For the first time in the brand’s 12-year history, revenue for British apparel giant Gymshark surpassed US $ 800million, according to recently revealed numbers from Companies House, marking yet another year of development.
The company had a turnover of US $ 811.59 million for the fiscal year that ended on 31st July 2024, up from US $ 743.3 million for FY ’23. Additionally, the gross profit margin increased significantly, rising by 63 per cent.
Compared to the previous year, adjusted EBITDA increased by US $ 8.55 million, or 14 per cent, to US $ 69.09 million.
Gymshark maintained a profit before taxes of US $ 15.9 million in spite of continuous investments in digital infrastructure and physical retail. This represents a minor decrease from FY ’23’s US $ 17.51 million. According to the brand, this resulted from its efforts to become an omnichannel company.
With stores planned or already open in major cities like London, Manchester, New York, Dubai, and Amsterdam, as well as the opening of a New York headquarters to serve as the focal point of its US operations, this includes an expanding worldwide footprint.
