WOMEN’S gymwear brand AYBL is set to accelerate its expansion following a significant investment from Bromsgrove’s Gymshark founder Lewis Morgan.
Based in Redditch’s Broad Ground Road, The AYBL Group, valued at £50million, brings together AYBL and women’s fashion brand Because of Alice (BOA).
Founded by brothers Reiss and Kristian Edgerton in 2018 in the living room of their Bromsgrove home, the firm saw record profits of £2.8m last 2020-21.
Lewis Morgan will take the role of executive chairman at the group with the Edgerton brothers as joint chief executives.
The group offers affordable quality with projected revenues this financial year of £20m and profits of £4m.
The firm now ships over 400,000 orders to more than 160 countries each year, establishing a particularly strong presence in the USA, UK, Germany, Ireland, Netherlands and France.
The brothers teamed up with fashion influencer, Alice Cross, in June 2020 to form Because of Alice.
The Edgerton brothers and Lewis Morgan first met at school in Bromsgrove, where they developed a longstanding friendship.
Reiss said: “I’ve known Lewis for over 20 years, so we’re in the fortunate position to already have the foundations of a relationship based on trust – something that was essential when considering teaming up with an investor.
“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’ wealth of expertise to the business, in what is sure to be an exciting new chapter.”