WHAT IS GYMSHARK ?
Gymshark is a British fitness brand manufacturer and retailer based in Solihull, England. The brand was founded in June 2012 by two friends; Ben Francis and Lewis Morgan. The idea was initiated by one of the friends while delivering a pizza order. Initially, they started in a garage and all orders were on a made-to-sell basis using a sewing machine and screen printer that they had bought from their pocket money. In 2013, they exhibited in a Body Power Fitness Trade Show and sold out all of the stock on the first day.
Now, years later, GymShark becomes a global fitness apparel and accessories brand, manufacturer and online retailer. The brand has created such a hype that their newly launched products are sold out in hours.
A breakdown of all the achievements of the startup
- GymShark products are directly sold to the consumers in 180 countries via websites in 13 different languages.
- The brand’s Solihull based headquarter can accommodate 450 people, while currently they have a staff of 490 people globally.
- In 2019, GymShark made sales of £175.2 million with a profit of £18.6 million and half of its turnover was generated from the USA.
- Founder Ben Francis was in Forbes 30 under 30 list and has a net worth of $10M.
- They got the No.1 slot in the prestigious 2016 Sunday Times Virgin Fast Track 100.
- The company’s full year revenues by July 2020 were £268 million.
GYMSHARK SUCCESS FORMULA
The startup definitely had explosive success after they got the early trade show but they also have cracked the code for Social Media Marketing and Influencer Marketing. GymShark was one of the brands making extensive use of Influencer Marketing by partnering with social media personalities, Youtubers such as Nikki Blackketter and Lex Griffin. As of 2020, the company is paying 125 influencers to market their products on social media. GymShark’s official Instagram account has 5.1 million followers.
The main focus of the brand is around social media and brand strategy to be benefited by the power of community. Not everyone can be a part of their marketing teams. It doesn’t work on
“I really want to be a part of this”, but the founders have set the criteria for this purpose. According to GymShark,
“The only advice we can offer is to identify what makes you unique and how that unique nature or ability can inspire others to become greater versions of themselves.”
Therefore, they choose the ones that have the power to make their brand catch fire, who appreciate being the part of the circle and who will be loyal to them to the very end.
A CATCHY BLACK FRIDAY SALE
Black Friday tends to be the most important shopping season of the year and retailers expect it to be profitable. It is the holiday after Thanksgiving and a holiday season. But GymShark does not require a sale season to clear the stock but they are the part of it to ensure its brand awareness and sales are maximized during this crucial retail season. On GymShark’s FAQs page it is stated that Suffice to say, we rarely have sales, but every year they give us two big sales and Black Friday is one of them.
In 2017, the brand initiated a Black Friday sale which resulted in a huge influx of sales. They started the campaign and called it Blackout and it lasted for 7 days. Every day they use an array of different content with featured models wearing GymShark’s athleisure and also include the user generated content from fans who are truly brought into the campaign. The unexpected response from people crashed the website and most of the items got sold out in hours but this increased the exclusivity factor to the brand. Despite all the difficulties they faced, the sale went extremely successful and the brand got the hype that they deserved.
GYMSHARK DISCOUNTS AT STUDENT BEAN
If you need that motivation to get down to the gym, first treat yourself to some gym wear and accessories. GymShark has all the trends you want in a uniquely masterful way and at an affordable price. Work out in style in the range of their activewear which is a perfect combination of comfort and practicality, Seamless designs and eye-catching colors to revolutionize the training experience.
For all the students out there, trying to achieve their fitness goals but also want to have the ultimate professional experience, student bean has some amazing discounts for you. GymShark is offering discounts for students after verifying their student profile at Student bean. The discount is on their WTFlex range.
Visit the student beans website and unlock a 10% discount at GymShark with Student Beans ID.
KEY TAKEAWAYS FROM GYMSHARK SUCCESS STORY
The startup which took off from a garage has surely cracked the success code. They have made a name in the market with quality products and affordable prices and all of this in a span of few years. Their success story certainly has some wisdom that you can steal and try them out.
Love it or hate it, but in this digital era you have to be advanced and grab the fact that all the influencers online certainly have some impact on this generation. Turn them into your ambassadors, build your product with them and you both will achieve your goal.
SOCIAL MEDIA CHANNELS
Social media is like an online store so you can show your products to the entire world at once by using any social networking site. Be it Facebook, Instagram, Twitter, Youtube or Tiktok, these platforms are built to reach the masses. Find the type of product audience are engaging with and build customers.
Blogs are another form of amazing marketing technique. Don’t overlook it because it is a great way to connect with the audience. Give it the importance and value they deserve and trust the process.
It is a psychological phenomena and can bring massive success to the business. This can make customers crave for your product.