Founder seeks greater control of sportswear brand
Ben Francis, who started the company by sewing gym clothes in his parents’ garage in 2012 at age 20 and later dropped out of Aston University to focus on the business, is looking to increase his control of the sportswear brand. He is also in talks with banks over financing the deal with General Atlantic, which has a representative on Gymshark’s board.
The 2020 transaction turned Gymshark into a company valued at £1.25bn. Francis’s current estimated fortune of £726m is based on the latest Sunday Times Rich List.
Gymshark’s growth has slowed in recent years as competition in the athleisure market has intensified and household costs have risen, the company has said. Last year, the company cut hundreds of roles in a restructuring aimed at weathering near-term pressures and improving service to customers in continental Europe.
The company’s most recent financial results showed revenue rising to £647m for the year to July 2025, while pre-tax profits declined from £11.8m to £6.9m. In its annual filing, Gymshark said a reduction in discounting combined with improved marketing and brand awareness efforts had helped drive sales growth.
Gymshark sells primarily directly to consumers and has opened a small number of high street stores in recent years, including a location on Regent Street in central London.
Francis received an MBE for services to business in 2022. In October 2025, he was among a group of chief executives who met with Chancellor Rachel Reeves to discuss encouraging more companies to list on the London Stock Exchange.
Gymshark declined to comment. General Atlantic was approached for comment.