Adanola sells minority stake to LA based private equity firm
Adanola, the UK based womenswear brand, has sold a minority stake to a Los Angeles based private equity firm.
In a statement, the brand said the partnership with STORY3 Capital Partners marks an important milestone in its continued expansion and will enable it to strengthen its position in as a global leader in the activewear space.
Founded in 2015 by Hyrum Cook, Adanola has several high-profile supporters, including the likes of Kendall Jenner, Kaia Gerber, Veneda Carter and Rosie Huntington-Whiteley.
In June 2024, Adanola appointed former Gymshark chief commercial officer Niran Chana as chief executive to drive growth and lead overall strategy and execution.
Subscribe to TRBCommenting on the new investment, Chana said: “We’re thrilled to announce the investment from STORY3 which values Adanola at approximately $530 million.
“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”
Peter Comisar, founder and managing Partner of STORY3, added: “Adanola has garnered uniquely strong and authentic relationships with consumers, and we believe the business is in the early stages of powerful global growth.
“We are honoured to serve as a trusted partner to Hyrum and Niran given our long track record of supporting founders and entrepreneurial executive teams.”
Adanola’s direct-to-consumer model is complemented by a wholesale network that includes the Selfridges Group, David Jones, Ounass, Equinox and Soho House.
Looking ahead, Adanola said it will continue to prioritise digital channels whilst selectively growing its retail presence with long-term plans for its own-brand stores.
