Rhone, the premier men's activewear and lifestyle brand, today announced that it has received a significant growth investment from L Catterton, the largest consumer-focused private equity firm in the world. The investment was made from L Catterton's Growth Fund. Terms of the transaction were not disclosed.
Founded in 2014, Rhone offers a full line of style-driven men's activewear made from premium, innovative fabrics with exceptional performance qualities. The Company's high-quality materials, which are sourced from around the world, create clothing with extremely comfortable fits and category-leading performance characteristics, including anti-odor and anti-microbial properties. Rhone recently continued its disruption of the activewear category with the launch of GoldFusion, a proprietary and revolutionary new technology that infuses gold particles into the brand's high-performance fabrics, resulting in garments that are softer, safer, faster-drying, longer-lasting and odor-neutralizing.
The omni-channel brand has experienced tremendous growth since inception and has a loyal customer following that contributes to its category-leading position. Rhone also benefits from deep wholesale partnerships with a presence in influential retailers including Equinox, REI and Bloomingdale's.
"Given their strong retail expertise, significant history working with leading health and wellness brands and deep knowledge of the active consumer, L Catterton is the ideal partner to help us take the Rhone brand to the next level," said Nate Checketts, Rhone co-founder and CEO. "With a focus on premium, performance-based fabrics, we are filling a void in the activewear space that speaks directly to how the modern man lives, works and sweats."
"Rhone represents a compelling opportunity to invest in a differentiated and on-trend concept within men's activewear, a large and growing category," said Jon Owsley, Co-Managing Partner, L Catterton Growth Fund. "Rhone's approach capitalizes on several compelling trends including the emerging purchasing power of the millennial consumer, the shift toward casualization and the general disruption of longstanding retail models by digital and mobile purchasing. The Rhone team has created a truly unique and authentic brand, and we look forward to working with them to grow the Company into a dominant force in the activewear industry."
L Catterton has significant experience investing globally in premium apparel and lifestyle brands as well as in the health and fitness space. Current and past investments include Sweaty Betty, Hanna Andersson, Peloton, Pure Barre, CorePower Yoga, Snap Kitchen, Sandro & Maje, Pepe Jeans, ba&sh, Trendy International, El Ganso, Dondup, R.M. Williams and Rapsodia.
About Rhone
Founded in 2014, Rhone offers premium activewear engineered with principle, performance and progress for the modern man. Currently, Rhone is sold online at www.Rhone.com as well as in all Equinox locations, select REI and Bloomingdale's locations, Peloton Studios, and close to 150 specialty stores and gyms.
About L Catterton
L Catterton, formed in 2016 through the partnership of Catterton, LVMH and Groupe Arnault, is the largest consumer-focused private equity firm in the world, operating multiple funds out of seventeen offices across five continents. Since its founding in 1989, Catterton has leveraged its category insight, strategic and operating skills, and network of industry contacts to establish one of the strongest private equity investment track records in the middle market. L Catterton builds on this heritage and the strong track record of LVMH and Groupe Arnault's existing European and Asian private equity and real estate operations, conducted under the L Capital and L Real Estate franchises. L Catterton invests in all major consumer segments, including: Food and Beverage, Retail and Restaurants, Beauty and Wellness, Fashion and Accessories, Consumer Products and Services, Consumer Health, and Media and Marketing Services, as well as real estate projects anchored by luxury retail. L Catterton's investments include: Peloton, Restoration Hardware, CorePower Yoga, Sweaty Betty, Outback Steakhouse, Plum Organics, CHOPT Creative Salad Company, Mendocino Farms, Noodles & Company, PIADA, Hopdoddy, Vroom, Snap Kitchen, Frederic Fekkai, PIRCH, Build-A-Bear Workshop, Wellness pet food, Nature's Variety pet food, Kettle Foods, Odwalla, P.F. Chang's, Ba&sh, Sandro & Maje, CellularLine, Vicini / Zanotti, Cigierre, Gant, Nutrition and Sante, Pepe Jeans & Hackett, 2XU, Charles & Keith, Marubi, Bateel, Sasseur, Emperor Watch and Jewelry, Miami Design District and G6 in Ginza - Tokyo, to name a few. More information about L Catterton can be found at lcatterton.com.
