Since it was started by 29-year-old Mr Francis and his friend, Lewis Morgan, in 2012 its trajectory has been skywards. [9], In 2020, Richardson and two other shareholders sold 21% of their Gymshark stake to General Atlantic for around 250 million. Now he has signed a deal with General Atlantic he is targeting taking the Gymshark brand to North America and to the lucrative Asia Pacific market. Founder of celeb-loved brand Gymshark, 28, who is worth 125million reveals he sold his share of the company because 'money isn't everything' and 'helping his family is the most important thing' Save up to 50% on Women's Clothing when you shop now. As always you can unsubscribe at any time. In February 2002, Richardson joined the board of his boyhood football club, Birmingham City Football Club, as non-executive director. It went from a garage to the Moons Moat Industrial Estate in Redditch in 2016 and then to its present headquarters at the Blythe Valley Park in Solihull in 2018. If you have any doubt related to. Despite Covid, the company has opened a distribution centre in Toronto in Canada. Find the best deals on HDTVs, UHD TVs, & 4KTVs from your favorite brands. This means that we may include adverts from us and third parties based on our knowledge of you. And the new US office is being finished in Denver, Colorado where Ben was headed with his girlfriend, Robin Gallant, before Covid struck. He said his parents and grandparents' jobs in the region had given him a strong work ethic. For those who haven't heard of Gymshark before, here's the gist: it's a UK-based activewear company that specialises in gym wear (duh) for both men and women, and they've also expanded into the athleisure, running, and yoga markets. A company can earn from different criteria. Find the best deals on Women's Handbags & Wallets from your favorite brands. Richardson played his first NFL game on December 19 against the Indianapolis Colts, but had no stats. The founder of fitness apparel business Gymshark, which has grown to become a 176m turnover business since 2012, has revealed the reasons why he stepped down as chief executive. 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Want our best stories with fewer ads and alerts when the biggest news stories drop? A 28-year-old former pizza delivery boy has done a deal which values his sportswear company at more than 1bn. Biography of Celebrities, News Information around the world. Lewis also explained how the pair's success wouldn't have been possible without the support of his and Ben's families. Read also:- Jae Woodroffe Wiki, Biography, Your email address will not be published. The 21-year-old has been hit with a string of fines after flouting parking regulations in his 250,000 Lamborghini Mr White is the CEO and founder of Hera London, a menswear brand launched last. Ben started Gymshark while he was studying at Aston University and was just 19 years of age. As always you can unsubscribe at any time. Nestle has confirmed that it has discontinued Nestle Coffee Mate Light in the UK. Lewis, who is in the process of buying a 1.5m house, is a big gym-goer and has always been passionate about exercise and fitness. With more than 20 years' experience in the sector, Richardson was instrumental in helping Gymshark become the global e-commerce business it is today. Paul Richardson Limited Aug 2021 - Present1 year 7 months Stratford upon Avon Building up an investment portfolio Investor and Director Kalibre Clothing Aug 2022 - Present7 months Birmingham,. "Im proud of my decision, and proud of the team that Im a part of. Richardson has a home address at 500 SOUTH BUENA VISTA STREET in BURBANK, CA. City Waste was sold to SITA in 2002 for an eight figure sum. Gymshark Net Worth 1 billion (Last . And in the next 12 months Gymshark is expected to have sales of between 300 and 400 million dollars. Paul Richardson, who works . I think it would be remiss of me not to continue to bring in the right people to help elevate us to that next level. Ben has increased his share from 67 to 70 per cent, Bens brother Joe has one per cent, with Mr Hewitt having four per cent and the rest of the leadership team the remaining shares. He was part of the team that made Gymshark the success story it is today, and although he currently has only a part-time role there, its an active one.He was also a joint owner and director of All saints when the brand more than doubled from five to 12 stores between 2002 and 2004.Speaking of his new investment, Richardson said he looks forward to working with the new team to help develop the company into a leading streetwear brand in this competitive sector. A few months later, Paul accepted the role of Gymshark Director, then Chief Strategic Officer and since then he has overseen and guided the growth of one of Britain's biggest business success stories and is currently Executive Chairman. Find the best deals on Gear from your favorite brands. Paul RICHARDSON. Local businessman Paul Richardson says he and former Barcelona striker Maxi Lopez hope to complete a deal to buy Birmingham within the next three weeks. Save up to 50% on Swimwear when you shop now. In 2017, Ben chose to stand aside as CEO to concentrate on the aspects that distinguishes Gymshark from its competitors. Unlike other brands, Gymshark uses plus-size people wearing its clothing. He carried out this role until May 2004, acting as an advisor to the senior management team during the clubs first two seasons in the Premier League. [8] The deal saw Gymsharks valuation surpass 1 billion, with the company becoming only the second in the UK to achieve unicorn status with no prior funding or investment. He said: I have always said I always want to take every single leap possible to take this in to being one of the biggest and best brands in the world. And it was at this point we brought on Paul [as executive chairman] and Steve [as chief executive] who have completely and utterly revolutionised the business.. These are the best Smartphones deals youll find online. He said: The old playbook for success in brands was you create as much product as you can, supplied in to as many stores as you can, to please as many people as you can. He now owns a fashion label, Maniere De Voir, with business partner Reece Wabara, which is set to turnover 20million, and has also founded Ernest Cole Development, a real estate firm. Alongside his business partner and best friendBen, the pair set up Gymshark when they couldn't get their hands on certain gymwear and equipment in the UK. Im proud to work for Steve and would recommend to anyone else whos in the position that I was in, to remove your ego and build the team in a way thats truly best for your business. Staff at their Blythe Valley headquarters will worry that they may well bear the brunt of any redundancies. During his studies, he built the first version of the "Gymshark" website, establishing the brand online. Moreover, it will become a truly worldwide brand as a consequence of its new financial deal with General Atlantic. We use your sign-up to provide content in the ways you've consented to and improve our understanding of you. He faced some opposition from within the company but went with what he felt was right. Richardson is 28 years old. This page was last edited on 6 October 2022, at 19:10. We use your sign-up to provide content in the ways you've consented to and improve our understanding of you. We were super busy and it was super exciting. Lewis Morgan (pictured) 28, and his friend Ben Francis, from Bromsgrove, Worcestershire, set up Gymshark when they were teenagers and studying at business at Worcester University and Aston University in Birmingham. That's an ambitious goal given that turnover may be in the millions at the moment, but it's still in single-digits. Thanks to the strong foundations that were built throughout Gymsharks growth, coupled with a ferocious understanding of our community, brand and product, weve been able to grow faster than almost any business of our type globally. Richardson also has stakes in VERSACE Mens T-Shirts and BUYMA. As his interest in business grew, Lewis ended up skipping lectures, and at the end of his first year he dropped out to focus on Gymshark full time. By 2019 the company had gone on to achieve a turnover of around 5m, with its range of sweatshirts and jeans being worn by social media influencers, and celebrities such as Brooklyn Beckham, Hailey Bieber and the cast of reality TV series Geordie Shore. At the time Ben was at Aston Uni by day and worked as a delivery driver for Pizza Hut by night from 5pm to 10pm. Last week, on announcing the billion dollar deal, Ben said: Eight years ago, pretty much to the day, I was hand-sewing and hand-making and hand-printing products and hand-packaging them and sticking it in a bag. Deals and discounts in Tech & Electronics you dont want to miss. After two years, annual revenues hit an incredible 250,000, so Ben quit uni and pizzas to focus on his company. Paul Richardsons net worth is $15 million. In an interview with The Times, Mr Francis said despite being "a skinny lad" himself, he was adamant Gymshark's clothing should be for all shapes and sizes and he encouraged "body positive" influencers to promote the brand. Some of Wikitia's pages are sourced from Wikipedia.org's Mainspace and Draftspace. People havent been in this situation before. Hera London is being supported in its scale-up by e-commerce consultancy The Growth Foundation and agency Fostr, which works with luxury brands on the Shopify platform. E: jon.robinson@newsco.com, Craig Dorham, Business Development Manager "Weve lead the direct to consumer revolution and built a truly community first brand thats dedicated to uniting the conditioning community. Ben Francis is the owner of the firm. In 2011, Ben was a 19-year-old student at Birmingham's Aston University. Gymshark has an estimated net worth of about $1.19 million. And carrying it down to the post office and standing there while each one was stamped and sent out across the world. Ben Francis established the business with the help of some school friends but moved to become chief brand officer in 2017 and was succeeded in the top job by Steve Hewitt. Which values his sportswear company at more than 1bn strong work ethic fewer ads and alerts when the biggest stories. On 6 October 2022, at 19:10 on Gear from your favorite brands truly. Are sourced from Wikipedia.org 's Mainspace and Draftspace HDTVs, UHD TVs &! 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