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The Markets
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Proactive UK has moved.
Coverage of London’s small caps continues on proactiveinvestors.com
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The Markets
by Proactive
Proactive UK has moved.
Small-cap coverage continues on .com
Go to Proactive UK
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The Markets
by Proactive
Proactive UK has moved.
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Leisure, gaming and gambling

Gymshark reportedly to axe 10% of staff in company overhaul

The sportswear brand looks to expand in the US, its biggest market

Gymshark could axe as many as 10% of its workforce in an overhaul of the online-only retailer, according to reports.

The Financial Times reported the sportswear group also plans to create 100 new jobs as it focuses on the lucrative US market.

Ben Francis, founder and chief executive told the FT the changes would make "certain that the necessary skills are in the right place to give the business the best possible opportunity to grow globally”.

The report said the restructuring is not due to poor financial performance but the group does expect slower double-digit growth this year.

Gymshark sales increased more than 50% to more than £400mln for the year to July 2021.

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