Dec 27, 2022 Paul. Lewis left five years ago but retained a 20 per cent stake. Paul Richardson also serves as the Founder and CEO of Paul Richardson Limited and as Non-Executive Director at TelXL Limited. ", "Stanford buys stake in All Saints as its expansion push continues", "Gymshark flexes muscles as Ben Francis becomes CEO | TheBusinessDesk.com", "Gymshark secures investment from General Atlantic", "PwC UK and US advise Gymshark on unicorn valuation", "Revealed: The story behind Gymshark's transformational deal | TheBusinessDesk.com", "Gymshark director acquires majority stake in Hera London", "HERA appoints Climb Online to help drive 100m growth strategy", "Birmingham City takeover LIVE - Paul Richardson to meet John Eustace", "Birmingham owners in waiting draw up stadium plans ahead of EFL approval", article "Paul Richardson (Businessman)" is from Wikipedia, https://wikitia.com/index.php?title=Paul_Richardson_(Businessman)&oldid=154989. Unlike other brands, Gymshark uses plus-size people wearing its clothing. That was 2012. This explains the reason for the lack of public appearances. Something went wrong, please try again later. It's quite literally your 'rags to riches' story. Speaking to the Mirror Onlinehe revealed: 'I just wanted to step back and look after the people I love most. Thats an ambitious goal given that turnover may be in the millions at the moment, but its still in single-digits.Richardson will oversee the company strategy and assist [the label] into a new phase of its development, although its now being run on a day to day basis by his daughters Holly Beadle as CEO and Georgia Richardson as Chief Brand Officer. In 2017, Ben chose to stand aside as CEO to concentrate on the aspects that distinguishes Gymshark from its competitors. Jay Richards & Cat Agostinho - Co-Founders, Imagen. [5], In 2013, Richardson met with Gymshark co-founders Ben Francis and Lewis Morgan who enlisted his help in growing their new fitness apparel business. 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. Paul Richardson Lives in Atherton, California Paul Richardson Paul Richardson System Senior Vice President, Engagement at CommonSpirit Health Lives in San Francisco, California Paul Richardson Paul Richardson Works at Time Warner Cable Sports Channel (Wisconsin) Lives in Sioux Falls, South Dakota Paul Richardson Richardson Paul US private equity firm General Atlantic is taking a 21% share in the clothing business, which is based in Solihull. Let's Stop Calling It R&D V2 Gated. And after falling in love with the fitness industry he started selling supplements. 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. 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. Your email address will not be published. In December of that year, he was promoted to the active roster. Ben took a small margin. In this blog. But he said he was also down-to-earth and, when the value of his company soared to 1 billion, he celebrated with a Nando's. Who knows where it will take us.. You then end up having to balance your time between day to day activities for the role youre working in, but you also have the inevitable founder and director responsibilities like understanding financials, business structures, managing risk, long term plans, attending board meetings and so on. Paul Richardson will oversee the brand's growth. Gymshark has almost doubled its staff number in the past 12 months to about 800 employees. Deals and discounts in Cookbooks you dont want to miss. At just 29, the gym wear entrepreneur has already bought himself a Cotswold farm to retire to when the strains of business life get too much for him. We use your sign-up to provide content in the ways you've consented to and improve our understanding of you. Sahar Nazir. If you have any problems or questions related to any matter, you may directly contact us at mpmsunews@gmail.com. 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. In August 2020 Gymshark was valued at over 1bn ($1.3bn) and joined the exclusive list of British companies to achieve "unicorn" status. The platform for Gymshark's global ambitions has been laid by Hewitt and executive chairman Paul Richardson, who joined during a difficult period for the business six years ago. A majority stake in a Gloucestershire-based clothing brand has been acquired by a director with the gym wear firm Gymshark. Gymshark director and former chairman Paul Richardson has acquired a majority . I just wanted to enjoy my life. We are no longer accepting comments on this article. Me and Robin were going to move out there. The company took an equity growth round from Growth Capital Private Equity firm, General Atlantic and cashed his old business. Despite being super-wealthy, Mr Francis said said his biggest extravagance to date had been the Cotswolds dairy farm. This article "Paul Richardson (Businessman)" is from Wikipedia. His net worth reached an estimated $40 million in 2014. Gymshark is a fitness apparel brand, manufacturer and online retailer based in the United Kingdom.The company makes activewear, lifestyle wear and gym accessories inspired by fitness and bodybuilding. The 28-year-old said he was never great at school but something clicked for him aged 17 when he took an IT class. After handing back the role of CEO to Gymshark's founder, Ben Francis, Steve became Executive Chair at Gymshark before stepping back from the business to become a Non-Executive Director in August 2022. Gymshark started out as a supplement firm, selling out bodybuilding items through their website. Shop our favorite Plus Size Clothing finds at great prices. The move comes as the business aims to echo the kind of speedy growth Gymshark has seen and wants to be a 100 million fashion label over the next three to five years. We use cookies to make your experience better. He is currently a non-executive director of various companies as well as Owner and Executive Chairman of HERA Clothing. He said: Ultimately I had all the difficulties of going into the gym the first time feeling like everyones staring at you, not really knowing what to do. Something went wrong, please try again later. Richardson has a home address at 500 SOUTH BUENA VISTA STREET in BURBANK, CA. Since it was started by 29-year-old Mr Francis and his friend, Lewis Morgan, in 2012 its trajectory has been skywards. People have said - Is Ben selling out? He went to a body building expo and showcased his gear. The one negative is that the program costs much more than other similar programs. Paul Richardson's salary as a Football Player is between $1 million to $5 million. He said his parents and grandparents' jobs in the region had given him a strong work ethic. Paul Richardson was also a former Director of Clad Group Limited and Executive Chairman and Executive Director of Gymshark. He funded his Gymshark business by working as a pizza guy along with his full-time studies. 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. Here we discuss Paul Richardson Businessman Wiki, Biography, Wife, Age, Height, Family, Nationality, Net Worth & More. [16] The takeover is currently awaiting EFL approval. It was a practical hands-on course applying real skills not just writing about them. Find the best deals on Gear from your favorite brands. "Weve also build a vibrant, addictive internal culture lead by Steve as CEO. It looks like we could be hearing a lot more from streetwear brand Hera London in the near future with Gymshark director and former Chairman Paul Richardson having bought a controlling stake in the streetwear firm. Warning issued to any driver in UK filling up with petrol or diesel in next 14 days. Ben Francis built his net worth through his love for business and the fitness industry. Ash White set up HERA London in 2015 and thanks to the influence of celebrities like Brooklyn Beckham and Hailey Bieber wearing his designs, was turning over in excess of 5m by 2019. Ben said he's happy for larger women to wear his clothes: I dont think its particularly divisive to say fitness should be for everyone. Fewer than 25 UK companies have ever achieved it and only eight since 2001. Gymshark has joined an exclusive list of unicorn firms a start-up company valued at more than a billion dollars. ITV Emmerdale's Amy Nuttall 'crying every day' after husband Andrew Buchan leaves her for co-star, Buchan has reportedly left her for BBC Better co-star Leila Farzad, 40, ITV Emmerdales Amy Nuttall rumbled husband Andrew Buchan and BBC Better co-star Leila Farzad's romance by lingerie. Richardson has taken the position of executive chairman in the company, which has announced plans to grow into a 100m fashion label over the next three to five years. Save up to 50% on Maternity Clothing when you shop now. It. Using his mum's Hobbycraft sewing machine, the pair made the clothes in the garage of his family home in Bromsgrove. His clothing line, Gymshark, is worth $1.4 billion. His business was valued at nearly 1.5 billion, Never miss the latest local news again by signing up to our Daily Newsletter. Paul Richardson, executive director of billion pound business Gymshark the wildly successful fitness apparel, has purchased a controlling stake in a fancy Cheltenham fashion brand. Are you a Midlands manufacturer with a product or project to shout about and a great story to tell? 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. 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Results will appear on the next page. He made his first Super Bowl appearance with the . We use your sign-up to provide content in the ways you've consented to and improve our understanding of you. A 19 year-old, struggling pizza delivery boy starts a sports supplement and clothing company from his bedroom. Find the best deals on Fragrance from your favorite brands. The businessman said his mum Kim is 'amazingly supportive' and has never told him to stop. Discussing how he started the business, Lewis explained that his friendship group dwindled quickly at University, as he went to 'make money on the side doing whatever' while most people went to 'go out and drink'. [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. If you have any doubt related to Paul Richardson Businessman Wiki, Biography, Wife, Age, Height, Family, Nationality, Net Worth & More. Emily Hawkins. He was born in Los Angeles and has twin brothers. In 2017, Ben chose to stand aside as CEO to concentrate on the aspects . Paul Richardson, who is the former chairman of Gymshark and its current executive director, has now purchased Mr White's share in the business for an undisclosed sum. E: jon.robinson@newsco.com, Craig Dorham, Business Development Manager By the time he sold his stake in the company in 2004 [4], AllSaints had expanded to 10 stores across the UK. He brought in two experienced businessmen Steve Hewitt, who had been the commercial director at Reebok Europe. He has taken a completely different approach to selling and it has paid off. Articles taken from Draft Namespace on Wikipedia could be accessed on Wikipedia's Draft Namespace. Molly Rainford is joining the cast of the soap. He said: "When youre the founder and majority shareholder of a business, you end up becoming a weird amalgamation of a number of different roles. You get to a point where money isn't everything. As always you can unsubscribe at any time. And carrying it down to the post office and standing there while each one was stamped and sent out across the world. It soon took off and now Gymshark is the favourite workout equipment of thousands on Instagram and TikTok. Ex-pizza delivery driver, 28, who started a gym clothing firm from his parents' garage it set to become Britain's richest self-made person under 30 with a business worth more than 1billion Ben. Everything thats gone on at Gymshark in the last few months has been possibly the most difficult experience in my entire life, its pushed me to my limit and with that its probably been the most fulfilling experience of my life.. In 2019, Gymshark made sales of 175.2 million with a profit of 18.6 million. 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' Deals and discounts in Tech & Electronics you dont want to miss. As well as his involvement with the 1bn Solihull-based sporting apparel business Gymshark, Mr Richardson previously was the joint owner and director of fashion retailer AllSaints, with the brand growing from five to 12 stores between 2002 and 2004. It has engaged The Growth Foundation, an e-commerce growth consultancy, to help the brand scale-up and achieve these goals, as well as Fostr a premier Shopify Plus Agency based in the UK.The big question is whether the family trio now at the helm will be able to pull off its growth targets. For further information regarding Insider events, please use the contact details below: T: 0161 907 9758 He is also the former co-owner of AllSaints and the former executive director and chairman of Gymshark. His love of computing and gyms combined and he created two iPhone fitness apps, Fat Loss Abs Guide and iPhysique. Copyright 2023 FashionNetwork.com All rights reserved. Lewis Morgan, 28, and his friend Ben Francis, from Bromsgrove, Worcestershire, set up Gymshark when they were teenagers and studying business at Worcester University and Aston University in Birmingham. Or by navigating to the user icon in the top right. However, it is not clear whether Richardson will continue to be the owner of Birmingham City Football Club. 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. For clothing pieces, such as shorts and leggings, the prices are typically between $15 - $30. The company's full-year revenues to July 2020 were 268 million. I was going to head up the US office. And in the next 12 months Gymshark is expected to have sales of between 300 and 400 million dollars. Click to share on Twitter (Opens in new window), Click to share on Facebook (Opens in new window), Click to share on LinkedIn (Opens in new window), Click to share on Reddit (Opens in new window), Click to share on Tumblr (Opens in new window), Click to share on Pinterest (Opens in new window), Click to share on Pocket (Opens in new window), Click to share on Telegram (Opens in new window), Click to share on WhatsApp (Opens in new window), Click to share on Skype (Opens in new window), Click to email a link to a friend (Opens in new window), The Top 5 Nutrient-rich Ingredients In Holle Baby Formula. Paul was a local business person that I met at the gym. Shop the best selection of deals on Food Storage now. 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October 21, 2021 Mergers & Acquisitions Retail South East South West Gymshark Director and former Chairman, Paul Richardson, has purchased the majority share in streetwear brand, HERA London, and takes the position of Executive Chairman. "Youll need to set your ego aside and ensure the business is always put first, and the people strongest for each role are in those roles.". He went from Ds and Es at GCSE to As and Bs at A-level and that secured him a place on Aston Universitys Business and Management degree course. Justin Harling - CEO, CAE Technology Services. Why not sign up to get the latest South West business news straight to your inbox. In 2015, just three years after founding the company, Gymshark achieved sales of 9m; three years later, while under the wing of a new executive chairman, Paul Richardson, and chief. In July 2022, Richardson launched a takeover bid for Birmingham City alongside former footballer Maxi Lpez,[15] at a reported fee of 35 million. Paul says: "My mantra has always been to work really, really hard. Helping my family is my biggest achievement.'. It will mean the demolition of the now-closed Air Balloon pub. Last Updated on 20th May 2022. 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paul richardson gymshark net worth