Represent has been much in the news of late for its high-profile collabs and physical retail expansion and the news flow continued on Monday as it announced that innovation-focused investment firm True has taken a minority stake in the menswear business that’s gearing up for a womenswear debut next year.

The “exciting strategic partnership” is design to “accelerate Represent’s growth and global expansion”. It will “fuel the brand’s presence in both luxury and performance sportswear, expanding its reach in the UK, US, and Rest of World”.

The still-young company is already something of a growth engine with a compound annual growth rate (CAGR) of 64% since 2020 and it also delivering double-digit profit margins.

It expects to generate around £100 million in revenue by the end of this fiscal year as it mines a rich seam of consumer interest in both luxury and performance sportswear. And it said the performance-driven ‘247’ line “has exceeded all expectations since its launch in 2021”. 

We’re told that True “will leverage its considerable expertise in the consumer sector to enable Represent to further scale its operations, expand into new channels, and accelerate growth across multiple categories. This strategic partnership is a powerful catalyst for Represent’s continued success”.

“We’re gaining unstoppable momentum, and with this minority investment and strategic partnership with True we feel it’s the perfect time to propel Represent to new heights” said the fashion firm’s co-founder George Heaton. Co-founder Michael Heaton added: “The mission continues and we feel like we’re just getting started.”

Represent CEO Paul Spencer also said the company has “always selected our partners based on the strength of their team, and this partnership is no exception. From a business standpoint, we see growth opportunities across every area—geography, category, and gender. We’ve built an exceptional team who are working tirelessly on exciting initiatives across the board, including the highly anticipated launch of womenswear in 2025. The future holds incredible potential, and we can’t wait to see what’s next.”

Ejike Onuchukwu is investment director at True and now a board member at Represent, called the company “a real success story for British fashion. The team’s track record of developing culturally relevant products and acquiring loyal customers to the brand, despite the challenging consumer environment, is remarkable. I look forward to supporting the management team and Founders to help achieve its significant expansion potential”.

And Paul Cocker, CEO and co-founder of True, highlighted how “there are very few brands that are thriving in the current environment and we’re looking forward to supporting a team with so much energy and passion during the next phase of the Represent journey”.

Founded by the Heatons and led by CEO Spencer since 2022, Represent scaled up quickly to serve over 350,000 customers online in 2023 while also boasting a growing list of high-end wholesale partners. It only moved into direct retail this year with it choosing to first open a luxury boutique in West Hollywood, Los Angeles, rather than in its domestic market the UK.

But it followed this with a flagship store in its hometown of Manchester on New Cathedral Street, and a West End of London store is set to open in Summer 2025. 

Its recent collaborations have included Puma, Belstaff, and Oasis, while its ‘247’ roster of ambassadors has grown to include “some of the world’s highest performing Hyrox athletes”.