Gymshark set to challenge adidas and Nike

Gymshark set to challenge adidas and Nike

Gymshark set to challenge adidas and Nike

Gymshark set to challenge adidas and Nike

In Irish fashion news, British gym wear company, Gymshark are hotly tipped to put a major dent into rival sportswear companies, Nike in Adidas market share in the coming years.

OK, Gymshark might be the new kids on the block when it comes to fashionable sportswear, but this may all about to change for the West Midlands based company.

In the past week, Gymshark boss, Ben Francis has seen the company he founded now valued at over £1 billion pounds thanks to the sale of a 21% stake in his company to American based private equity group, General Atlantic.

Gymshark was founded back in 2012 by 28-year old entrepreneur, Ben Francis. Due to the smart use of social media, Ben and his team, managed to attract millions of followers towards his fast-growing sports brand.

Today, Gymshark is recognised as one of the fastest growing sports labels in the UK which is already expanding out to other territories including America and the Middle East.

This clever investment agreement between Gymshark and General Atlantic will see Ben retain a 70% stake in his company. However, cash from the deal will set his firm up nicely to expand their brand further afield and tap into some of Adidas and Nike’s lucrative market share in the sportswear sector.

Gymshark are responsible for producing quality and affordable sportswear and accessories for men and women. Their collections include a wide selection of joggers, leggings, tops and tracksuits.

Confirming the new deal with General Atlantic, Ben Francis said” “It has been an incredible ride over the last eight years to get to this point. I’m incredibly proud of what Gymshark has achieved to date from our roots in Birmingham, but it’s all about looking forward.”

Francis now firmly has his signs at expanding his sportswear empire in the coming years. The global sportswear marketplace generated over €151 billion euro in sales last year alone. This is expected to grow to over €171 Billion in the next 5 years.

Full details about their extensive sportswear range can be found at Gymshark.com

 

Gymshark set to challenge adidas and Nike

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