He was chosen to open trading at the New York Stock Exchange and travelled the world launching pop-up shops. We sold out of everything we took to that event. Gymshark pioneered influencer marketing and harnessed the power of social media. How a circle of kindness propelled a In 2015, just three years after founding the company, Gymshark made 9 million in sales. He cofounded the company with his friend Lewis. While Gymsharks average yearly growth is far outpacing that of behemoths Nike (7% since 2018) and Lululemon (26%), it is still a long way from reaching the $47 billion sales that Nike recorded last year, or even Lululemons $8 billion. The following year, the company was named the UKs fastest-growing company. I got carried away and I regret it. "We learnt to be curious and always ask questions. "Sothen those two things just sort of came together and I started making a load of fitness websites, more for fun than anything," he explained. But selling supplements was a tough business. Updated: 12:35 PM EST December 13, 2021. At the same time, Francis had also developed an interest in fitness. This channel is to give you. Brother of Ann (Lewis) Robertson and Francis Lewis Jr. When we couldn't afford product to sell, we drop shipped. This was to solve their problem of not finding fitness clothes that made sense for their body types. [7] His first business was an online company that sold car license plates. Crew storefront on London's Regent Street, the prime shopping destination in the heart of the British capital. Father of Margaret (Lewis) Livingston. Not once has she told us to stop. Our friendship group became very small pretty quickly. These include chief technology officer, chief marketing officer, and chief product officer. He went to live with his aunt and uncle soon after. After their first year, both Lewis and Ben decided to quit and focus on Gymshark full time - and their risk paid off. Charlie Tucker left the show without any explanation at the . It was here that Morgan met Ben Francis, who would later become his business partner. He said he liked how different countries have their own big-name sportswear brands, such as Lululemon in Canada, Nike and Under Armour in the U.S., as well as Adidas and Puma in Germany. Age. Francis sold a 21% stake to private equity firm General Atlantic in August 2020, in a deal that valued the company at $1.45 billion; he owns 70%. When Apple started, it was adopted by architects, creatives and other sorts of cool kids, Francis says. Experience the easiest way to grow your business. Francis said he has also been also inspired by other brands, like carmaker Jaguar Land Rover. Gymshark was founded by Ben Francis and his school friend Lewis Morgan in 2012. Dillon Francis is a resident deejay at the acclaimed Wynn Las Vegas, and this year he celebrates a decade of performing at the nightclub. "We used her house as a printing room and a stock room, and that's the same for Ben's family. The Gymshark offices now consist of a campus, complete with its own lifting club and gym for employees. On December 1, 2021, Ben Francis stood outside of a shuttered J. 29 years. Its turnover has grown tenfold over the last four years, rising to 400 million ($550 million) this year, according the company's latest full-year financial results in July. Now valued at more than 1 billion, Ben Francis and I started the business as teenagers, working out of our parents' garages. It was a huge learning curve. Fair play to Lewis Morgan and Ben Francis for creating Gymshark. [8] He has said his time at university gave him "a strong foundation on which to build a business". Francis has stayed close to his roots in the U.K.'s West Midlands, with Gymshark headquartered in Solihull, just outside of Birmingham. (Morgan sold his stake in Gymshark for about $130 million in 2020 as part of the General Atlantic deal. The founder of online athleisure juggernaut Gymshark has revealed how he stepped back from the billion pound empire he started aged 19 - as 'money isn't everything' and 'he wanted time with loved ones'. 3 Lessons We Can Learn From Gymshark. 5. To support themselves, they worked part-time after school. While having YouTube influencers at your stand makes total sense now, at the time, this was brand new. [citation needed], Member of the Order of the British Empire, "GymShark Annual Return (free information from Companies House)", "Entrepreneur behind Gymshark worth 700m after blockbuster deal", "From Bodybuilder To Billionaire: How Gymshark Founder Ben Francis Built A Sportswear Unicorn", "Gymshark founded by ex pizza delivery boy valued at over 1billion", "Former South Bromsgrove High pupil Ben inspires class of 2019 on Gymshark visit", "The 27-year-old from Bromsgrove who's already worth well over 100 million", "Ben Francis: fitness fanatic builds Gymshark into a 1bn business", "Former student's sportswear business is booming", "The 26-year-old with a 100m sportswear brand", "Ex-pizza delivery boy's gym firm worth over 1bn", "Gymshark founder Ben Francis's tips for success", "Gymshark Entrepreneur Ready to Take on the U.S.", "How Gymshark Became A $1.3 Billion Brand, And What We Can Learn", "How Gymshark founder Ben Francis created his sportswear empire", "Gymshark: Ex-pizza delivery boy's fitness wear brand valued at over 1bn", "Interview: Gymshark boss Steve Hewitt on his 'field of dreams', "How to make the most of your dataand empower your workforce", "Gymshark founder reveals reasons behind stepping down as CEO", "Gymshark expands head office base in Solihull", "Clothing brand Gymshark becomes UK's newest 1bn start-up", "Gymshark co-founder Ben Francis returns to CEO role", "30 Under 30 Europe 2018: Retail & Ecommerce", "Bidders circle 1bn Gymshark as sports brand shrugs off virus", "Small Business, Scale ups and Entrepreneurs Business Council: 10 July 2019", "Gymshark founder named EY Entrepreneur Of The Year 2020 UK winner", "Owner of Gymshark Ben Francis announces he's having twins! All this has helped Gymsharks turnover grow to 400 million in 2021, a tenfold increase over the last four years. Ben Francis net worth 2022. "You get to a point where money isn't everything. [16] After the trade show ended, a tracksuit went viral on Facebook, generating 30,000 in sales within 30 minutes. What is Shopify and How Does Shopify Work in 2022? Last year Mr Francis sold a 21 per cent share to an American private. The New York Red Bulls made headlines last December upon acquiring Lewis Morgan from Inter Miami CF in exchange for $1.2 million in General Allocation Money over two years - at the time, the . He's set up the The Lewis Morgan Podcast, on which he interviews other successful people to share stories and tips for making it big. Despite giving up the traditional university experience in order to build their dream, Lewis has no regrets. You get to a point where money isn't everything. Died 7 Apr 1844 in New York, New York . ), Bodybuilding wear just wasnt available here, Francis told Forbes in 2020. "Our story is incredible. Ben founded Gymshark when he was 19 years old, while still a student at Aston University. We use your sign-up to provide content in the ways you've consented to and improve our understanding of you. The pair were just acquaintances at school, Morgan says, until they were seated next to each other in. The new store stays true to Gymshark's roots and is designed to foster a spirit of community among . I would tell myself to focus on the idea of building a brand sooner. [15] In 2013, branching out from supplements, Francis began designing and selling fitness apparel on Gymshark's website. Another thing Lewis is passionate about is telling his story with the hope of inspiring other people to achieve their goals. Benjamin David Francis MBE (born 4 June 1992[1]) is a British billionaire entrepreneur who is the co-founder, CEO and majority owner of Gymshark, a fitness apparel and accessories manufacturer and retailer founded by him and his friend Lewis Morgan in 2012. The following three days saw Francis and his team selling out all the stock theyd brought along. OpenSea Business Model Explained, Who Owns WordPress? Now he's back at the helm, and spoke to CNBC about why he feels his original decision to step back was best for the company. brother. Donald Trumps real net worth? [16][17] He learned how to sew from his grandmother. The following year, the 28-year-old would represent the UK at the EY World Entrepreneur of the Year Awards. The reorganisation saw Francis. Apart from studying, he worked diligently as a delivery boy for pizza hut when he established this company. Lewis Morgan, 28, and his friend Ben Francis, from Bromsgrove, Worcestershire, set up Gymshark when they were teenagers and studying business at Worcester University and Aston University in Birmingham. Ben Francis is the Founder and ambitious entrepreneur behind leading global fitness brand, Gymshark. 100 acoustic hits, , . 14:17 BST 13 Oct 2020 These included Lex Griffin and Nikki Blackketter. [26] Francis currently owns more than 70% of the company, which is worth 700 million. A No 10 spokesman said: The PM remains committed to closely working with industry., Get UK politics insight with our free daily email briefing straight to your inbox. Francis Morgan. I wish I had been the brains behind OpenSea. Fond of pumping iron himself, he started out selling health supplements. Morgan graduated from Princeton in 1773 and was elected captain of a New York . At the time, I was studying business at University of Worcester and had two jobs - a pot washer and a retail assistant at Burton. Some official U.S. government agencies, and a plethora of news organizations have lost their verified status. He took a stab at college when he enrolled at Birminghams Aston University at age 18, delivering pizzas for Pizza Hut at night and spending his free time at the gym. 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We are no longer accepting comments on this article. Or by navigating to the user icon in the top right. Automattic Business Model Explained, How Does Discord Make Money? Lewis and Ben knew that their youth and lack of experience might put people off their company and their product, so they made a conscious effort to make sure everything looked professional and expert. Born May 30, 1934, in Ronceverte, he was the son of the late Ben and Maggie Holliday Morgan. 1.83m. Not bad for a boy from Bromsgrove who started his business in his parents' garage and who is now at the helm of a Solihull business with 550 employees. Not content with his $8-an-hour pay, he teamed up with a friend, Lewis Morgan, and started selling supplements online, buying in bulk from vendors and making a small margin selling them to customers from a website they named Gymshark. The company sent free products to prominent bodybuilders and fitness influencers. Francis, 27, held his hands up and said: I made a stupid mistake that I massively regret.. "People wanted to go to university and go out and drink. Above all, I would still be seeking out young entrepreneurs to invest in as helping others to achieve their dreams is my real passion. Ben would eventually quit university too. In the year that followed, net income more than doubled to $68 million while revenue grew by 78% to $608 million. Philadelphia, PA 19103. [35] Their twin sons were born on 24 December 2022. Something went wrong, please try again later. Fast forward a few years, and Lewis and Francis built one of the fastest-growing businesses in the UK. We were inundated with people who wanted to meet the athletes, wanted to see the productand [we] sold out at the event, says Francis. Speaking about his mum Kim, he said: "She's been amazingly supportive. This culminated in Lewis exiting the Solihull-based business in 2020 following a deal with US private equity firm General Atlantic which enabled him to offload all of his shares for 100 million. Met Gala 2023 live: Rihanna finally arrives! EXCLUSIVE: Gymshark boss Ben Francis has visited Downing Street after making 73million by the age of 26 - but has now been caught on camera snorting cocaine. Lewis has achieved an incredible amount in just a few years, They were just teenagers when they started out, Lewis and Ben started the business in their first year at university, They have no regrets about missing out on student boozing. [9] He later said "the structure, consistency and work ethic I found in the gym I realised, could be applied to different areas of my life and it would work". Gymshark started out selling supplements, but Francis and Morgan quickly pivoted to selling fitness gear they made with a screen printer and sewing machine. We had saved enough money to take recognised athletes with a large social media following, all dressed in our clothing, to the Bodypower fitness expo where we had an open stand. And there have been some headwinds: A mulled IPO on the London Stock Exchange last year never materialized, and Gymshark shut down most of its U.S. operations in March. Ten months later the Gymshark store opened its doors, marking a milestone for a company built almost entirely on social media savvy and partnerships with fitness influencers on TikTok and Instagram. "Our friendship group got very small very quickly.". After a few months of dropshipping, Francis bought a screen printer and sewing machine with the help of his brothers and friends. However, in 2013, the company made its first apparel. 4. Lewis Morgan, 28, and his friend Ben Francis, both from Bromsgrove, Worcestershire, set up Gymshark when they were 19 and studying at University Entrepreneur sold his stake in the company. Single Anthony Joshua discloses way to his heart as he goes on blind date with fan, 'I make 2,000-a-month by going through people's rubbish - and found 310 vacuum', 'I hired an escort and my best friend's mum turned up', Tattoo addict shares jaw-dropping photo of how he looked before inkings, Would you cheat? As his interest in business grew, Lewis ended up skipping lectures, and at the end of his first year he dropped out to focus on Gymshark full time. Based on this gut feeling, he booked a spot for Gymshark for the next expo. [18][19] At the time, he said the move would allow the company "to grow even more quickly" and give him time to "work on my weaknesses and become a more rounded businessperson". Im always learning from them and Ill try to continue to do so.. By Ben Francis is a British businessman and entrepreneur, born on June 4, 1992. 1701 Market Street. Check out: 32-year-old founders of multimillion-dollar app share their No. [25], In August 2020, Gymshark sold a 21% stake to US private equity firm General Atlantic in a deal which valued the company in excess of 1 billion. He and his friends Ben Francisand Lewis Morgan would Skype each other late into the night to share entrepreneurial ideas. His co-founder, and the business's driving force, Ben Francis increased his personal holding slightly to 70% in the investment and share restructuring process. All Rights Reserved. So he and Morgan poured their meager profits into a screen printer and a sewing machine and began stitching their own fitness clothing from Francis' parents' garage. Henry Morgan - a Welsh buccaneer Sir Henry Morgan was of the Tredegar Morgans (although some say he is of the PenCoed Branch of the Morgans). Ben Francis, CEO and Founder of Gymshark. After selling his shares for a hundred million, no one knew the reason behind the entrepreneur walking away from such a high valued company. "Just because I'd started a business that had grown veryquicklydidn'tmean I was the most competent chief exec.". When you start a company, the vision is always different in the end, but at the end of the day once we got into clothing the vision was always a community.. Francis then embarked on a guerrilla marketing campaign that relied on paying small amounts to fitness stars with intense online followings, handing out as little as $500 a month to influencers who would flaunt Gymshark clothes in their videos. $2.5 billion, according to our most recent tally. This helped it reach 5.6 million followers on Instagram and almost 2 million on Facebook. [24] The company currently sells products in 131 countries. Discord Explained, Impossible Foods Business Model: How Fake Meat Built a $4b Company, Pinterest Business Model Explained Inside the $31B Social Platform, Building the $1B Dating App Bumble Business Model and Story. How Charles JPMorgan takes control of First Republic's $92 BILLION deposits but not company's $100B corporate debt or 'The Dingoes' frontman and musician Broderick Smith dies 'peacefully' at the age of 75, Michelin-star chef shocks fans with plan to add semen-based dish to his menu. [10] He dropped out in 2012 to focus on Gymshark full-time. Something went wrong, please try again later. EXCLUSIVE: CBS is developing Married With Friends, a multi-camera comedy inspired by and starring real-life married couple Blake Lee (Cruel Summer, Fam) and Ben Lewis (Arrow). And Gymshark is set to open its first permanent shop in Londons Covent Garden. Although the latest profit numbers arent available, for the year ended 2020 they increased to over 24 million, up from just under 15 million in 2019. 100 acoustic hits (2023) turbobit.net; . Within a few years, we were two kids running a multimillion-pound business and, with the help of some great people, doing it surprisingly well. Lewis Morgan, 28, and his friend Ben Francis, from Bromsgrove, Worcestershire, set up Gymshark when they were at university, working from their parents' houses. Gymshark founder Ben Francis says he doesn't view big-name sportswear brands as a threat to his relatively young $1 billion label. Among his other adventures and experiences was to become Lt Governor of Jamaica and the capture of Panama.He is considered a romantic character and even has his own . Publication date 1877 Topics Lewis, Francis, 1713-1803, Lewis, Morgan, 1754-1844 Publisher New York : Anson D. F. Randolph & Company Collection university_pittsburgh; americana Digitizing sponsor We saw more than 30,000 in sales in 30 minutes and the rest, as they say, is history. [13], As a start-up, Francis marketed the brand through partnering with social media influencers, including body builders Nikki Blackketter and Lex Griffin. Genealogy for Lewis Morgan (1672 - 1734) family tree on Geni, with over 230 million profiles of ancestors and living relatives. [11] Unable to afford to buy stock or secure distribution deals with supplement suppliers, he began dropshipping supplies from other vendors and it took him six weeks to make his first sale. I'd tell myself to focus on building my dream because it would all be worth it. He incorporated the business with schoolfriend, Lewis Morgan, in 2012. To put that into perspective, Ben and I had achieved half that in the same time at Gymshark. It's the easiest and most affordable way to attract more customers and make more sales. In the year leading up to the expo, Francis would see Gymshark grow big enough to place his first order from a manufacturer. It started with stringer vests and quickly grew from there. Ben Shapiro is being mocked online after predicting that Princess Elsa from Frozen will come out as a lesbian and lead to the collapse of Disney. She's never told us we couldn't do anything. "CEO was not the right role for me when I wasin my early twenties," the founder, now 29, told CNBC Make It, a week after he returned to the role in August. [11], He began manufacturing the products from his parents' garage in Bromsgrove, using a sewing machine and screen printer he bought with 1,000 of savings. So if youre busy sewing clothes in your parents house, you still have the chance to take over the world of retail! He tells Mirror Online. He is the owner, founder and Chief Marketing Officer of Gymshark. "We had amazing people around us who were helping us.". Ben Francis, is a 29 year old British businessman who is known for being the founder and chief executive officer and majority shareholder of Gymshark, one of the biggest fitness brands in the world which is located in Solhull, England and rapidly expanding across the world with the US becoming its main focus of expansion. [2] Ben Francis, 28, started Gymshark in his parents' garage when he was 19 while studying at Aston University and working evening shifts delivering pizzas. We wanted to make money, however we could. Stay up to date with SOCCER player news, rumors, updates, analysis, social feeds, and more at FOX Sports. Born in Llandaff, Cardiff, Wales, he was the only child of Reverend Francis Lewis, but was orphaned at an early age. In thefour-year-oldvideo, he peers towards the camera before bending down to snortone lineof coke. [11], In 2013, he exhibited Gymshark's products at the BodyPower fitness trade show in Birmingham. I joined AYBL Group in 2021, which consists of women's fitness brand AYBL and fashionwear label Because of Alice. When 19-year-old Ben Francis started sewing his own workout gear as a pizza delivery guy and co-founded a company called Gymshark with his friend Lewis Morgan in his parent's garage in 2012, no . Ben Francis is the co-founder of sportswear brand Gymshark. This was more than theyd sold in their entire history. That a company of that size and scale can keep innovating at the speed and regularity it does, is truly exceptional. Ben Francis was a delivery driver for Pizza Hut. ", https://en.wikipedia.org/w/index.php?title=Ben_Francis&oldid=1151168304, This page was last edited on 22 April 2023, at 10:00. At the beginning of the journey, the company sold body-building equipment but did not stock the goods. After this early growth, Gymshark saw three big shifts that dramatically changed its trajectory. Whilst still there, and with cash in the bank from skimming margins, Ben and Lewis were able to stock all the gym wear they could get their hands on. Francis attended Plant High School where he . Friends called Saturday evening at the funeral home. The business has no High Street presence and markets itself using fitness influencers, who have large social media followers, and events. [11] Im not her to disrespect anyone or say anything but I want my part to be known Im not having Ben going on peoples podcasts telling people that I left in 2014 because its not true.. Gymshark was founded by Ben Francis and his school friend Lewis Morgan in 2012. Another reason is that Gymshark is an online-only, direct-to-consumer brand. Its been a long journey for the college dropout, who still runs the business out of Solihull, a town near his parents home outside of Birmingham. Speaking to Mirror Online, Lewis explains that he and Ben started their business shortly after starting university. Francis Lewis (March 21, 1713 - December 30, 1803) was a signer of the United States Declaration of Independence as a representative of New York. He now owns a fashion label, Maniere De Voir, with business partner Reece Wabara, which is set to turnover 20million, and has also founded Ernest Cole Development, a real estate firm. As a privateer he became very wealthy. A Government source said Francis was no longer on the advisory council. But its completely fake. Being able to look after his mum and three sisters. In the second of our new series on BusinessLive, the Gymshark co-founder explains how he went from the garage to the boardroom and why hes now focussing on future stars. Despite being just two weeks back on the job, Francis has ambitious plans for the business. Their first big break came 10 months later, in 2013, when they rented a booth at BodyPower, Europe's largest bodybuilding expo. In a recent interview with CEO Cast, the podcast platform, Morgan expresses the truth about the motive he had to leave. Instead, Gymsharks focusing on expanding in the United States, having recently opened an office in Colorado. By 2020 it had 125 influencers on its payroll. Started in 2012 in his parents garage, Francis built Gymshark into an athleisure powerhouse that in 2020 was valued at $1.45 billion when he sold a 21% stake to private equity firm General Atlantic. "Mum's incredible proud. Even at the age of 87, self-taught French artist Ben Vautier, better known simply as Ben, continues to tackle the main issues ailing society with impertinence and authenticity through his hand-painted texts. [4], Francis was born as Benjamin David Francis on 4 June 1992 and grew up in Bromsgrove, Worcestershire. The co-founder of Gymshark and chairman at the AYBL Group, Lewis Morgan, cashed out of the business he owned with Ben Francis in 2020. Save my name, email, and website in this browser for the next time I comment. So, Francis began designing his own range of fitness apparel. I sit down with him to discuss his origins and the early years of his career. As always you can unsubscribe at any time. "We were fed and we were given a free space to work. I just wanted to enjoy my life.". [15] In 2013, branching out from supplements, Francis began designing and selling fitness apparel on Gymshark's website. After attending, he knew that if he wanted Gymshark to be known in the fitness industry, hed have to exhibit there. Morgan left the company in 2016 to focus on his property development company and fashion label. In 2011, Ben was a 19-year-old student at Birmingham's Aston University. It was while doing work experience as a teenager for his grandad, who ran a furnace lining company, that Francis decided he also wanted to start his own business. "I know that they're a British brand and they're from just over the road from where I grew up, but it's so cool when you're abroad that you see their vehicles being driven around," he said. Still to this day, the once entrepreneurial duo, dont even follow each other on Instagram anymore with a seemingly icy pull of the plug on friendship. "You're not going to order from two kids from Bromesgrove", he explains. Founded in the West Midlands, UK in 2012 to now being valued at over 1 Billion Dollars. That community was Baptist, and the. "We were two kids running a multi-million pound business and, somehow, doing it well. All my heroes were YouTubers, so Id send them products.. Nine years ago, Lewis Morgan was working two jobs - scrubbing dirty dishes as a pot wash and selling mens clothes in the high street chain Burton.