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Growing International Sales Boost Gymshark Revenue and Profits

Gymshark reported a 54 percent increase in revenue.
Gymshark reported a 54 percent increase in revenue. (Gymshark)

The UK-based activewear brand reported a 54 percent increase in revenue in the year ending July 31 2021, according to accounts filed to the UK’s Companies House.

Buoyed by growing international sales, net revenue totalled £401.9 million ($505.6 million), up from £260.7 million the previous year. Pre-tax profits increased to £45.4 million compared to £30.4 million in the same period the year before, the filings show.

Sales in the US accounted for 45 percent of the company’s total revenue.

In January, the company signed a lease worth £21.9 million for retail space on London’s Regent Street and is expected to open its first permanent store later this year.

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