Gymshark in talks with advisers after sales skyrocket

Activewear specialist Gymshark is said to be in talks with advisers as it considers its next move in the fitness market.

According to The Telegraph, sources close to Gymshark believe the company could be valued at between £300 million and £400 million.

The business tripled turnover in the 12 months to July 31, up 217 per cent year on year to £40.5 million, and it’s set to hit £100 million for its current financial year.

At just six years old, the pureplay retailer has managed to develop a loyal following for its trend-led workout gear beloved by millennials.

The business currently operates online-only, although it has played with pop-up shops in Birmingham, London, Los Angeles and Melbourne.

Gymshark announced earlier this year that it would create 150 new jobs and move to new headquarters in ­Solihull.

As to its next move, Gymshark seems reluctant to give too many details away.

“Like any fast-growing company, we are ­often approached by advisers and, like many before us, we open lines of ­communication,” a Gymshark spokesman told The Telegraph in light of the reports.

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