It’s been all about investments and acquisitions for the British clothing retailer Gymshark lately!
Following Gymshark’s Director Paul Richardson’s move to buy a majority share in streetwear brand Hela London last month, the British retailer’s Co-founder Lewis Morgan has now made significant investment in women’s sportswear brand AYBL.
Also Read: British brand Gymshark’s Director acquires streetwear brand Hera London
Lewis will now be the Executive Chairman at AYBL Group, wherein he will oversee company strategies and work closely with founders Reiss and Kristian Edgerton.
Delighted on having Lewis, Reiss, who will now also be a joint CEO with Kristian, said that he knows Lewis for over two decades and that the Group was fortunate to already have the foundations of a relationship based on trust – an essential pre-requisite while considering teaming up with an investor.
Lewis, meanwhile, said that he was always passionate about the athleisure industry and therefore he was eager to come back to the same, adding “I’m excited to have the opportunity to play a part in the continued growth of the AYBL Group.”
Founded in 2018, the AYBL Group ships more than 400,000 orders to over 160 countries every year, including the US, UK, Germany, Ireland, Netherlands and France. Reportedly, the Group has projected to record revenues of over £20 million and profits of £4 million in the 2021/22 financial year.
