Potential investors swarm for a bite of Gymshark

gymshark

Solihull-headquartered gym and athleisure brand Gymshark is seeking to sell a minority stake of the company, it is reported.

Turnover soared at Gymshark last year. In the year ended July 31, the company turned over £176 million, more than £73 million more than the previous year – a rise of 71 per cent.

Pre-tax profits also rose at the Solihull-headquartered athleisure brand, to more than £18.4 million, up from £17.5 million last year.

The company achieved these sales by expanding into new global markets by rolling out additional e-commerce websites.

Accountants PwC are running the sale process and it is reported that a host of private equity firms, including Permira, Inflexion, General Atlantic, TSG Partners and L Catterton are understood to be interested in bidding.

Gymshark is one of the UK’s fastest growing companies but unless you follow Instagram (Gymshark has more than four and a half million followers), or you’re under 30, you would be forgiven for not having heard of the brand, because it doesn’t have a permanent high street retail presence.