Gymshark founder Ben Francis explains the leadership dynamics and alignment needed when Steve Hewitt was CEO while Francis remained majority owner.
Assertion Contradicted
Gymshark found its wedge because no brands targeted bodybuilders and weightlifters
“No one made Clothing specific to bodybuilders and lifters, and it's less even, it was more around the branding. No one sold product that was dedicated to that sort of, that group that we were very much a part of.”
Disclosure
Gymshark's co-founders split over whether to hire management and scale aggressively
“My perspective was very much like, I was really happy to roll the dice time and time again, and just keep growing and growing and growing the business, and to bring in more people More management types at the time and build the business from that perspective. …”
Assertion Not checkable as stated
The business split permanently ended the relationship between Gymshark's co-founders
“No, no, that, that, that was the end of our personal relationship there, which I think is a shame, but it is what it is ultimately.”
Disclosure
Gymshark refuses to expand beyond gym wear into soccer or basketball apparel
“It's really important to me that we retain a really narrow focus. So the easiest thing for us to do would be to double or triple the size of our range and start selling basketball wear and fashion wear and soccer and everything. That, that's not interesting to…”
Assertion Not checkable as stated
Gymshark pivoted to handmade apparel by purchasing a sewing machine and printer
“Now at that point, we then bought a sewing machine, we brought a screen printer, we'd saved the money for it, and we started to basically to try to hand make, hand print our own clothing, basically, and that, that, that was where it all really started to kick …”
Disclosure
Gymshark's pivot to apparel increased margins from 4 percent to 50 percent
“We could sell, I make 50 pounds worth of supplements, make two pounds in margin, or we could sell 30 pounds worth of clothing and make 15 pounds.”