Gymshark

About Gymshark

Gymshark is a British fitness apparel and accessories retailer founded in 2012 by school friends Ben Francis and Lewis Morgan. Initially operating from Francis's parents' garage, the company began by drop-shipping bodybuilding supplements before transitioning to designing and manufacturing its own fitness wear. The shift to apparel was driven by Francis's frustration with the lack of suitable and well-fitting gym clothes on the market. He learned to sew from his grandmother and, using a screen printer and sewing machine, produced the initial garments himself.

The company's business model is primarily direct-to-consumer (DTC), selling its products through its e-commerce website and mobile app, which allows it to control its brand and customer experience while maintaining higher profit margins. This digital-first approach is complemented by a strong emphasis on social media and influencer marketing to build a community-centric brand. Gymshark was an early adopter of influencer marketing, partnering with fitness personalities to reach a broad audience. The target demographic is primarily 18-35 year olds who are digitally savvy and value fitness, health, and community. While initially focused on men, the brand now sees approximately two-thirds of its sales from women.

In August 2020, Gymshark received its first-ever external investment, with General Atlantic acquiring a 21% stake that valued the company at over £1 billion. This investment was intended to fuel global expansion. While predominantly an online retailer, Gymshark has expanded its physical presence, opening its first permanent retail store on London's Regent Street in 2022. As of July 2023, the company reported annual revenue of £556 million. Ben Francis, who had previously stepped down as CEO in 2017 to focus on creative aspects, returned to the role and remains the majority shareholder.