, has bought it from L Catterton, the private equity company co-owned by Bernard Arnault, boss of Louis Vuitton owner LVMH and the world’s richest man.
Sweaty Betty was boosted by the strong demand during the pandemic as women looked for comfy clothes for home and exercise.
It had already boosted sales to £79.9 million in 2019, up from £63.1 million in 2020, narrowing losses to £1.1 million from £4.2 million. The new owners may push Sweaty Betty into footwear, while its expertise could be used to boost other brands in Wolverine’s stable, including Merrell and Saucony.
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