Adanola, established in 2015 by Hyrum Cook, has positioned itself as a contemporary active lifestyle brand offering both activewear and wardrobe essentials.
The brand is a fan favourite among celebrities including Kendall Jenner, Kaia Gerber, Veneda Carter, and Rosie Huntington-Whiteley.
For the financial year ending 31 March 2024, Adanola reported a significant growth in turnover, reaching £57.11m ($76.10m), more than double the previous year's figure of £27.87m. Its pre-tax profit also increased to £18.98m, up from £8.31m in the prior fiscal.
Adanola CEO Niran Chana said: "Adanola's ascent has been fuelled by staying disciplined as a women's product-first, active lifestyle brand. Across all areas of the company, we've curated the partners that support the vision of the brand.
“STORY3's deep experience for building consumer brands will be crucial as we continue to build sustainable, profitable growth across key markets and reinforce Adanola's position as a leader in the consumer sector. I'm incredibly proud of what the Adanola team has achieved to-date, and we're poised and ready for our next chapter."
Adanola operates through a direct-to-consumer (DTC) model while maintaining a ‘selective’ wholesale network with partners such as Selfridges Group, David Jones, Ounass, Equinox, and Soho House.
The brand strategically pairs an accessible price point with premium platform partnerships to enhance its brand positioning.
Following this investment, Adanola plans to prioritise digital channels and selectively expand its retail presence, including own stores.
STORY3 founder and managing partner Peter Comisar said: "Adanola has garnered uniquely strong and authentic relationships with consumers, and we believe the business is in the early stages of powerful global growth. We are honoured to serve as a trusted partner to Hyrum and Niran given our long track record of supporting founders and entrepreneurial executive teams."
"We see extraordinary opportunities to support the Adanola team as it leverages its loyal customer base and revered products to continue to expand in its home UK market and within key growth markets including the US," STORY3 Partner Samir Shah added.
In June last year, Adanola appointed Niran Chana as CEO to drive growth and lead overall strategy and execution.
The brand opened its largest retail space yet with partner Selfridges London in the first quarter of the current fiscal.
