Gymshark explores growth options after sales triple
today Aug 21, 2018
British fitness apparel brand Gymshark is reportedly talking with advisers to consider its next steps as it prepares to see sales hit £100 million this year.
Founded in 2012, the brand is relatively new, however it has quickly become one of the most recognisable brands in fitness through a successful social media presence. More than 5.2 million social media users follow its accounts on Facebook, Instagram, Twitter and Pinterest, which regularly invites users to world tours with famous fitness ambassadors.
In the year to 31 July, sales tripled to £40.5 million, and are expected to reach £100 million in the current financial year. Revenue is expected to grow to £140 by 2019.
Against this backdrop, the company is understood to be talking with advisers over its strategic options, reported The Telegraph. Its value has been estimated at between £300m and £400m.
In April, the fitness brand opened new headquarters in Solihull and announced the creation of up to 150 new jobs. The site has an on-site cinema, yoga studios and treatment rooms for employees.
To capture more sales, Gymshark is currently working on opening more than 25 international online stores by 2020, up from its existing 11.
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