Adanola secures investment from Story3 Capital Partners

British women’s athleisure brand Adanola is looking to drive growth and expansion in the US after receiving a “significant” minority investment from Los Angeles-based private equity firm Story3 Capital Partners.

Adanola, founded by Hyrum Cook in 2015, said the new strategic partnership marks an “important milestone” in its ongoing expansion strategy, as it looks to strengthen its position “as a global leader in the activewear space”.

The investment from Story3, which focuses on companies “at the nexus of consumer, commerce and content,” now values Adanola at 530 million US dollars. The capital will allow the activewear brand to accelerate global growth, while staying true to its DNA by refining product design and brand-first partnerships.

Adanola’s direct-to-consumer model is complemented by a curated wholesale network, including Selfridges, David Jones, Ounass, Equinox, and Soho House, and the womenswear brand said it would use the investment to prioritise digital channels, while also selectively growing its retail presence with “long-term” plans for its own-brand stores.

Adanola receives “significant” minority investment to fuel US expansion

Niran Chana, chief executive of Adanola, said in a statement: "Adanola’s ascent has been fuelled by staying disciplined as a women’s product-first, active lifestyle brand. Across all areas of the company, we've curated the partners that support the vision of the brand.

“We’re thrilled to announce the investment from Story3 which values Adanola at approximately 530 million US dollars. 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.”

Adanola has become known for its active lifestyle wardrobe, offering women the “ultimate everyday uniform” with a focus on elevated, versatile activewear that transitions between function and aesthetic. Its growth in recent years has been driven by its viral ‘ultimate leggings,’ which they have sold 1.5 million pairs of, alongside support from its celebrity fans, including Kaia Gerber, Veneda Carter and Rosie Huntington-Whiteley, as well as collaborations with model Kendall Jenner.

In June 2024, Adanola brought on Chana as CEO to drive growth and lead overall strategy and execution. He previously served as chief commercial officer at Gymshark, where he played a key role in scaling the business.

Samir Shah, partner at Story3, added: "With decades of experience around the consumer landscape, Story3 believes in the convergence of consumer brands, digital media, and technology to succeed in today's disrupted world and supports its investments to excel in each of those facets to create enduring value.

“We see extraordinary opportunities to support the Adanola team as it leverages its loyal customer base and revered products to continue to expand in its home UK market and within key growth markets including the US.”

Financial details of the deal were not disclosed.