Rhoback Taps Athlete-Led Fund in Deal Reshaping Brand Growth

CHARLOTTESVILLE, Va. – June 15, 2026

In a move that signals a seismic shift in the architecture of brand-building and athlete partnerships, active lifestyle apparel brand Rhoback announced today it has secured a strategic investment from CHAMP. This isn't just another private equity deal. CHAMP is a newly forged powerhouse, a joint venture between consumer-investing titan L Catterton, athlete advisory firm Patricof Co, and a roster of over 250 elite athletes acting as co-investors.

For Rhoback, a brand that grew from a wooden camper to over $150 million in annual revenue without taking a single dollar of outside capital, the deal is a calculated pivot. For CHAMP, this inaugural investment in Rhoback is the first test of a groundbreaking thesis: that the most potent form of marketing is fully aligned athlete ownership. The transaction keeps Rhoback’s founders in control but turbocharges their next phase of growth, providing a fascinating case study on the future of consumer-brand acceleration.

From Bootstrapped to Big League

To understand the significance of this partnership, one must first appreciate Rhoback's remarkable trajectory. Founded in 2016 by friends Kevin Hubbard, Kristina Loftus, and Matthew Loftus, the company entered the hyper-competitive activewear market with no industry experience and no funding. Their strategy was deceptively simple: create high-quality, versatile apparel and build a genuine community around a “Crave Activity” lifestyle.

This disciplined, customer-focused approach paid dividends. The company has been profitable since its inception, a rarity in the venture-backed, grow-at-all-costs DTC landscape. By 2025, the brand had surpassed $150 million in revenue, serving over two million customers worldwide and projecting it will clear $200 million in 2026. This journey from a bootstrapped startup to a nine-figure powerhouse made Rhoback an attractive, if elusive, target for investors.

“We weren't looking for capital; we were looking for the right partner,” the co-founders stated, a sentiment that underscores their strategic patience. By turning down traditional growth capital in favor of CHAMP’s unique model, Rhoback is betting that strategic value—in the form of unparalleled access to sports, culture, and consumer expertise—is worth more than cash alone.

The CHAMP Playbook: Reinventing Athlete Capital

CHAMP represents the formalization of a trend that has been bubbling for years: the athlete as a strategic investor. The partnership institutionalizes a model that Patricof Co has been refining since 2018, moving athletes from being paid endorsers to becoming equity holders with, as the saying goes, “skin in the game.”

The structure is a potent combination. L Catterton, backed by LVMH, brings a formidable global infrastructure and a decades-long track record of scaling iconic consumer brands. Patricof Co contributes its curated network of nearly 250 professional athletes—including stars like Joe Burrow, Tyrese Haliburton, and Justin Jefferson—who commit their own capital to the fund.

“Rhoback represents exactly the kind of brand CHAMP was designed to support,” noted Scott Dahnke, Global CEO of L Catterton, highlighting the brand's premium products and engaged community. The model is designed to provide what L Catterton calls a “step-function growth” opportunity. Instead of renting an athlete’s influence for a single campaign, CHAMP portfolio companies gain a dedicated army of influential owners who are financially incentivized to promote the brand authentically and consistently across their platforms.

Daniel Magliocco, a Partner at Patricof Co, articulated the core principle: “The most impactful athlete partnerships happen when incentives are aligned.” By making athletes co-owners, CHAMP transforms them into a powerful, always-on distribution channel and a credible signal of quality to consumers.

A New Era for Athlete Endorsements

Rhoback’s selection as CHAMP’s first partner is no coincidence. The apparel company was an early and adept navigator of the Name, Image, and Likeness (NIL) landscape that transformed collegiate sports in 2021. While other brands made tentative forays, Rhoback built deep, meaningful relationships with student-athletes, making them central figures in marketing campaigns.

This approach earned them significant credibility. As Caleb Downs, a first-round NFL draft pick, remarked, “They built meaningful relationships with athletes... treating us like true partners.” This history demonstrates a corporate DNA that aligns perfectly with the CHAMP ethos. The investment is, in many ways, the professional-league evolution of the playbook Rhoback helped write at the collegiate level.

The CHAMP model moves beyond the transactional nature of NIL deals and traditional endorsements. It addresses a fundamental shift in consumer trust, where authenticity trumps paid promotion. When an athlete-investor promotes a brand, they are not just fulfilling a contract; they are advocating for their own portfolio. This represents a maturation in the sports business ecosystem, where athletes are leveraging their influence with increasing financial sophistication.

Fueling the Next Phase of Growth

While Rhoback built its empire primarily through a direct-to-consumer model, the CHAMP investment is explicitly aimed at fueling a multi-channel expansion. The capital will support the opening of new physical retail locations, a significant step for a company that currently operates just one storefront in its Charlottesville hometown. This brick-and-mortar presence will allow the brand to connect with customers in a more tangible way and build on its community-centric ethos.

Furthermore, the partnership will accelerate the expansion of Rhoback’s wholesale and collegiate licensing businesses. Leveraging the strategic input and network of CHAMP’s athlete partners and L Catterton’s retail expertise will be critical in navigating the complexities of these new channels. This strategic pivot from a successful DTC-first brand to a multi-channel powerhouse is a classic “early innings” transformation, fraught with challenges but ripe with opportunity.

The deal between Rhoback and CHAMP is more than a headline; it's a blueprint. It demonstrates a new model for value creation at the intersection of consumer goods, private equity, and sports, proving that in the modern economy, the right partners can create a competitive advantage that money alone cannot buy.