Adanola, a U.K.-based activewear brand, has announced a significant minority investment from STORY3 Capital Partners, a Los Angeles-based private equity firm. The partnership is a key step in Adanola’s plan to expand and reinforce its position as a global leader in the activewear market.
Founded in 2015, Adanola has gained a following for its versatile activewear, with its “Ultimate Leggings” selling over 1.5 million pairs. High-profile figures, including Kendall Jenner and Rosie Huntington-Whiteley, have also supported the brand.
In 2024, Adanola appointed Niran Chana, a former Chief Commercial Officer at Gymshark, as its new CEO to lead its growth strategy. The company plans to use the new investment to accelerate international expansion while continuing to focus on its direct-to-consumer (DTC) model and curated wholesale partnerships.
KEY QUOTES:
“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. We’re thrilled to announce the investment from STORY3 which values Adanola at approximately $530 million. 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.”
Niran Chana, Adanola CEO
“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.”
Peter Comisar, Founder and Managing Partner of STORY3 and former Goldman Sachs Partner
“With decades of experience around the consumer landscape, STORY3 believes in the convergence of consumer brands, digital media, and technology to succeed in today’s disrupted world and supports its investments to excel in each of those facets to create enduring value. 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 U.K. market and within key growth markets including the U.S.”
Samir Shah, STORY3 Partner
