PRODUCT NEWS
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| Gymshark goes all-in on live consumer fitness experiences and launches new premium range called Everywear |
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| 22 Feb 2024 . BY Kath Hudson |
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| The Gymshark Lifting Club in Birmingham / Gymshark |
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Our premium line will exclusively launch at Selfridges. This marks our first entrance into the world of wholesale
– Ben Francis, founder, Gymshark |
“2024 is going to the be biggest year for Gymshark ever,” says CEO and founder, Ben Francis following the release of year-end results that were up by 15 per cent.
Francis said that despite a difficult start to 2023, with the cost of living crisis, revenues increased to £556m ($709m, €649m) and EBITDA grew in line with sales growth. The company’s cash position improved by £50m ($63m, €58m) and Black Friday was the best sales day in the company’s history.
This year Gymshark will continue to innovate with both products and experiences. In response to customer demand, a premium range is being launched called Everywear.
Gymshark products will increasingly be available on the high street, with the new range launching at iconic London store, Selfridges.
A second London Gymshark store will open at Westfield Stratford City shopping centre near the Olympic village, which receives 34 million visits a year. This follows the launch of the first store on London's Regent Street in 2022.
There will also be a 12-month pop-up in New York and clothes will be available to buy online in Dubai from the spring with an “incredible brand experience” opening there later in the year.
The company is growing its presence in the experiences market, driven by the trend towards live consumer fitness festivals.
Its Lift the City fitness events were held in LA and Manchester last year and more are planned this year in new locations, with Miami set to to host the biggest to date. These events offer the Gymshark community the chance to come together to celebrate lifting, meet athletes, take part in competitions and attend workshops.
A brand made by lifters for lifters, Gymshark was started in 2012 from Francis’ garage in Birmingham. Since then it has grown to 900 employees across five regions with 14 online stores and customers in 230 countries.
The Regent Street store gives an inkling of what's to come, delivering an experiential space to bring the conditioning community closer together with special events, workout spaces and community hangouts.
The Hub, on the first floor, is a multi-use space for guest speakers and athlete meet and greets. There's also a Joe & The Juice café and The Sweat Room which offers a range of exercise classes including functional fitness, yoga, strength and HIIT. Gymshark LDN also has a group which runs 5k every Tuesday.
The company also operates a gym for its employees, Gymshark Lifting Club in Birmingham, which sometimes opens its doors for special events for the wider community.
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