Gymshark co-founder Lewis Morgan joins AYBL with “significant investment”
AYBL Group’s expansion plans have been given a major boost, with Gymshark co-founder Lewis Morgan ready to make a “significant investment” in the already-£50 million-valued women’s activewear brand.
Morgan, who exited Gymshark 15 months ago, will now take the role of group executive chairman with an ambitious aim to grow the business “into the biggest e-commerce group in the UK”.
He will oversee company strategy and work closely with AYBL’s founding brothers and now-joint CEOs Reiss and Kristian Edgerton.
Three-year-old AYBL had record profits of £2.8 million in the pandemic year of 2020-21 and it expects revenues of more than £20 million and profits of £4 million in the 2021-22 year.
It now ships 400,000+ orders to 160 countries+ annually with the US, UK, Germany, Ireland, Netherlands and France being its strongest markets.
The Edgertons also teamed up with fashion influencer Alice Cross in June 2020 to launch women’s fashion brand BOA (Because of Alice).
Reiss Edgerton said: “AYBL has gone from strength-to-strength since we started it three years ago. Having recently added BOA to the group and expanded our HQ to meet growing demand, it feels like the perfect time to introduce Lewis’s wealth of expertise to the business, in what is sure to be an exciting new chapter. We have huge aspirations and hope to one day become the biggest e-commerce group in the UK.”
Morgan sold his remaining stake in Gymshark last year but has been “eager to step back into the industry”.
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