Gymshark Announces 65 US Redundancies

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.

Learn more:

Activewear’s Biggest Disruptors

Breaking into the $384 billion sports apparel market is no easy task, but fast-growing start-ups are stealing market share by creating specialised, fashion-forward products around underserved interes

Credit: Source link






Puma launches collection with designer LaQuan Smith

Global sports company Puma and New York-based designer brand LaQuan Smith officially debuted on Thursday the ‘Puma x LaQuan Smith’ collection.First teased on...

DSquared2 and Manchester City to launch capsule collection

Luxury label Dsquared2 is releasing a capsule collection with top-flight football club Manchester City that will officially launch on 11 May.It celebrates the...

On Stranger Things, Megan Thee Stallion Humorously Approaches Natalia Dyer About Dumping Steve

On the multi-part love triangle in Stranger Things , Megan Thee Stallion has...

High school senior accepted into 180 colleges, awarded $9 million in scholarships│Black EOE Journal

Especially coming out of the pandemic, the need for job security has increased for job seekers across the country. While many industries and...

Dermatologists Share the Best Acne Treatments of the Last 5 Years

Are you among the countless individuals who find themselves in a never-ending battle against acne breakouts? Dealing with constant flare-ups can be both...
en English