Nobull secures $500 million valuation and eyes global expansion

Nobull has experienced explosive growth during the pandemic , but this has also caused supply chain constraints and led to out-of-stock items. Nobull plans to use the new funds to replenish inventory and accelerate its global expansion.

Nobull , a sports apparel and footwear maker with a large following in the CrossFit community , has closed another round of funding that values ​​it at more than $500 million.

Boston-based Nobull is known for its training gear: lightweight , breathable shorts, tank tops and training shoes. It makes a pair of sneakers specifically for lifting that cost about $300.

Last month, CrossFit announced that Nobull would become the title sponsor of its CrossFit Games, which kicks off again this summer. The brand will also serve as the official footwear and apparel sponsor of the CrossFit community , a partnership that is expected to last at least three years.

Wilson explained: “We are not a CrossFit brand. But CrossFit is a sport and a form of training for people who train hard and don’t believe in excuses. So there is really a huge synergy with CrossFit.”

Once Nobull catches up with the demand it sees in the U.S., its next goal will be to expand overseas.

“We have a very strong global presence. So another thing we want to do is increase our ability to distribute our products around the world,” Wilson said. “ We want to make sure that the barriers to entry into those markets are lowered for customers who already need our products.”

Nobull's main sales channel is online sales. It currently has three stores in the United States, located in Boston , Miami and near SoHo in New York City , but they are temporarily closed due to the epidemic . Nobull hopes to open more stores in the next few years, but has no plans to enter wholesale channels such as department stores , and mainly focuses on online sales.

“We’ve gotten to be really creative with our product launches, ” Wilson said. “We’ve always been super flexible, and it’s a lot easier here without having to go wholesale.”

Nobull has raised $32 million to date, according to Pitchbook.

Nobull

Global Expansion