Sweaty Betty, one of Britain’s most popular and coolest fitness brands for women, is appointing a veteran retail consultant as its new US President and CEO.
The company, which was founded in London’s Notting Hill 15 years ago and now has 40 stores in the UK, told Business Insider UK that Erika Serow will become the brand’s President and CEO of the US business, effective January 18, 2016.
Sweaty Betty has been compared to high-end fitness fashion brand Lululemon Athletica, though some of its clothes are even slightly more expensive.
Sweaty Betty’s basic yoga pants in the US cost roughly $107 (£72) compared to $98 (£66) at Lululemon, for example.
Sweaty Betty has annual revenues of around £31 million ($46 million) per year, according to latest company reports via DueDil. It has 389 employees and currently makes a gross profit of around £13 million ($19 million).
Sweaty Betty already has five boutiques and two concessions in Bloomingdale’s in the US. So far it only has locations on the east coast, including the town of Greenwich, Connecticut, and Manhattan’s trendy Soho and Flatiron neighbourhoods. Sweaty Betty is also looking at expanding to California.
The group is hoping Serow will “improve business results by growing and enhancing brands, improving customer targeting, aligning merchandising and marketing efforts across stores and in digital, and supporting expansion and new partnership initiatives,” according to a company statement.
Serow was previously the head of the Americas Retail Practice at management consultancy firm Bain & Company and has 20 years’ experience in the retail sector.
“We are thrilled to welcome Erika to our senior management team,” said Simon Hill-Norton, Chief Executive Officer and co-founder of Sweaty Betty.
“Erika is a highly respected industry executive with a unique ability to take brands to the next level, all while delivering product that resonates with consumers. Erika’s skills and expertise will be invaluable to Sweaty Betty at this exciting time for our company.”
This is why Sweaty Betty is so popular
Sweaty Betty is one of Britain’s coolest fitness brands for women because it has a super young vibe that marries up fashion with practicality. It even has been featured at London Fashion Week as a lot of the leisurewear can pass off as cool and casual day wear — not just for sports:
The brand is a hit with the yoga community especially due to the range of exclusive fabrics, fully opaque leggings, reversible styles and statement prints on shorts and sports skirts like these:
It’s stores are chic and look a lot like Urban Outfitters or designer brand stores — not a sports shop:
It also has an incredible following on social media with nearly 66,000 followers on Instagram alone. This is mainly because it appeals to the aspirational fitness community and regularly posts pictures that promotes fitness, fashion, and a healthy lifestyle.
Here are some of the posts we are talking about:
And of course, is able to get direct advertising by flagging up how the brand is a hit with celebrities, such as actress Reese Witherspoon: