Fernando Alonso partners with an American company to guarantee the continuity of his clothing brand

In 2017, Fernando Alonso launched a new business project focused on fashion called Kimoa. A textile firm focused on sustainability that the pilot himself has been in charge of promoting in each of his public appearances.

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Despite his star character and all the media coverage that the Asturian pilot attracts, the project has not been as profitable as he hoped and Kimoa has accumulated nearly three million in losses since its creation. Quimoalar, the company on which the business is articulated, ended up in its annual accounts with a deficit of 650,000 euros this year, 13% more than in 2019.

Fernando Alonso se asocia con una empresa estadounidense para garantizar la continuidad de su marca de ropa

2020 was especially difficult for textile companies. That year, Quimoalar saw its income fall by 20%, to 843,000 euros, compared to the years 2018 and 2019, when the company received more than one million euros each year.

Kimoa currently sells its products mainly through its website to more than 74 countries and will expand its business thanks to this external investment. The company has sold 75% of its capital to the American company Revolution Brands of SimplyEV, specialized in electric scooters and urban fashion. From the hand of the American, they will begin their entry into North America.

The transfer was confirmed on August 18, in which it was detailed that Alonso would keep his 25% of Quimoalar's capital and would continue to be the brand's official ambassador.

With the sale, the goal is to grow Kimoa's presence in the United States and create up to 50 stores in the country within two years. “It is an honor to continue carrying the Kimoa logo, building the brand and welcoming all those who share our vision to the family”, commented Fernando Alonso in the press release confirming the transaction.