Gymshark is an English workout apparel and accessories company, producer, and retailer based in Solihull. Gymshark, which was founded in 2012, designs and sells its own line of workout apparel. The company was valued at more than £1 billion in 2020. Ben Francis is the company’s principal owner.
History
Ben Francis and Lewis Morgan, two high school buddies, started Gymshark in 2012. Both 19 years old, they founded the brand while attending university. Francis attended Aston University and worked as a delivery driver for Pizza Hut when he originally started the business.
Gymshark began as a supplement company, dropshipping bodybuilding products via their website. It began designing and manufacturing its own workout gear in 2013. Initially, Francis sewed the clothing in his parent’s garage on a made-to-order basis, using a sewing machine and screen printer he saved up for. Gymshark made £500 every day in sales throughout its first year.
In 2013, the company participated at the BodyPower fitness trade event at Birmingham’s NEC arena, where it sold out of all of its stock on the first day. Gymshark’s Luxe tracksuit went popular on Facebook after the presentation, generating £30,000 in sales in 30 minutes. When the company’s income reached £250,000, Francis and Morgan both dropped out of university to focus solely on Gymshark.
Morgan quit the firm partially in 2016, keeping 20% of the company to focus on his other companies, Ernest Cole, a property development company, and Maniere De Voir, a fashion label.
Expansion
Gymshark won the The Sunday Times Fast Track 100 award, as the fastest growing company in the UK in 2016. The company relocated from its Redditch office to a new 42,000 square-foot headquarters on Blythe Valley Business Park in 2018. It achieved £100 million in sales the same year.
Gymshark’ sells its products directly to consumers in 180 countries via websites in 13 languages.
The company employs 499 people globally. In 2019, Gymshark made sales of £175.2 million with a profit of £18.6 million. The company’s full-year revenues to July 2020 were £268 million.
Net worth
Currently the business is worth at around $1.45 billion.
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