Adanola has sold a minority stake to a Los Angeles-based private equity firm which focuses on “growth and long-term value creation”.
The retailer sold the minority stake to Story3 Capital Partners, which valued the UK-based athleisure brand at approximately $530m (£398.4m).
Adanola hailed the move as an “important milestone” in its expansion strategy, which is focused on growing its retail presence, expanding its digital channels and longer-term plans to open standalone stores.
Adanola chief executive Niran Chana said: “Adanola’s ascent has been fuelled by staying disciplined as a women’s product-first, active lifestyle brand. Across all areas of the company, we’ve curated the partners that support the vision of the brand.
“We’re thrilled to announce the investment from Story3 which values Adanola at approximately $530m. Story3’s deep experience for building consumer brands will be crucial as we continue to build sustainable, profitable growth across key markets and reinforce Adanola’s position as a leader in the consumer sector. I’m incredibly proud of what the Adanola team has achieved to-date, and we’re poised and ready for our next chapter.”
Adanola was founded in 2015 by Hyrum Cook. In June 2024, Adanola appointed former GymShark executive Chana as its new chief executive.
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