Activewear brand TALA, founded by Grace Beverley in 2019, is set to receive a significant funding boost this week. The company has secured a £5m investment from a group of top investors, including Pembroke VCT, Venrex, and Active Partners. All three of these investors were already shareholders in TALA.
Under the leadership of Ms. Beverley, TALA has gained a strong following, with nearly half a million followers on their Instagram account. This success highlights the shift in how consumer brand-owners are reaching their customers, with social media becoming a dominant platform. The new funding will support TALA’s expansion into international markets, starting with the United States, where the brand has already seen significant traction on social media and with customers.
In addition, TALA plans to explore the possibility of establishing a physical retail presence on the high street, a first for the brand. Based in London, TALA has experienced a tenfold increase in monthly revenues since its last round of fundraising three years ago. Its products are now sold in all Selfridges stores in the UK.
Ms. Beverley expressed her excitement about the funding, stating, “This is an incredibly exciting milestone in TALA’s growth.” She also noted that the brand remains “proudly women-founded and women-run,” with a majority of leadership and board positions held by women. This sets TALA apart from many other women’s businesses, as only 2% of VC funding in the UK goes to female-founded companies.
The athleisure market, in which TALA operates, is experiencing significant growth. Data from Precedence Research suggests that the global market, which was valued at over $360bn last year, is expected to reach $880bn in sales by 2033.
TALA’s impressive growth and the success of its founder have not been without challenges. In May, the brand faced criticism from the advertising watchdog for six social media posts that were deemed to have breached advertising rules. However, the company disputed this verdict.
TALA’s CEO, Morgan Fowles, highlighted the significance of this new funding round, particularly given current liquidity constraints in private funding markets. She stated, “We experienced first-hand that raising three years ago was a powerful unlock to growth, allowing us to scale faster, take calculated risks, and benefit from a network and shared resources across the portfolio companies.”
Pembroke VCT was also an investor in Me+Em, the fashion brand that gained attention when one of its dresses was worn by Victoria Starmer, the wife of the new prime minister, on the morning after the general election. Andrew Wolfson, CEO of Pembroke VCT, expressed confidence in TALA’s potential, stating, “This investment will enable TALA to accelerate its expansion, enhance its product range, and strengthen its global market position.”
He also noted that the global athleisure market is ripe for disruption from young, bold entrepreneurial brands, and TALA is well-positioned to lead the way. With this new funding, TALA is poised to continue its success and make a significant impact in the athleisure market.
