The Charlottesville-based company, founded in 2016 by Kevin Hubbard, Kristina Loftus, and Matthew Loftus, has remained profitable since its inception. While the financial terms of the deal remain undisclosed, the partnership aims to leverage the influence of CHAMP’s athlete network to accelerate Rhoback’s expansion into wholesale markets, collegiate licensing, and physical retail. Despite the influx of capital, the co-founders will retain full control of daily operations and long-term strategy.
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Rhoback Secures First Strategic Investment from CHAMP
After a decade of bootstrapped growth from a wooden camper to a $150 million revenue powerhouse, Virginia-based apparel brand Rhoback has accepted its first outside capital. The investment comes from CHAMP, a newly formed partnership between L Catterton and Patricof Co backed by over 250 professional athletes.
Rhoback established its market position through early adoption of Name, Image, and Likeness (NIL) deals, integrating college athletes into its marketing long before the practice became industry standard. The brand currently serves over 2 million customers and has shipped more than 3.5 million orders. Scott Dahnke, Global CEO of L Catterton, noted that the brand’s community-centric approach aligns with the firm’s strategy of pairing consumer expertise with high-profile athlete engagement. For the founders, the partnership represents a shift from organic growth to strategic scaling, moving beyond their direct-to-consumer origins while maintaining the brand's 'Crave Activity' identity.
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