UK Gear, the company that supplies performance running shoes to the British army, is preparing for expansion in the US following a £1.125million cash injection from venture capital firm Catapult.
The funding will be used to increase the number of sales staff, both in the UK and US, to speed expansion into overseas military markets, as well as specialist retail channels.
As part of the deal Mike Tomkins, non-executive chairman of online sportswear retailer M and M Direct, is to become chairman of UK Gear.
“We will certainly use the investment in UK Gear to explore new markets.” says Tomkins. “We are now in a stronger position to extend the brand’s reach worldwide.”
UK Gear was founded in 1993 by entrepreneur David Hinde, who began his work with the British army in 2001. The company’s shoes are the first commercial product to earn the right to bear the British army’s famous crossed swords insignia.
“I firmly believe we have the full potential to become a major force in providing performance athletic footwear to military forces across the world,” says Hinde. “I see this new funding as underpinning our strategy and allowing UK Gear to take a giant step towards that ambition.”
