In 2020, then 28-year-old Ben Francis became the UK's youngest homemade billionaire when he was his athletic apparel brand. Gym SharkPrivate Equity Behemoth, reached a valuation of $1.3 billion after receiving an investment from the Atlantic General.
The 32-year-old is now aiming for New York City.
He has built a 13,000-square-foot store on Bond Street and will open later this year.
“I love New York…it's the perfect place for Jim Shark and I'm honored to call it our North American home,” he told me, “We have to succeed in America to succeed all over the world.”
The NYC flagship highlights his belief that the existence of a brand in the real world is just as important as its footprint in the digital world.
Francis built his business online when he first launched in 2012, but he considers the existence of physical retail as essential for the future.
In 2022 he opened Gymshark's first store on Regent Street, London. Last year he expanded to Dubai, and in late 2024 Jim Shark opened a New York pop-up store on Worcester Street, Soho. The company has also announced plans to expand to Manchester and Amsterdam.
Although Gymshark is private and has not disclosed his finances, Francis said the success of the pop-up is enough to give him the confidence to establish a permanent footprint here.
The city has “has been very supportive of our brand vision,” and “there are greater opportunities to stand out offline,” Francis said. “People can finally see and feel the products we are so proud of… I think it's a physical brick and mortar store. teeth In fact, it's like a new and different way of reaching people. ”
Gymshark makes the retail experience unique in a store with plenty of space to host training rooms, personal training sessions, events and allowing customers to socialize.
The $25 billion gym clothing market is extremely competitive. Outdoor Voice and Olympia's sports have gone bankrupt, but established companies like Lululemon and Nike are kicking it out along with younger brands like Alo Yoga, Beyond Yoga and Vuori. But Francis was able to develop a line of clothing with consistent leggings, sweat and workout shirts.
He believes he built it into the community and the few early gym influencers he sent to his products.
Growing up in the West Midlands in England, Francis did some odd jobs in high school and by the age of 18 he started a half-dozen businesses.
However, some of the apps he created failed, and with Jim Shark he wanted to create a company with physical products. He also wanted to create something that would enhance his own gym experience – training clothes made from breathable, sweaty, and odor-reducing materials.
He enlisted with his grandmother to teach his grandmother how to sew, and the two began to fill their orders using her sewing machine.
Francis told me that the brand's initial popularity was due to influencer marketing.
“When I was in the gym, everyone I learned the most was online on YouTube,” he explained. “When Gymshark started, we were going to send products to a few of my heroes back then, when it was on YouTube.”
He also had a real passion for fitness and his products.
“People today are interested in behind the scenes of their business, especially when they put their hard-earned money on the line to buy in a business or brand,” he said. “They want to know who's behind the scenes, who's doing it and what's behind it.”
When he launched Gymshark, e-commerce was in its early stages. Shopify only gained traction, and influencer marketing was relatively new.
“It was a very different place back then,” he said. “I think there were around 20,000 subscribers among the biggest YouTubers and Fitness influencers of the time.
He staked the fairness of the company on some of his influencers, so they had a vested interest in growing gym sharks.
And as the company grows – now there are over 20 million followers on social media platforms – the community and brand are consistent.
“If we could be the best in this small space,” he says. “That's what drives us forward.”
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