Discover the dynamic duo fueling the rise of Montirex, a formidable competitor to Castore.
Rebranding Sports Gear: Montirex Takes Aim at Rivals like Castore
Montirex, the sportswear brand born from the friendship of two entrepreneurs, is plotting a major leap in sales and profits this year, aiming to challenge industry giant, Castore. The Liverpool-based business projects an impressive £130 million turnover for 2025, up from £76.7 million last year and £33.4 million in 2023.
The company's pre-tax profit is also set to hit almost £34 million this year, up from £20.8 million in 2024 and £3.5 million in 2023. Established six years ago by Daniel Yuen and Kieran Riddell-Austin, Montirex plans to expand into Europe within the next three years.
Is Montirex ready to square up against Castore?
Montirex is aiming to join the ranks of success stories like Castore, another apparel brand that shares its Merseyside roots. Founded in 2016 by two Merseyside brothers, Castore is now valued at approximately £1 billion, boasting partnerships with top-tier sports clubs and F1 teams [1].
In October 2024, Castore's turnover surged from £115 million to £190.3 million in the year to February 4th, 2024, despite a shift from a pre-tax profit of £14.6 million to a pre-tax loss of £28.8 million [2].
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Montirex's staggering growth spurt
Kieran Riddell-Austin, Montirex co-founder, credits the brand's astonishing growth to its customers' loyalty and the desire to provide an affordable, stylish alternative to high-priced sportswear manufacturers that compromise on quality [1]. The increased headcount, now over 100 employees, reflects Montirex's rapid growth in the past year alone.
"Each step along the way has created new jobs," Riddell-Austin stated, expressing pride in the growing team and the strong workplace culture that Montirex has cultivated [1]. Balancing performance and affordability has proved to be an effective strategy for Montirex, one that seems to be working well for the burgeoning brand.
The DIY Approach: Founders remain the sole shareholders
Unlike Castore, Montirex has achieved its success without any external investment. Daniel Yuen, Montirex's other co-founder, attributes this independent growth to the continued learning and refinement of the business over time, from upgrading the quality assurance team to sourcing sustainable materials and ethical production standards [1].
Montirex's founders maintain 100% ownership of the company, a testament to their commitment to preserving the brand's integrity and pursuing its vision. In contrast, Castore's shareholders include notable figures such as Sir Andy Murray, the billionaire Issa brothers, and Arnaud Massenet, the co-founder of Net-a-Porter [1].
[1]: Enrichment Data: Overall: Growth and Financial Performance Comparison; Future Expansion Plans; Market Context.
[2]: Data Source: City AM (October 2024).[3]: Enrichment Data: Market Trends and Opportunities.
Montirex, with its impressive growth and focus on both affordability and quality, is positioning itself to challenge investors seeking lucrative opportunities in the sportswear industry, beyond established brands like Castore. Retaining full ownership and relying on internal improvements, Montirex aims to differentiate itself while expanding into new European markets.
