The activewear brands industry in Benelux has grown substantially, catering to a modern audience that values health and wellness. Companies range from established global brands to innovative startups, offering products like athleisure wear, performance gear, and fitness accessories. A rising trend in eco-friendly materials and sustainable production practices is transforming product offerings. As consumer preferences shift toward active lifestyles, many brands are integrating technology into their products for enhanced performance tracking. The industry is expected to see continued growth, driven by increased health consciousness and the blending of fashion with functionality.


The investors in this list include a mix of private equity and venture capital firms. Predominantly headquartered in countries like Luxembourg, Belgium, and the Netherlands, these investors vary in size and experience, ranging from smaller outfits to large, well-established firms. Founded between the late 19th century to the early 21st century, they have collectively participated in numerous deals, with a noteworthy presence in the activewear sector, marking a trend towards investing in health-conscious businesses. In 2024 alone, these firms made several strategic investments, reflecting their confidence in the activewear market.


Top 12 Activewear Brands Investors in Benelux


1. Cvc

  • Website: cvc.com
  • Type: Private Equity
  • Headquarters: Luxembourg
  • Founded year: 2005
  • Headcount: 1001-5000
  • Number of deals in 2024: 16
  • LinkedIn: cvc-capital-partners

CVC Capital Partners is a prominent private equity investment firm founded in 2005, based in Luxembourg, managing approximately €193 billion in assets for over 1000 clients, including pension funds and institutional investors. The firm specializes in private equity, credit, secondaries, and infrastructure investments. Notably, CVC has a history of acquiring brands in the activewear sector, such as OXBOW, which they acquired in 1996, and Nazareno Gabrielli in 1989. Their strategic investment in Virgin Active in 2011, a gym chain owned by Richard Branson’s Virgin Group, further highlights their focus on the fitness and active lifestyle market, aligning with their goal of delivering sustainable value and growth through strategic investments.


2. Equinox


Equinox is a private equity firm founded in 2001, based in Luxembourg, specializing in investments in the Italian mid-market. The firm focuses on building partnerships with entrepreneurs and managers to unlock value for investors and portfolio companies. Equinox provides investment management and advisory services, catering primarily to businesses seeking growth opportunities. Notably, Equinox has been involved in transactions such as the investment in Rhone Apparel, a men’s activewear and lifestyle brand known for its innovative fabrics and performance characteristics. This involvement in the activewear sector highlights Equinox's potential interest in this industry, despite their broader focus on mid-market investments.


3. BNP Paribas Fortis


BNP Paribas Fortis is a banking and financial services provider based in Brussels, Belgium, offering a wide range of services including personal banking, corporate banking, investment management, and financial advisory. Founded in 2008, the firm serves individuals, businesses, and organizations, helping them manage their finances and investments effectively. Notably, in September 2022, BNP Paribas Fortis participated in a funding round for Castore, a British sportswear brand, contributing to a £50 million debt facility alongside HSBC and Silicon Valley Bank. This investment valued Castore at £750 million and is aimed at supporting the brand's expansion efforts in the competitive activewear market, highlighting BNP Paribas Fortis's involvement in the activewear sector.


4. Waterland Private Equity


Waterland Private Equity Investments B.V. is a private equity firm based in Bussum, North Holland, Netherlands, founded in 1999. The firm specializes in growth equity investments and partners with ambitious entrepreneurs and management teams to support their growth strategies through strategic planning and operational assistance. Waterland operates across Europe and focuses on various sectors, including healthcare and sustainability. Recently, Waterland made a significant move in the activewear and fitness industry by acquiring a majority stake in LifeFit Group, a German health and fitness platform. This acquisition is part of a broader strategy to enhance their portfolio in the fitness sector. Following this, LifeFit Group also acquired the FIT/One Group, further solidifying their presence in the fitness market and expanding their operational footprint. These transactions highlight Waterland's active engagement in the fitness and activewear space, making them a relevant investor in this category.


5. Prosus Group

  • Website: prosus.com
  • Type: Venture Capital
  • Headquarters: Amsterdam, North Holland, Netherlands
  • Founded year: 2019
  • Headcount: 10001+
  • Number of deals in 2024: 21
  • LinkedIn: prosus-group

Prosus Group is a global technology investor and operator based in Amsterdam, Netherlands, founded in 2019. The firm focuses on enhancing everyday life through technology across various sectors, including online classifieds, food delivery, payments, and education technology. With over 21 investments in 2024 alone, Prosus has a significant presence in the venture capital landscape. Notably, they have invested in Fashinza, a B2B marketplace and supply chain platform for fashion brands, which raised $100 million in Series B funding led by Prosus Ventures. This investment highlights their engagement in the fashion industry, which encompasses activewear brands. Prosus aims to create valuable products and services while fostering community growth and sustainable business practices, making them a potentially valuable partner for activewear brands.


6. Sofina

  • Website: sofinagroup.com
  • Type: Venture Capital
  • Headquarters: Brussels, Brussels, Belgium
  • Founded year: 1898
  • Headcount: 51-200
  • Number of deals in 2024: 4
  • LinkedIn: sofina

Sofina is a venture capital investment company based in Brussels, Belgium, founded in 1898. The firm specializes in providing patient capital to growing businesses across various sectors, including telecommunications, consumer goods, and energy. Sofina partners with entrepreneurs and family-owned businesses, offering strategic advice and long-term investment solutions to foster sustainable growth. Notably, Sofina has invested in HealthKart, which raised $25 million to expand its omnichannel nutrition platform, indicating a focus on health and wellness. Additionally, they invested in The Whole Truth, which raised over $15 million in Series C funding, further emphasizing their interest in consumer goods that align with health-conscious lifestyles. These transactions suggest that Sofina is actively engaged in sectors that are relevant to the activewear market.


7. SanomaVentures


SanomaVentures is a venture capital firm based in Hoofddorp, North Holland, Netherlands, founded in 2011. The firm specializes in supporting innovative startups primarily in the digital information, entertainment, and education sectors. They provide funding, strategic guidance, and access to a broad network to help entrepreneurs grow their businesses. Their portfolio includes investments in various sectors, including e-commerce platforms, mobile applications, and digital marketing solutions. Notably, SanomaVentures has invested in Virtuagym, which raised $900,000 in a venture round in 2013, and Yogaia, which raised $3,000,000 in a seed round in 2015. Yogaia, in particular, is relevant to the activewear industry as it focuses on online yoga classes, catering to the fitness and wellness market.


8. Exor N.V.

  • Website: exor.com
  • Type: Venture Capital
  • Headquarters: Amsterdam, North Holland, Netherlands
  • Founded year: 2009
  • Headcount: 11-50
  • Number of deals in 2024: 26
  • LinkedIn: exor_2

Exor N.V. is a venture capital holding company based in Amsterdam, Netherlands, founded in 2009. It operates across various sectors, including automotive, healthcare, and media, and manages a diverse portfolio of companies such as Ferrari, Stellantis, and Philips. Exor focuses on enhancing value through strategic investments and operational support. Notably, Exor has invested in Fiit, which raised $8,737,024 in a Series A round in March 2019, indicating its interest in the fitness and activewear sector. Additionally, Exor participated in the funding round for Motatos, a sustainable e-commerce business, showcasing its commitment to innovative and sustainable business models. These transactions highlight Exor's potential relevance in the activewear brands industry.


9. Samsonite

  • Website: samsonite.com
  • Type: Corporate
  • Headquarters: Oudenaarde, Flanders, Belgium
  • Founded year: 1910
  • Headcount: 1001-5000
  • LinkedIn: samsonite

Samsonite International S.A., founded in 1910 and based in Oudenaarde, Flanders, Belgium, is a prominent luggage manufacturer and retailer known for its high-quality travel bags and accessories. The company caters to both leisure and business travelers, offering a diverse range of products that emphasize functionality and style. In a strategic move to diversify its brand portfolio, Samsonite acquired Gregory Mountain Products from Black Diamond, Inc. for US$85 million in cash in June 2014. This acquisition reflects Samsonite's intent to enhance its presence in the outdoor market, which overlaps with the activewear industry, as Gregory Mountain Products specializes in outdoor gear that appeals to active consumers. This transaction highlights Samsonite's commitment to expanding its influence beyond traditional luggage into sectors that support active lifestyles.


10. dsm-firmenich

  • Website: dsm-firmenich.com
  • Type: Venture Capital
  • Headquarters: Maastricht, Limburg, Netherlands
  • Headcount: 10001+
  • Number of deals in 2024: 3
  • LinkedIn: dsmfirmenich

dsm-firmenich is a for-profit company based in Maastricht, Limburg, Netherlands, operating primarily in the nutrition, health, and beauty sectors. With a workforce of over 10,000 employees, the company provides a diverse range of products, including fragrances, nutritional supplements, and active pharmaceutical ingredients. They serve various industries by offering innovative solutions aimed at enhancing product offerings and addressing sustainability challenges. Notably, dsm-firmenich's venture capital arm, DSM Venturing, has been involved in significant transactions, including a Series A investment in Momentous, a human performance company that raised $6.5 million to support the launch of new products and technology developments. This investment highlights their commitment to the health and performance sector, which is closely related to the activewear industry.


11. Graduate Entrepreneur Fund


The Graduate Entrepreneur Fund is a venture capital firm based in the Netherlands, founded in 2021. It specializes in providing funding and support to early-stage startups founded by alumni of the universities of Delft and Rotterdam. The firm typically invests between €75K to €2M in ambitious founders, offering tailored support, coaching, and networking opportunities to help them navigate the challenges of entrepreneurship. Notably, the fund has invested in companies like Gymstory, which focuses on fitness-related solutions, and GetEase, which also aligns with active lifestyle themes. These transactions highlight the fund's engagement in the activewear sector, showcasing its commitment to supporting innovative startups in this industry.


12. Verlinvest

  • Website: verlinvest.com
  • Type: Venture Capital
  • Headquarters: Brussels, Brussels, Belgium
  • Founded year: 1995
  • Headcount: 11-50
  • Number of deals in 2024: 5
  • LinkedIn: verlinvest

Verlinvest is a venture capital firm based in Brussels, Belgium, founded in 1995. The firm specializes in high-growth consumer brands across diverse sectors, including food, beverage, health, and technology. Verlinvest provides long-term capital and strategic advisory services to help brands scale and innovate. Notably, in October 2024, Verlinvest acquired a significant stake in The Climbing Hangar, the leading UK bouldering gym operator, to accelerate its growth and expand its operations. This transaction highlights Verlinvest's commitment to investing in companies that promote active lifestyles, making them a relevant player in the activewear brands space.



Activewear Brands Insights: Key Investors in Benelux


InvestorHeadquarterSizeFoundedDeals 2024
CvcLuxembourg1001-5000200516
EquinoxLuxembourg11-5020011
BNP Paribas FortisBrussels, Brussels, Belgium10001+20082
Waterland Private EquityBussum, North Holland, Netherlands201-50019997
Prosus GroupAmsterdam, North Holland, Netherlands10001+201921
SofinaBrussels, Brussels, Belgium51-20018984
SanomaVenturesHoofddorp, North Holland, Netherlands1-1020110
Exor N.V.Amsterdam, North Holland, Netherlands11-50200926
SamsoniteOudenaarde, Flanders, Belgium1001-500019100
dsm-firmenichMaastricht, Limburg, Netherlands10001+3
Graduate Entrepreneur FundNetherlands11-5020219
VerlinvestBrussels, Brussels, Belgium11-5019955


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