// Gymshark founder and CEO Ben Francis confirms there will be no sale of the business in the near future as it prioritises building the business
// Francis: “We’ve got plenty on our plate, we need to get this store launched, we need to smash the US market”
Gymshark boss Ben Francis has shut down any talks of a potential IPO or sale as the business prepares to open its highly anticipated Regent Street flagship store this weekend.
Francis, who sold a 21% stake in the business to private equity group General Atlantic in 2020 that valued Gymshark at more than £1 billion, told Retail Gazette: “I’m not going to sell this business.”
“I feel like I’ve got the best job in the world. Even with everything that’s going on in the world, I absolutely love what I do. And in many respects, money can’t buy that.”
“So, in terms of an IPO, we’re not looking at that anytime soon. We’ve got plenty on our plate, we need to get this store launched, we need to smash the US market, and quite frankly, we just need to manage through the next 12 to 18 months. An IPO just isn’t currently on our agenda.”
Subscribe to Retail Gazette for free
Sign up here to get the latest news straight into your inbox each morning
Francis spoke to Retail Gazette as he gave a sneak peak of Gymshark’s first-ever permanent store at Regent Street.
The much-anticipated 18,000sq ft store has been in the works for over a year and houses a Joe & the Juice alongside a dedicated sweat room and pro brench where experts will offer up fitness advice as well as offering free fitness classes daily.
To see the first pics of the store, visit retailgazette.com on Friday morning.
Click here to sign up to Retail Gazette‘s free daily email newsletter
