It added: “Looking at the incredible journey we’ve been on since 2012, Niran has played a huge part in the growth, development and culture of the Gymshark brand you see before you today.”

The company also said that Chana “leaves an indelible footprint, and his legacy will live on here as we strive to become the most iconic British brand of all time”.

Chana played a major role in Gymshark opening its first physical store ​last October, an ‘experiental’ flagship in a prime location on London’s Regent Street

In April, Gymshark Group also filed its accounts for the year to July 2022 that showed falling profit for the first time due to margins being eroded by the need to cut prices and other exceptional costs.

Profit was also affected by investment in setting up US distribution centres, as well as restructuring costs, its debut London flagship store’s pre-opening expenses, and continued investment in people and technology.

Pre-tax profits fell 39% to £27.8 million, although revenues rose strongly to 21% to £484 million and the company remains one of the sports success stories of recent years.