Gymshark funding round to value it at £500m

2443
Gymshark
// Gymshark set to reveal a round of funding that could value it around £500 million
// The online retailer is one of the fastest growing online retailers and was last year valued £300m-£400m

Gymshark is set to announce a funding round that could give it a valuation of around £500 million.

The news comes as the online activewear retailer continues to expand amid soaring sales.

According to The Mail on Sunday, blue chip investors such as private equity firms Bain Capital and KKR were looking into investing in Gymshark.

The firm’s value had been estimated at between £300 million and £400 million last year, and this could grow to £500 million should it announce a round of funding.

Established in 2012, Gymshark is one of the UK’s fastest-growing online retailers, recording £18.1 million profit last year on the back of £103.2 million in sales.

Social media has been key to its success, especially Instagram, where it connects with influencers to promote its clothing items.

Click here to sign up to Retail Gazette’s free daily email newsletter