The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
The UK-based activewear brand made the job cuts as part of a restructuring at its US offices in Denver, a spokesperson for the company told BoF on Thursday.
”We are taking this move purely for commercial reasons to centralise our operations and continue to safeguard the future of the business,” the spokesperson said in an email statement.
The direct-to-consumer business, which was valued at £1 billion ($1.2 billion) following an investment from growth equity firm General Atlantic in 2020, opened its first flagship store on London’s Regent Street in October.
Gymshark joins a growing number of fashion companies, including Everlane and H&M, who reduced corporate headcount in recent months.
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Antitrust enforcers said Tapestry’s acquisition of Capri would raise prices on handbags and accessories in the affordable luxury sector, harming consumers.
As a push to maximise sales of its popular Samba model starts to weigh on its desirability, the German sportswear giant is betting on other retro sneaker styles to tap surging demand for the 1980s ‘Terrace’ look. But fashion cycles come and go, cautions Andrea Felsted.
The rental platform saw its stock soar last week after predicting it would hit a key profitability metric this year. A new marketing push and more robust inventory are the key to unlocking elusive growth, CEO Jenn Hyman tells BoF.
Nordstrom, Tod’s and L’Occitane are all pushing for privatisation. Ultimately, their fate will not be determined by whether they are under the scrutiny of public investors.