Gymshark raises £200m Series A investment from General Atlantic at a £1bn valuation
General Atlantic has taken a 21 per cent stake in the business to support international expansion.
Gymshark is a fitness community and apparel brand that designs functional training gear and builds digital fitness audiences. The company has grown into a major international fitness label with millions of followers worldwide.
Gymshark has secured £200m in its first external funding round from General Atlantic, pushing its valuation past the £1bn mark. The transaction grants the growth equity investor a 21 per cent stake in the business while founder Ben Francis increases his shareholding to over 70 per cent. The capital will support further international expansion, particularly in North America. Melis Kahya Akar of General Atlantic is joining the company board as part of the agreement.
From the founder
"It has been an incredible ride over the last eight years to get to this point, but today signals the next chapter in the Gymshark story. We are nothing without our community, so we will use this new investment partnership to get even closer to them on a truly global scale. I’m incredibly proud of what Gymshark has achieved to date from our roots in Birmingham, but it’s all about looking forward. I firmly believe Gymshark has the potential to be to the UK what Nike is to the US and Adidas is to Germany, and today is a significant step to realising that."
Ben Francis
Founder at Gymshark
Investor perspective
"We believe Gymshark is an authentic, disruptive and differentiated brand. Against a backdrop of rising social media usage, rapid growth of e-commerce and increasing focus on health and wellness, Gymshark is positioned to seize the opportunity of further growth."
Gabriel Caillaux
Co-President, Global Head of Climate, and Head of General Atlantic’s EMEA business, General Atlantic
Use of funds
- 01Expand into international markets
