Gymshark has started talks for an initial public offering (IPO) in London, one year after the company hit unicorn status.
The company’s founder, Ben Francis, and his private equity backers have begun to produce preliminary plans to list his brand, according to Sky News.
Talks have been held with institutional investors and investment banks.
“We regularly speak to financial institutions to ensure we are connected to the business world and we continue to learn,” Gymshark told Sky News.
“Any recent conversations we have had have been about introducing these organisations to Gymshark and our journey so far.”
While the talks are still in its early stages, the listing could be among the most hotly anticipated floatations of a British consumer facing company since Deliveroo’s disastrous IPO earlier this year.
Gymshark was founded in 2012 by Francis in his parents’ garage in Birmingham before quickly becoming a stalwart of the activewear industry, serving customers in over 130 countries.
The locations hasn’t been confirmed but analysts expect London will be the host after city sources say Gymshark has been “aggressively” pitched to by investment banks in recent months.
The announcement could come within the next few months, according to Sky News.
There are concerns however after the underwhelming performance of London-listed online retail stocks including Asos, Boohoo and THG Holdings.
Francis last year sold a 21 per cent stake to private equity firm General Atlantic, however maintains the controlling stake in the company, making him one of Britain’s wealthiest people under 30.