Gymshark’s owner, Ben Francis, has announced that his sportswear company is now worth over £1 billion.
The 28-year-old entrepreneur first started Gymshark in 2012, when he was 19 years old, studying by day and working as a Pizza Hut delivery boy by night. Ben’s stake in Gymshark is reportedly worth a staggering £700 million, as US firm General Atlantic is taking a 21% share to allow the business to expand internationally.
Announcing his success on social media, he took to Instagram to say: “I never thought I’d post this but, Gymshark is a £1BILLION+ company! Now, we take it to the next level – my dream is for this to be one of the greatest brands on the planet.
“I’m really excited to announce that Gymshark has partnered with General Atlantic to help expand this brand even more quickly than ever before. I’m so excited for this next step in the Gymshark journey. I’ve so much to tell you all – I’ve recorded a full Youtube video explaining EVERYTHING that I’ll be posting net week!! Thank you thank you and thank you to everyone who’s contributed to this brand and continues to support our vision.”
Speaking to BBC, Ben explained that he initially started the brand as he couldn’t find a sportswear line that appealed to him. He purchased a sewing machine and screen printer and worked with his brother and friends to start making gym vests and t-shirts.
He added: “This is my one true passion and the thing that I’ve truly dedicated my life to. So all of my mindset right now is about continuing to develop this brand into a truly, truly global phenomenon.”