Before there is action, there is an idea!
Gymshark has come a long way from a small garage to a multi-billionaire company since its founder Ben Fransis started making pieces of fitnesswear. But by 2020, the fast-growing fitness wear brand was valued at more than 1 billion pounds and had been supported by a number of Hollywood stars.
Francis worked hard to grow to the best possible heights for his company. he worked in multiple roles for his company after which he returned in the company for the position of CEO in 2021.
Francis once stated in an interview “In Canada, you’ve got Lulu, and in the States, you’ve got great brands like Nike and Under Armour and in Germany, you’ve Adidas and Puma. I really think that Gymshark can be the U.K.’d answer to those brands.”
GymShark Success Story
As of now, the company Gymshark holds a total worth £700 million. It didn’t reach this height so soon, as it took so many years to make it reach this level.
With the use of a great combination of digital marketing campaigns, famous yearly blackout sales, and community, Gymshark has an incredible reach that is far beyond that of its competitors.
How Gymshark’s CEO Built A Billion Dollar Brand By 30?
The Gymshark website was created in 2011 by a then-19-year-old boy named Francis while he was studying at Branston University. During his high school days, he found IT very interesting. he even said that those IT classes changes his whole life. alongside, he was also very fascinated towards gym and fitness.
And that’s how the idea to build Gymshark was born. His interest in IT and fitness turned into his work life as he started his own fitness website soon after that.
Finally, in 2012 Gymshark was incorporated by Ben Francis in collaboration with his school friend Lewis Morgan. At first, Gymshark website was used as a drop shiping fitness website. Then after some time Francis and lewis used all the money that was earned through their drop-shippingh venture, as well as what Francis earned working at pizza Hut, to buy a screen printer and sewing machine to make his first pieces of Gymshark fitnesswear.
What Inspired Francis to Go From Drop Shipping To Making Clothes?
Francis had no such pre-planned strategy to go from a drop-shipping business to making fitness wear. It was merely a random decision that proved to be the best decision of his life.
Francis said that at the time when they were running their website, there were no good and stylish gym wear clothes. So we decided to make our own and that’s how we shifted to becoming a Fitness wear brand.
Francis learned sewing from his mother and Nan. During the daytime he would go to university and would work at Pizza Hut. Then at night, he would watch videos that his mother’s sewing videos. That’s how he learned sewing.
After some time Francis dropped college to work full-time for his business. Soon women’s fitness wear was also launched in the Gymshark project.
In 2016, Morgan stepped back from working in the business but remained a shareholder for the next four years.
Fast forward to 2020 and Gymshark had gone from operating out of a garage to a campus in Solihull, just outside of Birmingham complete with its own lifting club and gym.
Where so many clothing brands were hit by the coronavirus. Gymshark actually came out stronger with more revenue than ever.
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Where To Shop Gymshark Products?
Gymshark is an exclusively online business and only sells its products through its own website. That worked to its advantage as many brick-and-mortar shops were forced to close during the height of the lockdown. The business also benefitted from people using exercise to stay occupied while being asked to stay at home.
By 2020, Gymshark sales increased by 58% compared to their previous year’s closure with revenue topping half a billion dollars.
Gymshark Stake And Shareholdings
Ben Francis owns 70% of the company’s stakes. In August 2020, U.S. private equity firm general announced it had taken a 21% stake in Gymshark. at that time, it valued Gymshark at more than 1 billion pounds.
Gymshark is among the second largest British companies to reach great heights without any previous backing from external investors.
Francis managed various roles in the company for around 6 years like marketing head, branding and other things. Then in 2021, he returned as the CEO of the company with yet another highly ambitious plan to expand Gymshark globally.
Ben Francis Net Worth
With a major holding of 70% of the company’s stake, Ben Francis has a total net worth of £700m as of 2021. In 2023, Ben Francis was appointed as a Member of the Order of the British Empire (MBE) as New Year Honours for his amazing contribution and the services he provided to the business sector.