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Gymshark was founded by school friends Ben Francis and Lewis Morgan in 2012. [9] Both aged 20, they set up the brand while studying at university. [10] Francis studied at Aston University [10] before dropping out, and worked as a delivery driver for Pizza Hut when he first established the company. [11]
[20] In 2013, he exhibited Gymshark's products at the BodyPower fitness trade show in Birmingham. [18] After the trade show ended, a tracksuit went viral on Facebook, generating £30,000 in sales within 30 minutes. [18] [11] Francis later left university and quit his job at Pizza Hut to focus on the company full-time. [16]
As coupons have a negative relationship with time, customers with a high value of time will not find it worthwhile to spend 20 minutes in order to save $5 only. Meanwhile, customers with a low value of time will be satisfied by getting $5 less from their purchase as they tend to be more price-sensitive. [ 49 ]
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