UK sportswear brand Gymshark has secured unicorn status after a fresh fundraising round saw the company’s valuation pass £1bn.
The sportswear brand has entered a strategic partnership with global growth equity firm General Atlantic, which will see the firm take a 21% stake in the business and its head of consumer for EMEA Melis Kahya Akar take a seat on Gymshark’s board.
Gymshark founder Ben Francis has also upped his stake in the brand to over 70% from his previous holding of around two thirds.
This fresh investment will drive Gymshark’s global expansion, focusing on North America.
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