Ben Francis, co-founder and chief executive of the athleisure brand Gymshark, is reportedly in discussions to repurchase a portion of the stake he sold to the American private equity firm General Atlantic six years ago. The talks involve negotiating the potential valuation, the share size to be reacquired, and financing options, though Francis is not seeking to buy back the entire holding.

Gymshark, which was founded by Francis and Lewis Morgan in Bromsgrove in 2012, initially focused on selling protein shakes and supplements before shifting to apparel. Francis taught himself to sew with family assistance and began producing hoodies marketed through gym-oriented Instagram influencers. This approach helped Gymshark grow into one of the United Kingdom’s leading global fashion brands.

In 2020, Francis sold a 21 percent stake to General Atlantic to fund the company’s expansion into the US and Asian markets. Following that transaction, he retained about 70 percent ownership, and Gymshark attained unicorn status with a valuation exceeding £1 billion. Francis’s personal wealth is now estimated at approximately £800 million.

The Birmingham-based company reported sales of £647 million for the fiscal year ending July 2025, marking its 13th consecutive year of growth. However, pre-tax profits fell to £6.9 million from £11.8 million the previous year. The decline was attributed to substantial investments in physical retail locations in New York, Dubai, Amsterdam, and London, as well as customer-focused free events aimed at brand engagement.

Gymshark has faced increased competition and pressure on consumer spending, leading to a slowdown in growth. In response, the company undertook a restructuring last year that involved job cuts affecting hundreds of employees, with the goal of strengthening its European operations and enhancing customer service. The company has indicated that reducing discounting and improving marketing efforts have contributed to a recovery in sales momentum.

Gymshark has long been viewed as a strong candidate for an initial public offering, though neither the company nor General Atlantic offered comments on the current buyback discussions.