Gymshark’s co-founder to take active role in young gymwear brand

Gymshark co-founder Lewis Morgan has invested in women’s sportswear company AYBL Group, now valued at £50 million, and will take on the role of executive chairman.

The AYBL gymwear brand was founded in 2018 by brothers Reiss and Kristian Edgerton in Bromsgrove (also the birthplace of Gymshark in 2012) and has recorded profits of £2.8m in the pandemic year of 2020-21.

In the next financial year of 2021-22 the brand is projected to reach revenues over £20m and profits of £4m.

The two brothers will take the role of joint CEOs for the group and work closely with Lewis Morgan who will oversee company strategy.

AYBL ships over 400,000 orders to more than 160 countries each year, including the US, UK and Germany.

Apart from AYBL the group also owns womenswear brand Because of Alice (BOA).

"AYBL has gone from strength-to-strength since we started it three years ago. Having recently added BOA to the group and expanded our HQ to meet growing demand, it feels like the perfect time to introduce Lewis' wealth of expertise to the business, in what is sure to be an exciting new chapter,” co-founder Reiss Edgerton said.

Lewis Morgan said: "I've had a passion for the athleisure industry ever since I co-founded Gymshark in 2012. After selling my remaining stake in Gymshark last year, I've been eager to step back into the industry, so I'm excited to have the opportunity to play a part in the continued growth of the AYBL Group.”

"As a business, we understand the value of people and talent, so are actively looking to bring more brands into group, preferably founder-led, where we can add value through our expertise," he added.

Two weeks ago Gymshark’s director and former chairman, Paul Richardson, purchased a majority stake in Cheltenham-based streetwear brand HERA London.