It was a mistake I learned from. [6] He first became interested in computing after studying IT at school. Based on this gut feeling, he booked a spot for Gymshark for the next expo. Fitness supplements seemed like the obvious choice, but he couldnt afford the minimum orders with his Pizza Hut paycheck. ", Get email updates with the day's biggest stories. Under his leadership, the company was able to crack 100 million in sales the following year. [11], In 2013, he exhibited Gymshark's products at the BodyPower fitness trade show in Birmingham. These include chief technology officer, chief marketing officer, and chief product officer. What is Shopify and How Does Shopify Work in 2022? Experts blast plan to resurrect 29bn Help to Buy scheme before the next election saying proposal by Rishi Sunak 'I'm no deadbeat dad!' Another thing Lewis is passionate about is telling his story with the hope of inspiring other people to achieve their goals. Marty Meierotto left the show after 8 seasons to spend more time with his teenage daughter. Father of Margaret (Lewis) Livingston. Lewis also explained how the pair's success wouldn't have been possible without the support of his and Ben's families. And Gymshark is set to open its first permanent shop in Londons Covent Garden. Ben Francis, is a 29 year old British businessman who is known for being the founder and chief executive officer and majority shareholder of Gymshark, one of the biggest fitness brands in the world which is located in Solhull, England and rapidly expanding across the world with the US becoming its main focus of expansion. "So we don't worry about larger brands," Francis told. Francis then embarked on a guerrilla marketing campaign that relied on paying small amounts to fitness stars with intense online followings, handing out as little as $500 a month to influencers who would flaunt Gymshark clothes in their videos. After selling his shares for a hundred million, no one knew the reason behind the entrepreneur walking away from such a high valued company. But just as the information of his childhood is kept private, there is very little known about their relationship. In the year that followed, net income more than doubled to $68 million while revenue grew by 78% to $608 million. OpenSea Business Model Explained, Who Owns WordPress? Francis Lewis (March 21, 1713 - December 30, 1803) was a signer of the United States Declaration of Independence as a representative of New York. In August, Gymshark was valued at 1 billion, after US private equity giant General Atlantic snapped up a 21 per cent stake in his business - making his partner Ben the richest self-made Briton under 30 with a worth of around 650million. The expo was filled with supplement brands, with bodybuilders signing autographs at the back of their stands. But its completely fake. Lewis Morgan was a retail assistant at a menswear store and a pot washer at a local hotel. Height. Basically, Ben Francis made the garments in his house's garage. Ben Francis is a British entrepreneur. Invasion of the super rats: '300 million super-rodents' that survive off takeaway scraps and evade poisons could Thousands of Cambridge University students join in 'Caesarian Sunday' booze up by downing wine, climbing Vegan activist tried to ruin my business by posting fake reviews: Chef hits out at one-star feedback left by Charles' Gladiator! In 2015, just three years after founding the company, Gymshark made 9 million in sales. He said: "I was a class clown. From the garage to the boardroom - Lewis Morgan co-founded Gymshark in humble beginnings but turned the business into a global brand. Ben Francis is still only 26 but his business is expected to see turnover hit 100m this year By Suzanne Bearne Business reporter The BBC's weekly The Boss series profiles a different. At the same time, Francis had also developed an interest in fitness. To support themselves, they worked part-time after. Keen to work in the fitness industry, the pair initially used the Gymshark website to "dropship" fitness supplements. This group also includes Liam Molesworth who co-owns two businesses, Mprove and Woodrow Mercer Healthcare, which are also turning over seven-figure sums. Fast forward a few years, and Lewis and Francis built one of the fastest-growing businesses in the UK. Instead, Gymsharks focusing on expanding in the United States, having recently opened an office in Colorado. By comparison, Nike reported a net income of $5.7 billion for the year. We're incredibly close. TAMPA, Fla Friends and family of Ben Francis said the 17-year-old died in a tragic crash in South Tampa. This was to solve their problem of not finding fitness clothes that made sense for their body types. In August 2020, a year after Gymshark hit $214 million in revenues and $18 million in net income, General Atlantic purchased its stake, just as the Covid-19 pandemic shut down gyms around the world. A friend is heard saying: Its my second time doing it., Then Franciss musclebound pal Ross Dickerson, a fitness model followed by 1.4million on Instagram, chips in: Youll be wide awake after that., Later, when Dickerson snorts another line, a pal says: Thats your eighth line., Dickerson replies: Now you know that I do sh**loads of cocaine.. "Just because I'd started a business that had grown veryquicklydidn'tmean I was the most competent chief exec.". He now owns a successful fashion label, Maniere De Voir, with business partner Reece Wabara, which is set to turnover 20million, and is setting his sights on the property market. Or by navigating to the user icon in the top right. Within a few years, we were two kids running a multimillion-pound business and, with the help of some great people, doing it surprisingly well. [4], Francis was born as Benjamin David Francis on 4 June 1992 and grew up in Bromsgrove, Worcestershire. 1 tip for starting a business, Get Make It newsletters delivered to your inbox, Learn more about the world of CNBC Make It, 2023 CNBC LLC. "You're not going to order from two kids from Bromesgrove", he explains. Francis sold a 21% stake to private equity firm General Atlantic in August 2020, in a deal that valued the company at $1.45 billion; he owns 70%. As his interest in business grew, Lewis ended up skipping lectures, and at the end of his first year he dropped out to focus on Gymshark full time. In the year leading up to the expo, Francis would see Gymshark grow big enough to place his first order from a manufacturer. When you're in a growing company things don't always go smoothly, but you have to hide that. In 2012, at the age of 19, Lewis Morgan and Ben Francis founded the Gymshark Company. Finally, in 2020 US private equity firm General Atlantic bought Morgans 21% stake in the company for about 200 million. Get the latest SOCCER news on Lewis Morgan. ft. flagship store will host events and community hangouts and feature workout studios and on-site classes. Francis then started organizing popups called "We Lift This City" in cities around the world where fans could snag exclusive gear. Its turnover has grown tenfold over the last four years, rising to 400 million ($550 million) this year, according the company's latest full-year financial results in July. In the second of our new How I Made It series on BusinessLive, we catch up with the 29-year-old to learn about his history and what the future holds. Francis started Gymshark without any money and ended up creating one of the worlds biggest gym apparel and accessories brands. I knew I needed the grades.". Speaking to Mirror Online, Lewis explains that he and Ben started their business shortly after starting university. [35] Their twin sons were born on 24 December 2022. All my heroes were YouTubers, so Id send them products.. You get to a point where money isn't everything. As always you can unsubscribe at any time. We use your sign-up to provide content in the ways you've consented to and improve our understanding of you. Gymshark boss Ben Francis - who made 73million by the age of 26 and has visited Downing Street - is seen taking the drug with three friends. The co-founder of Gymshark and chairman at the AYBL Group, Lewis Morgan, cashed out of the business he owned with Ben Francis in 2020. He also saved enough money to upgrade his space at the expo and bring YouTube fitness athletes along with them. After selling his shares for a hundred million, no one knew the reason behind the entrepreneur walking away from such a high valued company. Ben Francis is the founder and CEO of Solihull, England-based sportswear brand Gymshark. "You get to a point where money isn't everything. A Division of NBC Universal, He built a billion dollar fitnesswear brand in his 20s, People said her business idea wouldnt work but its now a blooming beauty empire, 46-year-old used this 4-part strategy to quit her job and start her own business, CEO's mistake burned through $700,000he fixed it to build a $4 billion startup, How this 28-year-old went from earning $72,000 to $186,000 in 5 years, 3 red flags that prove it might be time to quit your job. He was chosen to open trading at the New York Stock Exchange and travelled the world launching pop-up shops. In 2011, Ben was a 19-year-old student at Birmingham's Aston University. Bridie Pearson-jones For Mailonline, Not just any chip shop scraps! "Mum's incredible proud. The three-floor, 18,000 sq. We also may change the frequency you receive our emails from us in order to keep you up to date and give you the best relevant information possible. Francis founded the company in 2012 alongside his friend Lewis Morgan, selling fitness supplements from a garage that acted as their office. "I just wanted to step back and look after the people I love most. In summer 2012, a young Lewis Morgan co-founded Gymshark with his school friend Ben Francis and embarked on a journey of rapid growth, taking the fitness clothing and equipment brand from their family homes in Worcestershire to a global audience. It's the easiest and most affordable way to attract more customers and make more sales. Speaking to the Mirror Onlinehe revealed: 'I just wanted to step back and look after the people I love most. In 2017 he posed with Sir Richard Branson as the Virgin boss presented him with an award for Britains fastest-growing company. Something went wrong, please try again later. Ben Francis was a delivery driver for Pizza Hut. Ben Francis, 28, started Gymshark in his parents' garage when he was 19 while studying at Aston University and working evening shifts delivering pizzas. Now he's back at the helm, and spoke to CNBC about why he feels his original decision to step back was best for the company. Francis founded the company in 2012 alongside his friend Lewis Morgan, selling fitness supplements from a garage that acted as their office. From a pizza delivery boys idea to combine his passion for fitness with online retail, to a pivot into athletic wear because he couldnt find the styles he wanted to wear himself, this brands story is certainly inspiring. Gymsharks rapid growth was due in part to its early adoption of influencer marketing. Video from ep. Vault Verdict Associate Reviews Why Work Here DE&I Getting Hired Here Summer Program. 1 preparing for Fairleigh Dickinsons first-round Northeast Conference tournament game against St. Francis (NY) wasnt complete when Anderson began nodding. [16] After the trade show ended, a tracksuit went viral on Facebook, generating 30,000 in sales within 30 minutes. As a group, we will remain focused on women's fitness but expand beyond clothing. We sold out of everything we took to that event. This last one is set to turnover 25 million this year. Morgan left the company in 2016 to focus on his property development company and fashion label. That growth made Francis a billionaire. [6][9] The website initially sold fitness supplements. I sit down with him to discuss his origins and the early years of his career. She's never told us we couldn't do anything. Despite being just two weeks back on the job, Francis has ambitious plans for the business. Pregnant singer and baby daddy A$AP Rocky have red carpet to Parents of newborn with dwarfism who died after a routine sleep study at Boston Hospital are awarded $15 million Four-year-old girl is 'assaulted by drunk man outside Tesco'. I would tell myself to focus on the idea of building a brand sooner. I cover the world's richest people and how they made their billions. After a few months of dropshipping, Francis bought a screen printer and sewing machine with the help of his brothers and friends. To put that into perspective, Ben and I had achieved half that in the same time at Gymshark. [3] In April 2023, he made his debut on Forbes' annual World's Billionaires list as the 2259th richest person in the world. He tells Mirror Online. Several reports said the pope was being treated for a pulmonary infection that caused him to have difficulty breathing. These included Lex Griffin and Nikki Blackketter. So, Francis began designing his own range of fitness apparel. I wish I had been the brains behind OpenSea. Online fitnesswear and accessories brand Gymshark has seen rapid growth since Francis created the first iteration of the website as a college student just a decade ago. Wishpond is the only marketing platform you need to manage your entire online presence. He incorporated the business with schoolfriend, Lewis Morgan, in 2012. Lewis is now turning his hand to investment and backing the next generation of up-and-coming business stars, including taking a stake in and becoming executive chairman of clothing firm AYBL Group in October. Mr. Edwards was vice chairman . Gymshark made about 500 in sales per day during this first year. Net Worth, Salary & Earnings of Ben Francis in 2023 They were looking for something streamlined and tapered, but all that was available was large, boxy, and baggy. At the beginning of the journey, the company sold body-building equipment but did not stock the goods. [citation needed], Member of the Order of the British Empire, "GymShark Annual Return (free information from Companies House)", "Entrepreneur behind Gymshark worth 700m after blockbuster deal", "From Bodybuilder To Billionaire: How Gymshark Founder Ben Francis Built A Sportswear Unicorn", "Gymshark founded by ex pizza delivery boy valued at over 1billion", "Former South Bromsgrove High pupil Ben inspires class of 2019 on Gymshark visit", "The 27-year-old from Bromsgrove who's already worth well over 100 million", "Ben Francis: fitness fanatic builds Gymshark into a 1bn business", "Former student's sportswear business is booming", "The 26-year-old with a 100m sportswear brand", "Ex-pizza delivery boy's gym firm worth over 1bn", "Gymshark founder Ben Francis's tips for success", "Gymshark Entrepreneur Ready to Take on the U.S.", "How Gymshark Became A $1.3 Billion Brand, And What We Can Learn", "How Gymshark founder Ben Francis created his sportswear empire", "Gymshark: Ex-pizza delivery boy's fitness wear brand valued at over 1bn", "Interview: Gymshark boss Steve Hewitt on his 'field of dreams', "How to make the most of your dataand empower your workforce", "Gymshark founder reveals reasons behind stepping down as CEO", "Gymshark expands head office base in Solihull", "Clothing brand Gymshark becomes UK's newest 1bn start-up", "Gymshark co-founder Ben Francis returns to CEO role", "30 Under 30 Europe 2018: Retail & Ecommerce", "Bidders circle 1bn Gymshark as sports brand shrugs off virus", "Small Business, Scale ups and Entrepreneurs Business Council: 10 July 2019", "Gymshark founder named EY Entrepreneur Of The Year 2020 UK winner", "Owner of Gymshark Ben Francis announces he's having twins! Moment commuter blasts eco-zealots, Student kicked out of school for 'there are only two genders' t-shirt, Russian freight train derails and bursts into flames after explosion, Royal superfans camping on The Mall ahead of King's Coronation, Women's rights activists and pro-trans campaigners separated, Historic chairs to be reused by the King for the coronation service, Saboteurs wreck Russian train cut power cables 37mi from Ukraine, Cambridge students party in the park during annual celebrations, Moment large saltwater crocodile snatches pet dog off beach in QLD, Devastating tornado picks up car and hurls it through air in Florida, Unseen footage of Meghan Markle during her teenage years, Hundreds of Household Division members rehearse for coronation. 'It was four years of mayhem. Born May 30, 1934, in Ronceverte, he was the son of the late Ben and Maggie Holliday Morgan. Francis appeared on the 2019 Sunday Times Young Rich List, ranked above pop stars Little Mix and world heavyweight boxing champ Anthony Joshua. Despite giving up the traditional university experience in order to build their dream, Lewis has no regrets. Ten months later the Gymshark store opened its doors, marking a milestone for a company built almost entirely on social media savvy and partnerships with fitness influencers on TikTok and Instagram. [2] So he got his head down and studied, earning myself a place on a business management course at the University of Worcester. after US private equity giant General Atlantic snapped up a 21 per cent stake in his business - making his partner Ben the richest self-made Briton under 30 with a worth of around 650million. Francis was obsessed with fitness and going to the gym. Francis was a member of the UK Government's Business Council for Entrepreneurs in 2019. February 3, 2022 The co-founder of Gymshark and chairman at the AYBL Group, Lewis Morgan, cashed out of the business he owned with Ben Francis in 2020. Morgan, Lewis & Bockius LLP. Prior to launching Gymshark, Ben developed two fitness applications, iPhysique and Fat Loss Abs Guide, which were both listed in . Fair play to Lewis Morgan and Ben Francis for creating Gymshark. brother. $2.5 billion, according to our most recent tally. In a recent interview with CEO Cast, the podcast platform, Morgan expresses the truth about the motive he had to leave. By This is thanks in part to the pandemic, which saw more people running, cycling, and exercising at home during the lockdown. We also may change the frequency you receive our emails from us in order to keep you up to date and give you the best relevant information possible. And there have been some headwinds: A mulled IPO on the London Stock Exchange last year never materialized, and Gymshark shut down most of its U.S. operations in March. The question about what Tobin Anderson was doing the morning of Mar. 'I'm worth 125m at 28 - but I'm just proud I can look after my mum' - Mirror Online. How a circle of kindness propelled a At the time, both were 20-year-old university students. But the thing he's most proud of? We had saved enough money to take recognised athletes with a large social media following, all dressed in our clothing, to the Bodypower fitness expo where we had an open stand. [7], While at university between 2010 and 2013, he worked for Pizza Hut as a delivery boy earning 5 an hour. Confronted with the cocaine video, Francis who has almost 200,000 followers on Instagram said: Four years ago, I was a young guy. Or by navigating to the user icon in the top right. "It was four years of mayhem. [16][8] Francis later left university and quit his job at Pizza Hut to focus on the company full-time. Gymshark is now available in 230 countries via its 14 online stores, and it employs over 900 people, with offices in five regions. This channel is to give you. The new store stays true to Gymshark's roots and is designed to foster a spirit of community among . ", https://en.wikipedia.org/w/index.php?title=Ben_Francis&oldid=1151168304, This page was last edited on 22 April 2023, at 10:00. Gymshark, on the other hand, launched its Luxe tracksuit. I remember years ago when the brand was a lot smaller and they had both just bought Audi R8's. . Save my name, email, and website in this browser for the next time I comment. Ben founded Gymshark when he was 19 years old, while still a student at Aston University. We were inundated with people who wanted to meet the athletes, wanted to see the productand [we] sold out at the event, says Francis. Ben Francis is a British businessman and entrepreneur, born on June 4, 1992. Im not her to disrespect anyone or say anything but I want my part to be known Im not having Ben going on peoples podcasts telling people that I left in 2014 because its not true.. Around this time, Francis visited the Bodypower expo. After their first year, both Lewis and Ben decided to quit and focus on Gymshark full time - and their risk paid off. I want to share my journey and everything I've learnt on the way. "I got caught up in a moment and made a stupid mistake that I massively regret. This means that we may include adverts from us and third parties based on our knowledge of you. So, he created a website, launched Gymshark, and got to work. Met Gala 2023 live: Rihanna finally arrives! [11] [11], He began manufacturing the products from his parents' garage in Bromsgrove, using a sewing machine and screen printer he bought with 1,000 of savings. [26] Francis currently owns more than 70% of the company, which is worth 700 million. Lewis, who is in the process of buying a 1.5m house, is a big gym-goer and has always been passionate about exercise and fitness. [31][32], In 2020, Francis was awarded the EY UK Entrepreneur of the Year Award. Instead, at age 17, he joined his local gym and started taking IT classes, applying himself to his new passions by watching fitness videos on YouTube and building rudimentary apps that helped users create workout calendars and access fat loss exercises. Whilst still there, and with cash in the bank from skimming margins, Ben and Lewis were able to stock all the gym wear they could get their hands on. It was a huge learning curve. Ben Francis is the co-founder of sportswear brand Gymshark. 3. Genealogy for Lewis Morgan (1672 - 1734) family tree on Geni, with over 230 million profiles of ancestors and living relatives. "We learnt to be curious and always ask questions. And while Francis had held talks with banks and investors about a possible IPO, he says hes not planning on taking Gymshark public anytime soon. This means it can easily react to changes in the market and doesnt have to deal with expensive retail store costs. "I really think Gymshark can be the U.K.'s answer to those brands," he said. Our friendship group became very small pretty quickly. To mark its ten-year anniversary, the sportswear brand is opening its first bricks & mortar store, taking a 18,000 sq ft premium retail unit on London's Regent Street. Founded in the West Midlands, UK in 2012 to now being valued at over 1 Billion Dollars. Gymshark was founded by Ben Francis and his school friend Lewis Morgan in 2012. When we couldn't afford product to sell, we drop shipped. In 2015, he stepped down as CEO in what he described as a heartbreaking decision. Francis has stayed close to his roots in the U.K.'s West Midlands, with Gymshark headquartered in Solihull, just outside of Birmingham.