Gymshark focuses on the fitness apparel and accessories platform. The company offers workout clothes and activewear designed for comfort, functionality, and support during various physical activities. The products are primarily sold to fitness enthusiasts and athletes. It was founded in 2012 and is based in Dover, Delaware.
Expert Collections containing Gymshark
Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.
Gymshark is included in 3 Expert Collections, including Direct-To-Consumer Brands (Non-Food).
Direct-To-Consumer Brands (Non-Food)
Startups selling their own branded products directly to consumers through owned e-commerce channels, rather than relying on department stores or big online marketplaces.
Companies that sell goods online (B2C), or enable the selling of goods online via tech solutions (B2B).
Unicorns- Billion Dollar Startups
Gymshark has filed 5 patents.
Hosiery, Sports clothing, Trousers and shorts, Lingerie, Undergarments
Hosiery, Sports clothing, Trousers and shorts, Lingerie, Undergarments
Latest Gymshark News
Feb 22, 2024
By Feb 22, 2024 Fast-growing activewear brand Gymshark has filed its accounts for FY23, with strong growth continuing. And it has also revealed some key expansion plans for this year. Gymshark They include its second permanent store in London’s Westfield Stratford; its first wholesale partnership “with the icon that is Selfridges ” to sell its first premium range of clothing; its first-ever store in the US; and its intention to bring Gymshark to the Middle East — specifically Dubai. First, let’s look at the numbers for the 12 months to the end of July last year. Ads Founder and company chief Ben Francis said it was a “really, really strong year” despite a difficult start to the period due to the cost-of-living crisis and other global events. Gymshark Group Limited’s revenue rose around 15% from £484.5 million to £556.2 million, although the gross margin contracted to 60% from 65% a year earlier. Profit before tax was also down at £13.1 million from £27.8 million in the previous year. But EBITDA including exceptional items rose from £37.6 million to £40.4 million and excluding exceptional items it was up from £39.9 million to £45.3 million. The company said that EBITDA is now its “primary indicator” and this rose in line with sales growth. It added that orders increased by 13.1% following a 13.9% increase in the previous year, while units sold were up by 8.7% having been up 27.5% the year before. That larger increase is understandable in the year to July 2022 given the pronounced bounce-back from the pandemic in that period. In the latest year, international sales rose by a healthy 12.5%. Gymshark also said its stock balance was cut by £25 million, with Francis adding that this meant “we can be much more agile as a business going forward”. And it improved its cash position by £50 million. Beyond the financial year in question, it has also just seen its “biggest-ever Black Friday, which included the biggest single day in Gymshark’s history”. Along with the results, Ben Francis released a video explaining the factors behind its success and sharing information about those future plans. In fact, he said “2024 is going to be Gymshark’s biggest-ever year”. London’s Regent Street store opened a little over 12 months ago and the CEO said that it has been "incredibly successful since day one. Because of that we see more of an opportunity in offline,” hence the Westfield Stratford decision. Francis clearly sees the appeal of opening at the UK’s busiest shopping centre that has over 44 million visitors every year. As for that move into a more upscale product offer, he said that 2024 will see the company launch its “highest-quality athleisure range so far”. The range will be called Everywear, presumably underlining the gym-to-street aspect of the offer. Francis explained that a more premium product is something the company’s community has long been asking for. And that's where Selfridges comes in because Francis also said he felt it was important to launch the product somewhere prestigious. It will be exclusive to the luxury department store retailer, although he didn’t say how long the exclusive period would be. Gymshark founder Ben Francis Regardless, this is a big move on more than one level for the company whose products were previously only available via its own website and its own physical store. In terms of international growth, that US retail development we mentioned above will see the company opening a pop-up store in New York. The firm has tested the waters in the city before with a pop-up event on Mercer Street in SoHo back in 2017 that was very successful. And the brand has grown strongly in the US since then. The new pop-up store that's being planned will be open for 12 months and will be “in the heart of Manhattan”. Regarding Dubai, he said he’d visited the region and was blown away by the fitness scene there. The brand will be available online there as of this spring. And without giving any details he said "we've also set the wheels in motion for an incredible brand experience at the end of this year”. And to conclude his presentation he referenced the Gymshark Lift community events that have been staged in Manchester and LA and said that the “biggest-ever Lift The City event” will take place in Miami later this month. More events will follow across the whole of the year. Copyright © 2024 FashionNetwork.com All rights reserved. Tags :
Gymshark Frequently Asked Questions (FAQ)
When was Gymshark founded?
Gymshark was founded in 2012.
Where is Gymshark's headquarters?
Gymshark's headquarters is located at 1675 South State Street, Dover.
What is Gymshark's latest funding round?
Gymshark's latest funding round is Growth Equity.
How much did Gymshark raise?
Gymshark raised a total of $300M.
Who are the investors of Gymshark?
Investors of Gymshark include General Atlantic.
Who are Gymshark's competitors?
Competitors of Gymshark include Sweaty Betty, Stronger, Fabletics, Outdoor Voices, Myles Apparel and 7 more.
Compare Gymshark to Competitors
Vuori operates as a men's active lifestyle apparel brand. It offers joggers, tops, hoodies, leggings, and more. It allows customers to shop according to their fitness choices and preferences. The company was founded in 2015 and is based in Carlsbad, California.
Outdoor Voices operates as an online fitness apparel e-commerce brand. It specializes in the conception, design, and production of activewear for men and women. It produces sweatshirts, jackets, leggings, shoes, and accessories. It was founded in 2014 and is based in Austin, Texas.
Patagonia is a company that focuses on designing outdoor clothing and gear, operating in the apparel industry. The company's main offerings include high-quality clothing and equipment for outdoor activities such as climbing, surfing, skiing, snowboarding, fly fishing, and trail running. It was founded in 1973 and is based in Ventura, California.
Vollebak is a company focused on the clothing industry, with a unique approach that integrates science and technology into its designs. The company offers a wide range of clothing items, including jackets, hoodies, pants, and shirts, all designed with advanced materials and innovative features. Some of these materials have origins in NASA technology, while others are inspired by nature. It was founded in 2015 and is based in London, England.
Superfit Hero specializes in premium plus size activewear and operates within the fashion and fitness apparel industry. The company offers a range of products including moisture-wicking leggings, supportive sports bras, and comfortable loungewear, all designed with inclusive sizing from L to 7XL. Superfit Hero primarily caters to the plus size market segment. It is based in Los Angeles, California.
Concourse Sports is a multi-channel retailer specializing in outdoor recreation and sporting goods. The company offers a wide range of equipment, apparel, gear, and gifts for outdoor enthusiasts and athletes. Concourse Sports primarily serves the outdoor recreation and sporting goods market segments. It is based in Fenton, Missouri.