Gymshark ‘launches investment round’ based on £500m valuation
Clothing phenomenon and retailer Gymshark is reported to be raising funds to support its continued growth.
The company is looking to smaller investors to help fund its latest round of growth, rather than major investors, the Mail on Sunday has reported.
Solihull-based fashion brand Gymshark is being valued at £500m in its latest funding round.
It has apparently already snubbed private equity giants KKR and Bain Capital.
The company was founded in 2012 by 19 year-old Ben Francis and a group of friends from secondary school while he was at Ashton University. It initially started in his garage, before becoming one of the fastest-growing brands in the fashion sector. It now sells to customers in 178 countries.
Earlier this year The Sunday Times BDO Profit Track ranked Gymshark as one of the UK’s top 100 companies with the fastest-growing profits.
Gymshark made £18.1m in profit last year on sales of £103.2m.
Earlier this year, the company announced that it would be launching a gym and “innovation hub” in Solihull. The 55,000 sq ft site will be called the Gymshark Lifting Club, and will help the team with research and development for new products.
