History of Gymshark in Timeline
Gymshark is a British multinational athletic apparel retailer headquartered in Solihull, England. Founded in 2012 by Ben Francis and Lewis Morgan, the brand rapidly established itself by initially designing and selling its own fitness wear. Gymshark has since expanded its offerings to include a wider range of fitness apparel, sportswear, and accessories.
June 2012: Gymshark Founded
Gymshark, a British multinational athletic apparel retailer, was founded in June 2012 by Ben Francis and Lewis Morgan. The brand initially focused on crafting and distributing its own line of fitness wear.
2012: Ben Francis and Lewis Morgan Establish Gymshark
School friends Ben Francis and Lewis Morgan, both aged 20, founded Gymshark in 2012 while studying at university.
2013: Gymshark's Breakthrough at BodyPower Expo
Gymshark exhibited at the BodyPower fitness trade show in Birmingham in 2013, selling out of all its stock on the first day. Following the event, their Luxe tracksuit went viral on Facebook, generating £30,000 in sales within 30 minutes.
2013: Gymshark Starts Designing Apparel
In 2013, Gymshark shifted from drop shipping bodybuilding supplements to designing and manufacturing its own fitness apparel.
2016: Gymshark Named UK's Fastest Growing Company
Gymshark received the accolade of the UK's fastest-growing company in The Sunday Times Fast Track 100 in 2016.
2016: Lewis Morgan Partially Exits Gymshark
In 2016, Lewis Morgan partially exited Gymshark, retaining 20% of the company, to focus on his other ventures, including property development and a fashion label.
2018: New Headquarters and £100 Million in Sales
Gymshark relocated to a new headquarters and achieved £100 million in sales in 2018.
2018: Start of Gymshark Lifting Parties
Gymshark started hosting lifting parties in 2018 as a way to connect with their community before they had any retail stores. These events offered exclusive apparel, athlete meet-and-greets, and chances to win prizes.
August 2019: Gymshark Launches Fitness App
In August 2019, Gymshark expanded its digital offerings by releasing a fitness app with free and premium plans.
August 2019: Gymshark Releases Fitness App
In August 2019, Gymshark launched a fitness app offering free and premium plans, providing a range of workouts, training plans, and video demonstrations. The app gained popularity during the COVID-19 lockdowns.
2019: Expansion with Hong Kong Office and Gymshark Lifting Club
Gymshark expanded its global presence by opening an office in Hong Kong and launching the Gymshark Lifting Club in Solihull in 2019.
2019: Gymshark Opens First North American Office
Gymshark expanded its presence in North America by opening its first office in the region, located in downtown Denver, in 2019.
2019: Gymshark Achieves £175.2 Million in Sales
Gymshark reported significant financial performance in 2019, generating £175.2 million in sales with a profit of £18.6 million. Approximately half of its turnover came from the US market.
February 2020: First Pop-Up Shop Opens
Gymshark ventured into physical retail with its first pop-up shop, which opened in London's Covent Garden in February 2020.
August 2020: General Atlantic Acquires Stake in Gymshark
US private equity firm General Atlantic invested in Gymshark in August 2020, acquiring a 21% stake and valuing the company at over £1 billion.
2020: Shift in Target Demographic
While initially targeting men, Gymshark saw a shift in its customer base, with approximately two-thirds of sales attributed to women by 2020.
2020: Gymshark Valuation Exceeds £1 Billion
By 2020, Gymshark had achieved significant growth, reaching a valuation of over £1 billion.
2020: Gymshark's Influencer Marketing Strategy
Gymshark's marketing strategy heavily relied on influencer marketing, partnering with social media influencers, particularly YouTube bodybuilders. By 2020, the company was paying 125 influencers to promote its brand on various social media platforms.
November 2021: Gary Vaynerchuk Joins as Advisor
Gary Vaynerchuk, a prominent entrepreneur and social media personality, joined Gymshark as an advisor to the board in November 2021.
2021: Sales Surge to £437.6 Million
Gymshark experienced substantial growth in 2021, with sales surging by 68% to reach £437.6 million, up from £260.7 million in the previous year.
January 2022: Gymshark Releases "United We Sweat" Video
In January 2022, Gymshark released a video titled "United We Sweat," which highlighted the diverse ways people adapted their fitness routines during the pandemic and emphasized the gym as a place for everyone.
April 2022: Backlash Over Lack of Body Inclusivity
In April 2022, Gymshark faced criticism when a behind-the-scenes shoot revealed a lack of model diversity, raising concerns about the brand's commitment to body inclusivity.
June 2022: Gymshark Launches "Pride in Progress" Campaign
Gymshark launched the "Pride in Progress" campaign in June 2022, featuring a series of videos that showcased fitness diversity and celebrated Pride Month. The campaign included stories from individuals like Angel Flores, a well-known transgender powerlifter, and others who shared their experiences of finding their place in fitness spaces.
October 2022: First Retail Store Opens
In October 2022, Gymshark opened its first retail store on London's Regent Street.
October 2022: First Permanent Store Opens in London
Gymshark's first permanent retail store opened on Regent Street in London on October 29, 2022.
2022: Gymshark Severs Ties with True Geordie
In line with its brand values, Gymshark ended its association with former partner True Geordie in 2022 due to controversial remarks he made.
2022: First Permanent Store Opens
Gymshark opened its first permanent store in 2022, located on Regent Street in London.
February 2023: David Laid Appointed Creative Director
Gymshark appointed bodybuilder and influencer David Laid as creative director in February 2023.
April 2023: First Post-Pandemic Lifting Party
In April 2023, Gymshark hosted their first lifting party since the start of the pandemic. This event saw over 10,000 ticket sales.
July 2023: Revenue Increases, Profit Declines
In July 2023, Gymshark announced a 15% increase in revenue sales, reaching £556.2 million, with international sales growing by 12%. However, the company also experienced a decrease in profit before tax, which was £13.1 million, down from £27.8 million the previous year.
August 2023: Gymshark Promotes Inclusivity with Hijabi Athletes
Gymshark has made efforts to promote inclusivity and diversity by collaborating with hijabi athletes, such as Leana Deeb and Umaymah Makda, to empower Muslim women in fitness. In August 2023, the brand unveiled a 3D billboard featuring Leana wearing a hijab, further demonstrating its commitment to inclusivity and representation.
August 2023: Gymshark Releases Athletic Hijab
In August 2023, Gymshark released an athletic hijab designed for Muslim women.
February 2024: Lift Miami
Gymshark hosted Lift Miami in February 2024. The event had partnerships with SourStrips, Hyperice, Plunge, Turfgames, Ghost, Liquid Death, Barry's, and Stanley.
August 2024: Lift LA
Gymshark hosted Lift LA in August 2024, with partnerships including Alani Nu, Coffee Dose, Prime, SourStrips, Pressed, Hyperice, Beignet Box, and Go Greek.
2024: Closure of Hong Kong and Mauritius Offices
In 2024, Gymshark made the decision to close its offices in Hong Kong and Mauritius.