GymBeam built a regional e-commerce empire from Kosice. Now, after attracting heavyweight investors, it is moving its headquarters to Austria.
GymBeam, one of Slovakia’s most successful e-commerce companies, is moving its legal headquarters and key strategic functions to Austria following a major EUR 110-million investment round.
The Kosice-founded retailer, best known for fitness supplements and nutrition products, has grown into a regional player across Central and Eastern Europe. Its latest funding, reported by Forbes, brings in new institutional investors, including PortfoLion and the European Bank for Reconstruction and Development (EBRD).
The investors have taken a minority stake of just over 12%, valuing the company at roughly EUR 240 million. Founder and chief executive Dalibor Cicman says the relocation is largely driven by investor expectations rather than operational constraints.
According to Cicman, Austria offers a more predictable legal framework and greater credibility with large international investors. While GymBeam’s roots remain in eastern Slovakia, he has openly acknowledged that global capital is easier to attract from more established jurisdictions.
The fresh capital will be used to accelerate expansion into western Europe, particularly Germany, and to finance a new logistics hub in Milan. The company also plans to invest heavily in artificial intelligence to improve logistics and personalise customer experience, while further expanding its private-label product range.
GymBeam says the move will have no impact on Slovak customers, with its online store continuing to operate as usual.
Nonetheless, the decision adds to a growing list of successful Slovak firms choosing to place their headquarters abroad once they reach a certain scale – a trend that continues to raise questions about the country’s long-term business environment. (The Slovak Spectator)