Gymshark's restructuring plans will look to create more localised teams
Gymshark has confirmed that it is looking to restructure the business with a focus on international expansion and that it focus on driving strategy more locally.
As part of the restructuring process Gymshark confirmed it might have to make 121 jobs redundant, with Founder and CEO Ben Francis clarifying no final decision had been made.
If the changes are implemented the jobs would be cut before the end of Gymshark's financial year on 31 July 2022.
As part of the new strategy the sportswear and lifestyle brand is looking to drive strategy more locally in locations where Gymshark is most active. The strategy would also result in about 100 new jobs being created, with Francis adding that the company would try to offer as many of its own people a chance to take these new roles.
The company currently employs 900 people and is recruiting sales staff for its first-ever physical store location on London's Regent Street.
Francis said: “It is driven by our international expansion, ambitious growth plans and the need to create commercial accountability within the regions and ensure customer strategies are driven by local lenses, specific knowledge and data, not just by those of us here in Solihull.”
