Topo Designs, a Colorado-based outdoor brand offering sustainable, durable apparel and accessories, announces today a significant equity investment from Gart Capital Partners, a family investment company with storied outdoor roots headquartered in Colorado.
The investment marks the first time the brand has taken on outside funding since its founding in 2008. The undisclosed sum will be used to build brand awareness and expand customer acquisition programs under the brand’s mission of its trademarked The New Outdoor, inspiring more people to get outside by integrating the outdoors seamlessly into life.
“Topo Designs was founded with the fundamental belief that everyone experiences the outdoors differently. We call it ‘The New Outdoor,’ and we want to get everyone outside without feeling encumbered by the traditional notions that hold them back,” said Jedd Rose, co-founder at Topo Designs. “Our brand is rooted in mountain culture, but we also love exploring cities and world travel. We celebrate these radical differences by offering products that help people get confidently outside on their own terms, regardless of location. This investment will help us connect more people to our mission.”
The New Outdoor platform has seen growing relevance with Topo Designs’ core audience, largely comprising young Millennials and a growing Gen Z set. The brand’s target customers are values-driven and seek out products that avoid limits to function, individuality, creativity and style. These customers carefully consider their closet space and environmental footprint, investing in quality pieces built from durable, sustainable materials. They also value aesthetics and are drawn to Topo Designs for the brand’s fusion of modern design and classic silhouettes that result in approachable, utilitarian apparel and accessories fit for the outdoors, travel and daily routines.
“In Topo Designs, we saw a unique opportunity to invest in a differentiated outdoor brand with unmatched authenticity and credibility, as well as a strong mission dedicated to helping all people explore and enjoy the outdoors, however, it is that they define it,” said Alex Gart, a partner at Gart Capital. “The company is led by true visionaries, Jedd Rose and Mark Hansen, who, along with their team, are redefining an industry to connect with a growing segment of diverse outdoor enthusiasts. We look forward to partnering with them to accelerate Topo Design’s next growth phase.”
With this funding, Topo Designs will focus heavily on customer acquisition across direct-to-consumer channels in the U.S. market. The brand plans to leverage Gart Capital’s strengths and extensive expertise in outdoor retail to expand its proprietary brick-and-mortar retail footprint across key domestic cities, as well as to further penetrate the wholesale channel. As the investment is allocated, the brand expects to announce additional plans to expand retail programs, sustainable product innovations, and nonprofit and community-based partnerships.
This capital infusion comes as Topo Designs sets sight on a revised five-year growth strategy. In 2022, the company’s total revenue grew more than 30 percent, and the brand is projecting strong double-digit growth in 2023. To drive this growth plan, the brand spent recent years investing in key leadership hires, including Matt Williams, who joined as chief operating officer from Exxel Outdoors; Rachelle Thurik, director of marketing, formerly from Nike Inc.; Sean Han, who joined as director of sales from Spyder; and Christy Bailey, director of product overseeing sustainable design innovation, formerly with Pact Apparel.
