{"id":2156751,"date":"2025-08-07T07:41:11","date_gmt":"2025-08-07T06:41:11","guid":{"rendered":"https:\/\/www.thebusinessdesk.com\/northwest\/?p=2156751"},"modified":"2025-08-07T09:26:43","modified_gmt":"2025-08-07T08:26:43","slug":"investment-for-cult-fashion-brand-based-in-manchester-values-business-at-400m","status":"publish","type":"post","link":"https:\/\/www.thebusinessdesk.com\/northwest\/news\/2156751-investment-for-cult-fashion-brand-based-in-manchester-values-business-at-400m","title":{"rendered":"Investment for cult fashion brand based in Manchester – values business at \u00a3400m"},"content":{"rendered":"

A cult fashion brand based in Manchester has taken on \u201csignificant minority investment\u201d from an American private equity backer, which values it at \u00a3400m (US$530m).<\/span><\/p>\n

Adanola, a womens athleisure wear brand based alongside the Co-op headquarters in the NOMA district in Manchester, has been backed by STORY3 Capital Partners, the Los Angeles based investor which specialises in the consumer sector and also owns fashion retailer Saks and furniture brand HD Buttercup.<\/span><\/p>\n

Founded in 2015 by Hyrum Cook, Adanola has seen rapid growth in recent years following high-profile endorsements for products like the Ultimate Leggings (with over 1.5 million pairs sold), from Kendall Jenner, Kaia Gerber, Veneda Carter and Rosie Huntington-Whiteley.<\/span><\/p>\n

To the end of March 2024 the business made \u00a319m in pre-tax profits on turnover of \u00a357.1m and at that time employed 76 people, even though it had outsourced all of its distribution.\u00a0<\/span><\/p>\n

During the pandemic their Ultimate Leggings, which retail at \u00a340 went viral with consumers who were working out at home.<\/p>\n

\"\"

Adanola founder Hyrum Cook and CEO Niran Chana<\/p><\/div>\n

In June 2024, Adanola appointed Niran Chana as CEO to drive growth and lead overall strategy and execution. Previously, he served as Chief Commercial Officer at Gymshark where he played a key role in scaling the business, having joined in 2015.\u00a0<\/span><\/p>\n

Niran Chana, Adanola CEO 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. <\/span><\/p>\n

“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.”<\/span><\/p>\n

Peter Comisar, Founder and Managing Partner of STORY3 and former Goldman Sachs Partner, 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.”<\/span><\/p>\n

Adanola’s direct to consumer model is complemented by a wholesale network, which includes Selfridges, David Jones, Soho House, Equinox, and Middle-East retailer Ounass.\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Adanola based in NOMA now backed by Los Angeles based investor STORY3<\/p>\n","protected":false},"author":264565,"featured_media":2156755,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,6],"coauthors":[116163],"class_list":["post-2156751","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-lifestyle","tag-featured-story","tag-greater-manchester","tag-national","tag-northwest","tag-top-story"],"yoast_head":"\nInvestment for cult fashion brand based in Manchester - values business at \u00a3400m<\/title>\n<meta name=\"description\" content=\"Adanola based in NOMA now backed by Los Angeles based investor STORY3\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.thebusinessdesk.com\/northwest\/news\/2156751-investment-for-cult-fashion-brand-based-in-manchester-values-business-at-400m\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Investment for cult fashion brand based in Manchester - values business at \u00a3400m\" \/>\n<meta property=\"og:description\" content=\"Adanola based in NOMA now backed by Los Angeles based investor STORY3\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.thebusinessdesk.com\/northwest\/news\/2156751-investment-for-cult-fashion-brand-based-in-manchester-values-business-at-400m\" \/>\n<meta property=\"og:site_name\" content=\"North West\" \/>\n<meta property=\"article:published_time\" content=\"2025-08-07T06:41:11+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-08-07T08:26:43+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.thebusinessdesk.com\/_files\/images\/aug_25\/ADANOLA_AUGUST_COLLECTION-e1754548293125.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"533\" \/>\n\t<meta property=\"og:image:height\" content=\"392\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Michael Taylor\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Michael Taylor\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.thebusinessdesk.com\/northwest\/news\/2156751-investment-for-cult-fashion-brand-based-in-manchester-values-business-at-400m\",\"url\":\"https:\/\/www.thebusinessdesk.com\/northwest\/news\/2156751-investment-for-cult-fashion-brand-based-in-manchester-values-business-at-400m\",\"name\":\"Investment for cult fashion brand based in Manchester - 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