JD Sports acquires stake in Gym King
JD Sports has announced a multi-million investment in the Gym King athleisure and performance wear brand.
The sportswear retailer has taken a significant minority stake in the business and will look to fast track growth and international expansion, specifically in the US, Europe and Asia where it already has a strong presence.
Gym King was established by Jay Parker in 2015.
Parker said: “We have continued to see impressive growth over the last 12 months with a focus on our own online, direct to consumer offering alongside our premium wholesale distribution to selected retail partners. The clear synergies with JD will create a strong platform for accelerated growth.”
Peter Cowgill, executive chairman of JD Sports Fashion, added: “We have long admired the Gym King business and have increasingly recognised its potential as we’ve worked more closely together. Investing in Gym King was a natural follow on to strengthen our partnership and is testament to the work Jay and his team have put in over recent years. The future for Gym King has a great number of opportunities and we are delighted to be part of that journey.”
