Gymshark in IPO talks with investors
Athleisure business Gymshark has started to put together plans for a stock market listing.
The brand has been holding preliminary talks with institutional investors and investment banks about a flotation, Sky News has reported.
The company hit a £1bn valuation just over a year ago and boasts customers in more than 130 countries.
Gymshark was founded by teenager Ben Francis in 2012 in his parents’ garage with products that appeal to Gen Z consumers.
The now 29-year old sold a 21 per cent stake to private equity General Atlantic in August last year. He retains a controlling stake in the company, making him one of Britain’s wealthiest people under 30.
A Gymshark spokesperson said: “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: “We are working with Ben and the team to build Gymshark into the global leader we know it can be.”
