Gymshark valued at £1bn as US private equity firm buys stake
Gymshark founder Ben Francis has seen his fast-expanding company valued at over £1 billion following the sale of a 21% stake in the firm to US-based private equity group General Atlantic.
The 28-year-old co-founded the brand in 2012 and has seen it growing via clever use of social media. It has 4.6 million followers on Instagram.
It's now one of the fastest growing labels based in Britain and is seen as having a hugely promising future.
Francis retains a stake in Gymshark of 70%+ but now also has the cash available to expand the label even further, especially in the lucrative US market.
The brand sells at an affordable mid-range price level with leggings and joggers, for instance, selling at £45 and £40 respectively.
Francis said of the deal: “It has been an incredible ride over the last eight years to get to this point. I’m incredibly proud of what Gymshark has achieved to date from our roots in Birmingham, but it’s all about looking forward.”
He has frequently talked of his ambitions to turn the brand into a major global name and despite the dominance of giant players such as Nike and Adidas, there’s still plenty of space for newer players in the global market.
The sports clothing market generated $181 billion in revenue last year around the world and by 2025 is predicted to expand to $208 billion.
Gymshark has already begun its global expansion and as well as its set-up in the UK, has offices in the US and Hong Kong.
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