Gymshark names former Asos chief Mat Dunn as new CFO
Gymshark has announced former Asos interim chief Mat Dunn as its new chief financial officer, as the e-commerce sportswear retailer gears up to open its first physical store.
Dunn, whose departure was announced from the fast fashion brand a month ago, will join Gymshark in early 2023.
His CV boasts a four year stint as the London-listed firm’s CFO as well as stepping up to the role of interim chief briefly too.
“Gymshark is a brand I’ve admired from afar for a long time,” Dunn said. “There are very few British companies that could become a global leader in such a short space of time.”
The brand’s founder and CEO, Ben Francis, said Dunn would “bring a new dimension, both to our financial operation and Gymshark as a whole and he will undoubtedly help us grow into the company I truly believe we can be.”
The retailer is preparing to open its Regent St flagship store on 29 October, after making its mark as an e-commerce success story.
Gymshark pocketed a £45.4m pre-tax profit in the year to July 2021, with its 29-year old founder rising in the Sunday Times Rich List, ranking 226nd.
The CEO and founder, who has a net stake of 70 per cent in Gymshark, created the brand as a teenager in 2012.
Gymshark’s Francis sold a 21 per cent stake to private equity General Atlantic in August 2020.
Last year, there was a flurry of speculation over the possibility of the brand making a blockbuster public float, after receiving a £1bn valuation.
City sources told Sky News the company had been “aggressively” pitched to by investment banks, last October. They said an initial public offering of its shares would most likely be in London.
Founder Francis told CityA.M. in November 2021 that there were no “imminent” plans for a public listing of the company.