Nobull is a clothing manufacturer and footwear for athletics, but its largest audience comes from CrossFit®. He recently completed another round of investments, a ben valuation 500 million dollars, to accelerate global expansion.
The co-founders Marcus Wilson and Michael Schaeffer they told CNBC that Nobull saw one explosive growth during the Covid pandemic, as consumers cut back on clothing but continued to buy fitness equipment.
The health crisis, however, has also created constraints on the supply chain and led to a shortage of merchandise stocks. Nobull said he plans to use the new funding to help replenish stocks.
Who is the NoBull company
Boston-based Nobull is well known for its training accessories: items like lightweight sweat-absorbing shorts, sleeveless shirts and training sneakers.
They also sell a special sneaker just for thel weight lifting which costs around $ 300. More recently, they have begun selling items for other sports and activities, including running, and launched a $ 180 cyclist-friendly shoe last year.
Their women's business currently surpasses men's, thanks, in part, to a growing list of female athletes they work as ambassadors of the Nobull brand, including the athlete and queen of the CrossFit® Games Tia Clair Toomey.
Additionally, Wilson and Schaeffer have long been active athletes who are members of the CrossFit® community.
"It was pretty obvious ", Schaeffer said of how Nobull entered the world of CrossFit® about six years ago. "We both love CrossFit®. We love the community… and that's what we aim for organically. "
This connection is paying off. Last month, CrossFit® has announced that Nobull would become the main sponsor of the CrossFit® Games, starting again this summer. The brand will also serve as the official footwear and apparel sponsor for the CrossFit® community.
The partnership is expected to last at least three years.
"We are not a CrossFit® brand", Explained Wilson, “But CrossFit® is a sport for those who train hard and don't believe in excuses. So there are great synergies within CrossFit®. "
Once they hit the demand they set for the United States, Nobull's next ambitions include expansion abroad (the products are not available in all parts of the world!).
“We have great global awarenessWilson said. “So the other thing we're doing is developing our ability to distribute products around the world. … We want to make sure we break down barriers to entry in all markets where our customers demand the products ”.
The brand will continue to mainly sell online. Today, they have three stores in the United States - in Boston, Miami and New York's SoHo neighborhood - which are still temporarily closed due to the pandemic.
They also hope to open more stores in the next few years, but there are no plans to enter wholesale channels like department stores.
Material translated from CNBC.