Zinger Key Points
- Ben Francis went from starting a business to becoming a billionaire in just 11 years — he is the youngest billionaire in the U.K.
- Gymshark started by selling supplements through dropshipping and later pivoted to fitness apparel.
- Discover Fast-Growing Stocks Every Month
From delivering pizzas to dominating the billionaire ranks, Ben Francis's entrepreneurial journey has been anything but ordinary.
The 30-year-old whizz-kid, now the youngest billionaire in the U.K. and one of the youngest in the world, built his Gymshark fitnesswear empire from a humble family home setup.
Thanks to a sewing machine gifted by his grandmother, youthful grit, and a stint at Aston University, Francis transformed his collegiate venture into a £1.25 billion ($1.5 billion) global powerhouse.
Now holding 70% of the Gymshark stake — despite selling a 21% slice to General Atlantic for $300 million — Francis's rise captures an incredible narrative of ambition and success, shared only by an exclusive 0.000033% of people worldwide.
Read Also: Until 2016 it was illegal for retail investors to invest in high-growth startups. Thanks to changes in federal law, this Kevin O'Leary-backed startup lets you become a venture capitalist with $100.
At the outset, the company's operations revolved around selling supplements through dropshipping, according to Entrepreneur, which covered the young founder's success. However, the company changed course when Francis realized a dearth of fitness apparel that could fit him comfortably.
The discovery spurred the entrepreneur to create a clothing line that blended American bodybuilding fashion with tapered European designs. In the ensuing two years, Francis, with the help of his grandmother, personally crafted the products using a sewing machine and a screen-printer.
With a bit of luck and a lot of tenacity, Francis’ brand took off after it made an appearance at an in-person fitness expo in the U.K. The company went from doing roughly $400 in revenue per day to about $50,000 in 30 minutes, leading the founder to drop out of college to focus on the brand full-time.
Although Francis initially stepped down as CEO in 2015, he continued to work in different roles, including as chief technology officer, chief marketing officer and chief product officer. He resumed the role of CEO in August 2021.
And despite the controversy surrounding a video that appears to show Francis snorting a white substance with friends, Gymshark has continued to grow in popularity and is worn by A-list celebrities and athletes.
Francis has said that he has ambitious plans to make Gymshark the U.K.'s answer to sportswear brands like Nike, Lululemon, Under Armour, Adidas, and Puma, and believes the brand can also become global, with North America one day accounting for 50% of its revenue.
Gymshark has already expanded beyond apparel with the launch of the Gymshark Conditioning App and plans to develop additional interactive products.
This story is part of a new series of features on the subject of success, Benzinga Inspire, and it has been updated.
Photo: Wikimedia Commons
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.