Gymshark reportedly in talks with advisers as sales triple

Gymshark
Gymshark

Fast-growing millennial fitness brand Gymshark is reported to be in talks with advisers over its next move as industry sources place its value at between £300m and £400m.

The Solihull-based brand was founded six years ago by teenager Ben Francis and its trend-led product has gone on to be a hit with the influential millennial consumer, racking up more than 5m social media followers and customers in 131 countries.

According to The Telegraph, it is now considering its next move having tripled sales to £40.5m in the year to 31 July 2018. Sales are on course to hit £100m in the next financial year and £140m by 2019.

The business, however, is remaining tight-lipped about its plans with a spokesperson telling the newspaper: “Like any fast-growing company, we are ­often approached by advisers and, like many before us, we open lines of ­communication.”