JD Sports has announced a multi-million-pound investment in the Yorkshire-based athleisure retailer Gym King, taking a “significant” minority stake in the firm.
Founded by Jay Parker in 2015, Gym King specializes in athleisure and trend-driven performance wear.
JD Sports’ investment in the retailer been designed to fast track growth and international expansion, specifically into the USA, Europe and Asia where JD already has a “large footprint” with over 2,500 stores, as well as localised trading websites.
JD Sports executive chairman Peter Cowgill said: “We have long admired the Gym King business and have increasingly recognized its potential as we’ve worked together in recent years.
“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.”
Parker said: “This strategic partnership will help Gym King capitalise on the huge opportunity ahead of us, becoming a world renowned ‘lifestyle performance’ brand.”
“Our core brand values – Mindset, Resilience & Community align perfectly with the JD business and consumer.
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 Sports will create a strong platform for accelerated growth.”