How did Gymshark make a $1.1 Billion Company after 6 failed attempts?

Gymshark was Ben’s seventh attempt at opening a Fitness brand?

Kurly Company Timeline

Gymshark was founded in 2012 by Ben Francis and his friends in a garage in Birmingham, UK. Their vision was to create innovative and affordable fitness apparel that would inspire and empower athletes worldwide.

Ben, was a teenager, and he started Gymshark out of a passion for fitness and a desire to fill a gap in the market for high-quality, stylish, and functional workout clothing.

3 Unique Strategies which drove customers growth:

  1. Innovative Design: Gymshark differentiated itself by offering cutting-edge designs and innovative features that catered to the needs of fitness enthusiasts.
  2. Community Engagement: The brand fostered a strong sense of community and belonging among its customers, leveraging social media and influencer marketing to connect with its audience.
  3. Direct-to-Consumer Model: Gymshark’s direct-to-consumer model allowed it to bypass traditional retail channels and sell directly to customers online, enabling greater control over pricing, distribution, and brand messaging

Did you know that Ben used to work for $6 an hour as a Pizza delivery agent to fund Gymshark’s beginnings?

They faced 3 Major Challenges:

  1. Supply Chain Management: Gymshark faced challenges in managing its supply chain and production processes to meet growing demand while maintaining product quality and consistency.
  2. Competition: The fitness apparel market became increasingly crowded, with established players and new entrants vying for market share, posing a challenge to Gymshark’s growth and differentiation.
  3. Brand Perception: As Gymshark expanded its product offerings and target audience, it faced challenges in maintaining its brand identity and authenticity, particularly among its core customer base.

Source: Statista

How did Gymshark leverage Instagram?

  1. Improving Shopper’s experience: Making use of the bio area, highlights and IGTV with same messaging architecture gives Gymshark a standardised brand identity. They made it very easy for a follower to contact and connect with the brand and browse its products, which improved the customer experience and built trust.
  2. Acing Content Distribution: There is a similar theme across all Gymshark’s imagery. Their is a consistent grey theme in the background of all top and recent posts lending thematic uniformity in Brand’s identity on Social media.
  3. Community Engagement: Gymshark’s posts are highly relevant to its target audience, with the majority of imagery captured in a gym environment and with gym equipment or weights. Gymshark also consciously includes a balance of men and women in its posts, emphasising inclusivity.
  4. Integration With Influencers: Gymshark aced influencer marketing better than their peers, making it easy for its models and influencers to link with Gymshark’s main account in their bio. It became a fastest way to promote the brand to multiple audiences, right from the first glance at the influencer’s Instagram profile.

How much customer spends, Gymshark diverted from competition?

Source: Second Measure

5 Strategies Gymshark used to become $1.1 Billion Brand:

  1. Innovative Product Design: Gymshark’s commitment to innovative product design and quality craftsmanship set it apart from competitors, driving customer loyalty and repeat purchases.
  2. Customer-Centric Approach: The brand prioritized customer feedback and engagement, listening to its audience and adapting its products and marketing strategies accordingly.
  3. Agility: They demonstrated agility and adaptability in responding to market trends, consumer preferences, and competitive pressures, allowing it to stay ahead of the curve and maintain its position as a market leader.
  4. Strong Brand Identity: The Brand cultivated a strong brand identity and community, resonating with its target audience and fostering a sense of belonging and loyalty among customers.
  5. Direct-to-Consumer Model: Their direct-to-consumer model provided greater control over the customer experience, feedback loops, and streamlined operations.

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