According to reports, Ben Francis, the 29-year-old founder of Gymshark and his company’s private equity backers have entered into discussion with banks and investors about a possible, future IPO. This is seen as a logical next step for the business which has achieved a £1bn valuation.
Gymshark has grown exponentially since its launch in 2012 and its lifestyle clothing and accessories are now sold in over 130 countries. A 21 per cent stake in the business is owned by General Atlantic with Francis holding the controlling stake. A Gymshark spokesperson told Sky News: “We regularly speak to financial institutions to ensure we are connected to the business world and we continue to learn. Any recent conversations we have had have been about introducing these organisations to Gymshark and our journey so far.”
A spokesman for General Atlantic added to this, saying: “We are working with Ben and the team to build Gymshark into the global leader we know it can be.”
Share