Athleta scores venture capital

Women’s sports apparel cataloger/retailer Athleta on Nov. 18 completed a $6 million equity financing. Investor include former Kohlberg Kravis Roberts & Co. general partner Michael Tokarz, Richmond Financial Group, and several affiliates of the Simon Property Group. Athleta plans to use the money to expand its infrastructure and its line of running, fitness, and outdoor apparel.

Founded in by president/CEO Scott Kerslake in August 1997, Athleta did $1.5 million during its first year in business. Kerslake expects the company to reach $23 million in sales this year.

Tokarz, who is CEO of investment firm Tokarz Group as well as chairman of Cadigan Partners, and Peter Kellner, an executive with Richmond Financial Group, have joined Athleta’s board.

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