Rangers partners Castore are aiming to raise around $200m (£166m) as they show no signs of slowing in their ambitions for global domination.
The disruptor brand has emerged as a major player in the sports retail industry over the last few years and are now looking to get closer to the two biggest retailers in Nike and Adidas.
That’s according to Sky News, who claim that the Manchester-based retailer are in talks with investors as it looks to continue its progress as a sports retailer.
The report claims Castore have consulted with financial services giant Rothschild as they look to secure the funding with the company recently valued at £750m.
Castore are to be hoping this rises to £1bn after the latest round of funding as they look to secure significant investment with insiders claiming profits could top £30m this year.
Rangers partners Castore target global growth
Rangers signed a “long-term” deal with retailers Castore in 2020 as the retailer began to make waves across sports with partnership deals alongside Sir Andy Murray and F1 team McLaren.
Now the company has a wide range of partnerships across sport, including football, but Rangers was the first football club Castore ever signed a deal with.
That partnership has been huge for the retailer with both Rangers and Castore taking a risk to enter into it; the Gers having ended years of tumultuous boardroom struggles with Sports Direct and Castore a new player in the game.
The partnership has been a sizeable success to date, with Ibrox marketing director James Bisgrove praising the retailer as “phenomenal” and claiming the deal has “transformed” the club’s retail operations.
Since signing the deal with Rangers, Castore have now struck contracts with Newcastle United, Aston Villa and Wolves in the Premier League.
Castore also have retail contracts with Genoa in Italy, Sevilla in Spain and Bayer Leverkusen in Germany, whilst the retailer also has signed a deal with Feyenoord in the Netherlands.
Meanwhile, Scott Wright has been linked with a Rangers exit.