Sustainable activewear brand TALA has just raised over €5 million to bring its range to the masses. The oversubscribed round was co-led by Active Partners and Venrex, with Pembroke VCT, as well as angel investors including Nicola Milner (CEO & Founder, Deciem), Michelle Kennedy (CEO & Founder, Peanut) and Simon Mottram (Founder, Rapha) also getting in on the action.
Female-founded by fitness entrepreneur Grace Beverley, TALA is on a mission to bring a blend of sustainability, high-performance, style and affordability to the activewear market.
Sustainability is the hot topic of the year, and the sustainable fashion movement is picking up pace worldwide. However, one area of the market has been left underserved – activewear. The options for conscious consumption of activewear has been somewhat lacking to date and consumers are left having to choose between affordability, performance and sustainability.
Rental or pre-owned alternatives, which have been popular in the wider fashion industry, don’t hold the same appeal when it comes to fitness, and the few genuinely sustainable brands on the market come with eye-watering price tags.
The potential for this market of affordable, conscious activewear, though, is massive. Enter TALA – born in 2019 with the vision to bring sustainability to consumers without the price tag, making conscious consumption more accessible
The London-based startup’s brand is already hugely popular. The products and packaging are made with upcycled, recycled and natural materials, and the brand has a strong focus on ethics, sustainability and transparency at every stage of production.
Grace Beverley, CEO and Founder of TALA said: “TALA is a labour of love. I founded the business out of a genuine passion to help as many people as possible to shop more sustainably, without compromising on quality or price. I’m incredibly proud of – and grateful for – the amazing community we’ve built in the past two and a half years, and I cannot wait to see what we can achieve as we continue to grow our TALA community around the world. Sustainability is the future of business, and I’m thrilled to have found investors in Active and Venrex who not only champion our mission but are genuinely aligned with our values and approach.”
TALA’s most recent collection, DayFlex, saw over £370K in revenue within two hours of launch, with top-selling styles selling out within 10 minutes.
The company today has a team of 12 employees, and a majority-female board (66%) and cap table (71%). The latest investment will be used to further TALA’s mission and growth, including investing in product inventory, recruiting best-in-class talent and fueling the brand’s international expansion.
via https://www.AiUpNow.com
February 2, 2022 at 07:06AM by contact@bcurdy.com, Khareem Sudlow
