Rhone Restructures, Plots Activewear Expansion


Rhone sees itself among the giants.

Fresh funds. The activewear brand bought back PE firm L Catterton’s ~30% stake with capital from new investors, including pro sports team owners and athletes.

Rhone says the deal—closed discreetly in July 2022—frees it to pursue mission-driven growth without pressure to IPO. And, it signifies self-belief as a major, long-term contender in the apparel space.

Scaling up. Founded as a men’s-only brand in 2014, in recent years, Rhone became profitable, hit $100M in revenue, and grew its retail footprint.

Now, its restructured playbook will prioritize community, holistic wellness, and lifestyle, with an additional focus on mental health. And, it’ll expand into women’s wear with studio, lifestyle, and court collections next spring.

Standing out. As consumers seek lifestyle-aligned products, premium activewear retailers are in a race to differentiate — and dethrone Nike, adidas, and Under Armour.

  • Fellow mens-turned-everyone brand Vuori now sees 50% of sales from women, has 40+ global stores, and is rumored for a 2024 IPO.
  • Running shoe maker On is entering tennis, evolving into a sport-agnostic apparel brand.
  • Alo is going all-in on high-fashion as its wellness empire takes shape.

Meanwhile, niche newcomers like Tracksmith, Satisfy, and Bandit are attracting loyalty with indie vibes, strong values, and authentic communities.

Looking ahead: Choosing independence, Rhone’s repositioning as a purpose-driven lifestyle brand trades its foundational ethos for growth potential. But, if it can carve a clear identity, its access to influential investors and athletes offers an edge.

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