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Luxury brand Represent has sold a minority stake to investment and innovation firm True to accelerate its growth and global expansion.
To help continue the brand’s success, True is also leveraging its experience in the consumer and retail sectors to accelerate growth across the world, channels, and categories — starting with its anticipated launch of womenswear in 2025.
Since its inception, Represent has experienced rapid growth, with a compound annual growth rate (CAGR) of 64% since 2020, delivering double-digit profit margins.
With product offerings in both luxury and performance sportswear, the brand stated that it is “well positioned” to continue its trajectory and expects to generate circa £100m in revenue by the end of this fiscal year.
Founded by George Heaton and Michael Heaton and led by CEO Paul Spencer, Represent has quickly scaled, serving over 350,000 of its online community in 2023 and securing a growing desirable portfolio of wholesale partners.
In 2024, the brand opened its first retail locations: a luxury boutique in West Hollywood, Los Angeles, followed by a flagship store in its hometown of Manchester on New Cathedral Street, with a London store set to open in Summer 2025.
Alongside its mainline collections, Represent has recently collaborated with other global brands such as Puma, Belstaff, and Oasis.
Additionally, its ‘247’ roster of ambassadors has grown to include some of the “world’s highest” performing Hyrox athletes.
Spencer said: “We’ve 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.”
Heaton added: “We’ve 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, investment director at True and a new board member at Represent, concluded: “Represent is 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.”
