Gymshark is a British gymwear label, founded and still controlled by Ben Francis, with its companies registered in Solihull in the West Midlands. Its own delivery page, read on 22 September 2026, lists India among the countries it is “currently unable to ship or operate from”.
On the same day, Myntra, the Indian fashion marketplace, carried 98 Gymshark listings. On the forty records we read in full, the seller of record was a third-party marketplace seller. This audit covers who owns Gymshark, where it is made, what its product pages publish and what it costs in India.
Gymshark is a private UK company controlled by its founder, with General Atlantic having bought a 21% minority stake in 2020. It has no Indian company, store or named partner, and its site does not deliver here. Myntra listed 98 Gymshark products on 22 September 2026, at a median ₹2,159 paid against a median MRP of ₹4,999; its garments are made by suppliers in countries including Bangladesh, Vietnam and Turkey.
Snapshot
- Brand owner
- Gymshark Topco Limited, company 16577203, England and Wales — private, no stock-exchange listing
- Control
- Founder Ben Francis, the only person with significant control of Gymshark Topco on the UK register
- Outside investor
- General Atlantic, 21% acquired in August 2020 at a valuation of over £1 billion — a minority stake
- Trading company
- Gymshark Ltd, company 08130873, incorporated 5 July 2012 — the seller on the UK site
- Revenue, year to 31 July 2025
- £646m, with pre-tax profit of £7m — as reported by the trade press on 12 March 2026, not read from the filed accounts
- Delivery to India from gymshark.com
- Not offered — India is on the “unable to ship or operate from” list
- Indian company, store or named partner
- None found
- Seller of record on Myntra
- A third-party marketplace seller, on 40 of 40 records read 22 September 2026
- Declared country of origin on Myntra
- Bangladesh 10, Vietnam 9, Turkey 8, Jordan 7, Sri Lanka 4, Cambodia 2
- Price band in India
- No tier set — the only Indian prices are a third-party seller’s
Who owns Gymshark
Gymshark sits on three UK companies, all registered at the same Solihull address: 3 Central Boulevard, Blythe Valley Park. Gymshark Ltd, incorporated in 2012, is the trading company, and the UK terms name it as the seller on the British site. Above it sit two holding companies.
- 2012Gymshark Ltd incorporated, 5 July
- 2020Gymshark Group Limited incorporated, 1 July
- Aug 2020General Atlantic acquires 21%
- Jul 2025Gymshark Topco Limited placed at the top of the group
The 2025 step was an internal reorganisation, not a sale to an outsider.
The register shows what happened on 31 July 2025. Gymshark Topco, incorporated on 11 July 2025, became the holder of “75% or more” of Gymshark Group on that date, and Ben Francis ceased to be a person with significant control of Group the same day. At Topco he is the only one, notified from 11 July 2025. Gymshark’s own tax strategy of July 2026 describes Topco and its UK subsidiaries as the Group.
That is a new holding company placed above the old one, with the founder at the top of both. No filing we read names General Atlantic as a person with significant control, which fits a stake below 25%.
The founder’s stake, two readings
Two documents give Francis’s holding, from different dates. General Atlantic’s release of 14 August 2020 says it “acquired 21% of Gymshark” and that Francis “increased his stake to over 70%”. The UK register has recorded him since 2020, at Group and then at Topco, in the band “more than 25% but not more than 50%” of shares and votes.
The two figures may not be measured on the same basis, so we print both. Either way, Francis is the only person with significant control on the register, and no outside holder appears there. That is why this page tags Gymshark as independent: a 21% minority stake is investment, not ownership.
General Atlantic’s link to the board is on the register too. Melis Kahya Akar, the General Atlantic executive quoted in the 2020 release, was among the directors appointed to Topco between July and August 2025. The price General Atlantic paid was not disclosed in the 2020 release.
What the business earns
Gymshark’s financial year ends on 31 July. The consolidated accounts to 31 July 2025 were filed at Companies House in April and May 2026, and the next set is not due until April 2027. The figures below are the trade press’s reports of those results, published on 12 March 2026; we did not take them from the filed accounts.
Revenue was £646m, against £607.3m the year before. EBITDA was £53.3m, pre-tax profit £7m against £11.9m, gross margin 62.3%, and cash over £37m. One outlet gave the prior year’s revenue as £603m rather than £607.3m; the reports differ, and we print both. Francis described the company as “investing to lay the foundations for its future growth”.
So the business made a profit, a smaller one than the year before, on higher sales. None of the results coverage we read mentions India.
Does Gymshark sell in India?
Not by any route Gymshark names. Its delivery-information page, marked “Updated this week” when we read it, says: “Unfortunately, we’re currently unable to ship or operate from the following countries and regions:” India is on the list that follows, with Pakistan, Cambodia, Russia and Iran among others.
The same page prices delivery in US dollars to a Rest-of-World list that includes Singapore, Japan, the Philippines, Thailand, Hong Kong, Indonesia and Turkey. India sits on the other list.
The store locator names ten shops: New York, London, Manchester, Amsterdam, Dubai and Kuwait. None is in India. The latest modern slavery statement and the July 2026 tax strategy do not mention India as a market.
A companies-register mirror shows no Indian company carrying the Gymshark name; by comparison, adidas has two Indian companies on the same register.
Outside India, Gymshark does sell through other retailers. Dick’s Sporting Goods became a US wholesale partner in October 2025, and Breuninger and Engelhorn in Germany were reported in March 2026. None of those arrangements touches India.
Gymshark listings on Myntra
Myntra has a Gymshark brand listing, and on 22 September 2026 it held 98 products. We read forty product records in full for the seller of record, the declared country of origin and the manufacturer line.
The seller of record was the same third-party marketplace seller on all forty, and the manufacturer line on all forty gave a Solihull address.
| Declared country of origin | Records, of 40 | On Gymshark’s 2025 factory list as a garment country? |
|---|---|---|
| Bangladesh | 10 | Yes |
| Vietnam | 9 | Yes |
| Turkey | 8 | Yes |
| Jordan | 7 | Yes |
| Sri Lanka | 4 | Yes |
| Cambodia | 2 | Yes |
Every origin declared on those forty records is a country where Gymshark’s own factory list places garment makers, so the declarations are consistent with the brand’s published sourcing map.
Every origin declared on the 40 Myntra records we read is a country on Gymshark’s own 2025 factory list.
What Gymshark costs in India
We read the whole shelf, all 98 listings, on 22 September 2026. The median MRP was ₹4,999 and the median price actually charged ₹2,159, which is 43.2% of the tag. Ninety-two of the 98 were reduced, and the shelf ran on 22 distinct MRPs. Bras were the largest category at 27 listings, then tights at 21 and track pants at 12.
At home the brand’s own list prices, read on its UK store the same day, include VAT, as its UK terms state. The Crest T-shirt, style A1A3J-BBBB, is 100% cotton at 180gsm and costs £20. The women’s Vital regular leggings, B1A2B-UCW7, are £45; the Arrival 7-inch shorts, A2A1L-BBBB, £22; and the Sport 7-inch shorts, A1B3L-BCBF, £30.
This page puts no rupee figure beside those pound prices and computes no gap. There is no Indian storefront to compare against, and no marketplace listing we found carried one of those UK style codes. Our audits of Uniqlo, H&M and Zara could match a retailer’s own product code across markets. Here the two price lists are separate facts, and they stay separate.
We also set no price tier. A tier on this site describes what a brand charges in India, and every Indian price here is set by a third-party seller the brand does not name.
Where it is made
Gymshark owns no factories. Its modern slavery statement for the year to 31 July 2025 says “we do not own or operate the facilities where our products are manufactured”, and that the full supplier list is published through Open Supply Hub and on its own site. The statement reports Tier 1 production factories in high-risk countries falling from 29 to 21, and names Bangladesh, Cambodia, China, Egypt, Jordan and Pakistan as high-risk sourcing countries.
The 2025 factory list, which carries no “correct as of” date, places garment makers in countries including Vietnam, Turkey, Sri Lanka, Bangladesh, Cambodia, Jordan, Egypt, the UAE, Romania, the UK and the US. The previous year’s statement named the Fair Labor Association, the International Accord in Bangladesh, Cascale and Open Supply Hub as memberships, and Arche Advisory and QIMA as auditors.
India does appear on that list, one step back. It shows up only at the yarn and raw-material stage: Auro Textiles, listed as a unit of Vardhman, at Baddi; Sarla Performance Fibers; Dodhia Synthetics at Kalyan; and Maral Overseas at Noida. They are listed as yarn suppliers to garment groups such as MAS in Sri Lanka. Indian yarn is part of Gymshark’s published supply chain, even though Gymshark does not ship to India.
What stands behind the product claims
Gymwear sells on function, and a function word is a claim. We asked of each whether a number, a standard or a test house stands behind it on the page where it appears.
| Claim | Number published? | Standard or certifier named? |
|---|---|---|
| “Sweat-wicking tech” (Vital leggings, Arrival shorts) | No | No |
| Dope dyeing that “uses less water, energy and chemicals” (Vital leggings) | No | No |
| “100% Recycled Polyester” (Sport shorts) | Yes, 100% of the fabric | No — no recycled-content certification named |
| A knitting method producing “almost one third of the fabric waste” | Yes, a ratio | No |
| Cotton traceability | Cotton “nearly 40% of the fibres we bought” in FY24 | Oritain named as traceability partner |
The performance wording publishes no wicking rate, drying time or named test. The material claims give figures — “100% recycled polyester” is a number a label can be held to — and no certification scheme is named beside it. The cotton claim names a partner, Oritain.
We did not test any garment; this is a record of what the product pages publish.
Can a buyer check that it is genuine?
Not against anything Gymshark publishes for a garment. There is no code, hologram, QR check or serial lookup. Its guidance on fakes covers websites and accounts instead: “If the URL isn’t gymshark.com, it’s not the real deal”, and an account without a verified tick “is not us”. Suspected fakes go to an internal brand-protection team.
For an Indian buyer that guidance is hard to apply, because gymshark.com does not deliver here, and Gymshark publishes no list of authorised sellers.
So the practical check is the statutory declaration on the package. Read the seller, the country of origin and the MRP line when the parcel arrives, and keep the invoice.
The Indian record
Indian Kanoon, the public database of Indian court judgments, carries no decided case involving Gymshark under “gymshark” or “gym shark” as searched on 22 September 2026. For comparison, a search for Skechers returns 295 results.
That finding is limited to one database and two search terms.
Who Gymshark is for
A buyer who already knows Gymshark’s fits and wants them in India has one visible shelf, and it trades at a median of 43.2% of MRP; Gymshark names no Indian seller. A buyer who wants a label with a named Indian company behind it has other options, including the Indian outdoor brand Wildcraft.
Common questions
Who owns Gymshark?
Gymshark Topco Limited, a private UK company whose only registered person with significant control is founder Ben Francis. General Atlantic bought a minority 21% stake in August 2020. There is no stock-exchange listing.
Is Gymshark an Indian or a British brand?
British. Its companies are registered in England and Wales, with registered addresses in Solihull. No Indian company carrying the Gymshark name was found on a companies-register mirror.
Does Gymshark ship to India?
No. Its delivery page, read on 22 September 2026, lists India among the countries it is “currently unable to ship or operate from”. It has no Indian store and names no Indian partner.
Who sells Gymshark on Myntra?
A third-party marketplace seller was the seller of record on all 40 records we read on 22 September 2026. Gymshark itself names no Indian seller or distributor.
Is Gymshark cheaper in India than in the UK?
This page does not compare them. The UK prices, such as £20 for the Crest T-shirt, include VAT; the Myntra shelf showed a median ₹2,159 paid against a median ₹4,999 MRP. With no Indian storefront and no matched style code, the two are separate facts.
How can I tell if Gymshark gear is genuine?
Gymshark publishes no code or tag check for garments. Its guidance is that a site not at gymshark.com is not Gymshark. Read the declaration on the package and keep the invoice.
References
- Gymshark Support, Delivery Information, read 22 September 2026 — the “unable to ship or operate from” list including India, and the Rest-of-World destinations priced in US dollars
- Gymshark store locator, read 22 September 2026 — ten stores in the US, UK, Netherlands, UAE and Kuwait, none in India
- Companies House, Gymshark Topco Limited, 16577203 — incorporation on 11 July 2025, holding-company activity and the Solihull registered address
- Companies House, Gymshark Topco persons with significant control — Ben Francis as the only one, “more than 25% but not more than 50%”, from 11 July 2025
- Companies House, Gymshark Topco filing history — directors appointed July to August 2025, including Melis Kahya Akar, and the group accounts to 31 July 2025 filed 20 May 2026
- Companies House, Gymshark Group Limited persons with significant control — Topco holding “75% or more” from 31 July 2025, and Ben Francis’s entry from 1 July 2020 to 31 July 2025
- Companies House, Gymshark Group Limited filing history — consolidated accounts to 31 July 2025 filed 22 April 2026
- Companies House, Gymshark Ltd, 08130873 — incorporation on 5 July 2012 and the Solihull registered address
- Gymshark UK terms and conditions — Gymshark Ltd named as the seller, and prices stated to include VAT
- Gymshark group tax strategy, July 2026 — Gymshark Topco Limited and its UK subsidiaries described as the Group
- General Atlantic release, 14 August 2020 — 21% acquired at a valuation of over £1 billion, and Ben Francis’s stake “over 70%”
- FashionNetwork, 17 August 2020 — corroborates the 21% stake and the undisclosed amount
- FashionNetwork UK, 12 March 2026 — trade-press report of the results to 31 July 2025: revenue, EBITDA, pre-tax profit, gross margin, cash, the Francis quote, and the German wholesale partners
- SGI Europe, March 2026 — trade-press report corroborating the same results
- FashionUnited, 12 March 2026 — the prior-year revenue given as £603m
- Retail Dive, 28 October 2025 — Dick’s Sporting Goods as Gymshark’s first US wholesale partner
- Companies-register mirror, search “gymshark” — no Indian company carrying the Gymshark name; Adidas India Private Limited and Adidas India Marketing Private Limited listed for adidas
- Myntra, Gymshark brand listing, read 22 September 2026 — 98 products and prices, and 40 records giving seller of record, country of origin and the manufacturer line
- Gymshark UK, Crest T-shirt, A1A3J-BBBB — £20, 100% cotton, 180gsm
- Gymshark UK, Vital regular leggings, B1A2B-UCW7 — £45, and the sweat-wicking and dope-dyeing wording
- Gymshark UK, Arrival 7-inch shorts, A2A1L-BBBB — £22, and the sweat-wicking wording
- Gymshark UK, Sport 7-inch shorts, A1B3L-BCBF — £30 and “100% Recycled Polyester”
- Gymshark Support, sustainability commitment — the fabric-waste ratio, the cotton share and Oritain
- Gymshark modern slavery statement, year to 31 July 2025 — no owned factories, the published supplier list, high-risk Tier 1 factories from 29 to 21, and the high-risk countries named
- Gymshark modern slavery statement, FY23-24 — memberships and the auditors named
- Gymshark 2025 factory list — garment countries, and the Indian yarn and dyeing suppliers named
- Gymshark Support, fake accounts and websites — the website and verified-account guidance quoted
- Indian Kanoon, search “gymshark”, 22 September 2026 — no decided case found; a search on “skechers” returns 295 results
Gymshark itself is unusually easy to read. The owner, the founder’s control, the minority investor and the latest results are all on the record, and the factory list is public down to the Indian mills spinning its yarn. That is a lot of published paper for a private company.
The Indian picture is thinner. Gymshark does not ship to India and names no Indian partner; the 98 Myntra listings we read traded at a median ₹2,159, well under half the median MRP, and their declared origins match Gymshark’s published sourcing map. At that price the basics are fair value; at full MRP, much less so.
A well-documented British gymwear brand; in India, buy it on discount, read the package declaration and keep the invoice.
