Unite with the dynamic duo fueling the rapid expansion of Montirex, a brand challenging Castore's dominance.
Rewritten Article:
Forge ahead with a swagger, Montirex - a homegrown sportswear brand - is on a roll, foreseeing a colossal leap in sales and earnings this year as it aims to out muscle rival Castore.
Originating from the direstraits of Liverpool, this upstart business expects a whopping £130 million turnover by 2025, surpassing the £76.7 million it racked up last year and the £33.4 million it notched up in 2023.
Montirex isn't just bragging about profits, it's also predicting its pre-tax profit will hit almost £34 million this year, up from £20.8 million in 2024 and a meager £3.5 million in 2023.
This power duo, Daniel Yuen and Kieran Riddell-Austin, brought the brand to life six years back, and they're devising plans to spread their wings across Europe by 2028. North America isn't far behind their sights, as they set their targets for a 2030 breakthrough.
Can Montirex take down Castore?
Montirex positions itself as the underdog hoping to emulate the success of fellow apparel brand Castore, another Merseyside-born powerhouse.
Castore, founded in 2016 by two enterprising brothers, is now estimated to be worth a cool £1 billion. The brand has struck lucrative partnerships with top-flight sports teams and Formula One outfits.
In October 2024, City AM reported that Castore's turnover ballooned from £115 million to £190.3 million in the year to 4 February, 2024, while it went from a pre-tax profit of £14.6 million to a pre-tax loss of £28.8 million.
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Montirex more than doubles staff in a year
Kieran Riddell-Austin, Montirex's co-founder, commented on the brand's success, "We launched Montirex to counteract the trend of big brands compromising on quality while hiking up prices for their sportswear. We were convinced we could offer a cost-effective and stylish alternative."
"Our customers have stuck by us through thick and thin, backing our vision and propelling us to new heights," he continued. "Montirex has skyrocketed, creating countless jobs, growling from two employees to over a hundred in the past year alone."
As it has ascended the corporate ladder, Montirex has fostered a positive work environment while expertly striking a balance between performance and affordability, a strategy that has clearly paid off.
Montirex stands alone atop the mountain
Daniel Yuen, Montirex's other co-founder, acknowledged the brand's success, asserting, "We've achieved all of this without any investors. We've learned immensely throughout the process, continually striving to enhance our quality control, work with sustainable materials, and uphold ethical manufacturing standards."
In stark contrast, Castore's shareholders boast an exclusive roster of household names like Sir Andy Murray, billionaire brothers Mohsin and Zuber Issa, New Look founder Tom Singh, and PureGym co-founders Peter Roberts and Brian Scurrah. The likes of The Gym Group founder John Treharne, Eric Fellner, co-chairman of Working Title Films, and Arnaud Massenet, co-founder of Net-a-Porter, are also locked and loaded on Castore's side.
Insights:- Brand Overview: Montirex is a burgeoning Liverpool-based sportswear brand that has demonstrated impressive growth over the past six years, recently recording a turnover of £76.7 million. Montirex's founders, Daniel Yuen and Kieran Riddell-Austin, have steered the brand towards rapid expansion, with plans to introduce their products to European shops by 2028.- Competition: Montirex finds itself in a competitive market, squaring off against brands like Castore. Castore, while established as a powerhouse in the sportswear industry, has enjoyed high-profile partnerships with various sports teams and high-profile individuals. Both brands focus on performance, style, and affordability, but Montirex's success is more remarkable given its new arrival in comparison to Castore's decade-long existence.
- Montirex, with its eye on expanding its market share, aims to surpass major competitor Castore in the sports apparel industry, emulating the success of another Merseyside-born brand valued at £1 billion.
- Despite robust competition in the sports finance and investing business, Montirex is poised to outshine rivals with its projected £130 million turnover by 2025, following a steady growth trajectory from £33.4 million in 2023.
- While Castore accumulated high-profile partnerships with sports teams and Formula One outfits, Montirex prides itself on its homegrown success and commitment to business ethics, maintaining quality, affordability, and sustainable manufacturing practices.
- As Montirex enters new global markets and elevates its corporate status, it continues to prioritize nurturing a positive work environment, balancing performance with affordable business standards.
- Achieving steady growth without external funding, Montirex founders Daniel Yuen and Kieran Riddell-Austin remain focused on enhancing quality control, working with sustainable materials, and upholding ethical manufacturing standards as they aim to conquer the sports business landscape.
