Gymshark circled by private equity as it eyes £1bn valuation

Private equity firms including Inflexion, General Atlantic, TSG Partners and L Catterton are understood to be among the firms considering a bid for a minority stake in Gymshark.

The sale process for a stake in the retailer is being run by PwC.

A person with knowledge of the situation told Sky News the fitness clothing brand had ambitions to be valued at £1bn as a result of its stake sale, though it is unclear whether this aspiration will be achieved.

Gymshark founder Ben Francis, who entered the Sunday Times Rich List for the first time this year with an estimated wealth of £138m, is reportedly open to selling up to a 20% stake in the business.

Francis, who is now 27 and founded the brand when he was 19, reportedly owns around two-thirds of Gymshark’s current shares.

The direct-to-consumer brand opened what was intended to be its longest-standing pop-up in London shortly before the lockdown of non-essential stores in March.