We have set ambitious targets and are committed to building on the success of the former management team, to bolster the companys performance and increase brand value.. Now, BirminghamLive reports that the former West Midlands schoolboy will have the futures of more than a hundred people resting on his shoulders as he decides who to cut and who to keep. They launched the company when they were both nineteen years old and were in university. He has a net worth of more than 700 million. 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. Even Covid didn't derail the company's growth as there was a boom for fitness at home during lockdown. Ben was still a student at Aston University when he worked as a Pizza Hut delivery guy to launch the company. 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Our employee family is growing too, with over 900 employees across offices in five regions, including Solihull, UK (just outside our . Deals and discounts in Tech & Electronics you dont want to miss. Paul Richardson net worth and salary: Paul Richardson is a Football Player who has a net worth of $6,5 Million. CEO Steve Hewitt, founder Ben-Francis and executive chairman Paul Richardson 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. 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. 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 this episode, we discuss Paul's role with G Show Venture Mentality, Ep Paul Richardson- Gymshark Executive - Aug 18, 2020 The list of its authors can be seen in its historical. These are the best Fashion deals youll find online. Biography of Celebrities, News Information around the world. Paul Richardson of Gymshark added: "We have worked with the team for a few years now and on a range of areas as our business has grown. Or by navigating to the user icon in the top right. He is currently a non-executive director of various companies as well as Owner and Executive Chairman of HERA Clothing. 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. 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. Jon Robinson, Senior Digital Staff Writer He has credited his work ethic to his dad, who worked in Redditch for telecoms group AT&T. Gymshark has almost doubled its staff number in the past 12 months to about 800 employees. Its revenue has grown tenfold over the past four years, rising to $550 million in 2021, according to the company's latest full-year financial report in July. Save up to 50% on Women's Clothing when you shop now. Paul Richardson Sr. (born 1969), American football player Paul Richardson (American football) (born 1992), American football player, and son of the above Paul Richardson (organist) (1932-2006), home field organist for the Philadelphia Phillies, 1970-2005 Paul Richardson (priest) (born 1947), British Roman Catholic priest and former Anglican bishop Save my name, email, and website in this browser for the next time I comment. Then enter Insiders Made in the Midlands Awards 2023. 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. A company can earn from different criteria. I think growing up in the West Midlands helped, it was fairly chill. He said as a child he was "skinny and slight" and that had made him go to the gym to build muscle, and that's where he came up with the idea for Gymshark. 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. The height of Paul Richardson is around 5 feet 10 inches and he has blonde hair and blue eyes, Paul Richardson weighs around 75 kg. For clothing pieces, such as shorts and leggings, the prices are typically between $15 - $30. However, some people have estimated that Gymshark's net worth might really be more than that. Im realising right now just how far we have come. Something went wrong, please try again later. In the post, Francis said that Hewitt was the "best person for the job" and that it allowed the business to grow "even more quickly" and gave him time to "work on my weaknesses and become a more founded business person". 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. Company details taken from Companies House. We also may change the frequency you receive our emails from us in order to keep you up to date and give you the best relevant information possible. Shop the best selection of deals on Cat Supplies now. Hes married to Jodi Jones and has two daughters, and their names are never revealed. Paul Richardson, who is the former chairman of Gymshark and its current executive director, has now purchased Mr Whites share in the business for an undisclosed sum. For further information regarding Insider events, please use the contact details below: T: 0161 907 9758 "Weve also build a vibrant, addictive internal culture lead by Steve as CEO. . But how did Ben go from sewing and hand-stitching gym clothes in his parents garage to turning the company in to a company worth 1 billion or 1.45 billion dollars? Ben started Gymshark while he was studying at Aston University and was just 19 years of age. Save up to 50% on Women's Accessories when you shop now. Armed with a screen printer and sewing machine, he spends his nights hand making clothes and selling them online. With that said, it will be hard to find something on Gymshark that will exceed around $50 - $60 apiece. Mr Richardson said: Im thrilled to have acquired HERA London and look forward to working with the new team to help develop the company into a leading streetwear brand in this competitive sector. 'We were fed and we were given a free space to work. Find the best deals on Fragrance from your favorite brands. Save up to 50% on Trending when you shop now. It was when Gymshark launched the Luxe tracksuit that the companys website was inundated with orders. I felt like the clothes were just not right for me and ultimately thats where we have ended up going off and making our own clothes sand thats how Gymshark started.. The company's full-year revenues to July 2020 were 268 million. The one negative is that the program costs much more than other similar programs. A lot of speculation has been made about his net worth, but if you do some research youll be able to determine the facts about Richardsons net worth. 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. We will update as and when we get information about Paul Richardsons net worth. 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. Ben then wanted a website to sell things on. In 2019, Gymshark made sales of 175.2 million with a profit of 18.6 million. Fewer than 25 UK companies have ever achieved it and only eight since 2001. Francis first stitched the garments in his parents garage. It took six weeks to get his first sale. And then the Gymshark brand was born. We also may change the frequency you receive our emails from us in order to keep you up to date and give you the best relevant information possible. The founder of online athleisure juggernaut Gymshark has revealed how he stepped back from the billion pound empire he started aged 19 - as 'money isn't everything' and 'he wanted time with loved ones'. Last year Mr Francis sold a 21 per cent share to an American private equity company - pushing the value to a staggering 1 billion. Deals and discounts in Cookware you dont want to miss. 'We were two kids running a multi-million pound business and, somehow, doing it well. Creative Commons Attribution-ShareAlike. Gymshark was spawned from Mr Francis's personal desire for comfortable, stretchy fitness gear which fitted people of all sizes. Board and Advisor Roles Number of Current Board & Advisor Roles 1 Paul Richardson is the Chairman at Gymshark. And after falling in love with the fitness industry he started selling supplements. 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. In August, Gymshark was valued at 1 billion, after US private equity giant General Atlantic snapped up a 21 per cent stake in his business - making his partner Ben the richest self-made Briton under 30 with a worth of around 650million. Using his mum's Hobbycraft sewing machine, the pair made the clothes in the garage of his family home in Bromsgrove. Fruit and veg wholesaler blames shortage on supermarkets not paying 'fair price' for produce, Darren Cookson has up to increase his prices by as much as 50 per cent, Shoplifter banned from every Primark, Boots, Iceland and Wilko in area, Samantha Oldfield has been banned after she tried to leave a shop with candle sets and chocolates in her bag, Prince Harry and Meghan Markle break silence after Frogmore Cottage eviction, Prince Harry and Meghan Markle have been forced out from the Windsor property, BBC Strictly Come Dancing star joins EastEnders cast in new family. Aged 21, Ben turned his sportswear business in to something much bigger. He is also the former co-owner of AllSaints and the former executive director and chairman of Gymshark. Despite his soaring success as a businessman, Lewis - who is worth 125m - said that he's most proud to step back and look after the people he loves most, especially his mum Kim (pictured together). 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. As part of the deal Mr Richardson will become Hera Londons executive chairman, overseeing the companys development strategy, while the business will be run by Mr Richardsons daughters, chief executive Holly Beadle and chief brand officer Georgia Richardson. News of the redundancies came as a shock to the business community. reviews Gymshark Seamless Shorts for Daily Workout. The Gymshark company really provides a nice workout with a few great features. Prior to that, he was a joint owner and Director of AllSaints, expanding the brand from five to 12 stores between 2002 and 2004. The couple has two daughters. Inclusivity is super-important, he said. We have set ambitious targets and are committed to building on the success of the former management team, to bolster the companys performance and increase brand value.. These are the best Videogames deals youll find online. His father played in the NFL with the Philadelphia Eagles. Working on Gymshark while living at his parents house, Lewis had a job as a potwash and a retail assistant in Burton while studying, which he describes as 'four years of mayhem'. Shop the best selection of deals on Fitness now. Liven Family Net Worth 2022 How Rich is the Family? At the time Steve was working as an agent working between European suppliers and businesses. In this episode, we discuss Paul's role with G. education business podcasts management. [3] During his time at AllSaints, Richardson helped develop the companys business model, with a focus on national expansion. -. Gymshark founder and main shareholder Ben Francis from Bromsgrove is now worth one billion dollars with his business valued at 1.45 billion dollars after an investment by General Atlantic, Gymshark's headquarters are at Blythe Valley Park in Solihull. We use your sign-up to provide content in the ways you've consented to and improve our understanding of you. Deals and discounts in Womens Active Shoes & Sneakers you dont want to miss. Gymshark has an estimated net worth of about $1.19 million. Paul Richardson was born on the 31st of May 1959 in England, United Kingdom and as of 2022, he is sixty-three years old. Gymshark now employs 900 people across the world - including the company's headquarters in Solihull. We also may change the frequency you receive our emails from us in order to keep you up to date and give you the best relevant information possible. He brought in two experienced businessmen Steve Hewitt, who had been the commercial director at Reebok Europe. If anything you will see Gymshark is even more agile then ever. These are the best Kitchen Linens deals youll find online. Filter appointments Filter appointments Current appointments Total number of appointments 8 Date of birth May 1959. His salary is between $1 million and $5 million per year, depending on his level of success in the NFL. Fast forward just 7+ years - the company is now worth $1.45B USD. Paul holds British nationality. 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. In this blog. The sportswear company itself is said to be valued at . Dec 27, 2022 Paul. 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. And in the next 12 months Gymshark is expected to have sales of between 300 and 400 million dollars. Your email address will not be published. Here we discuss Paul Richardson Businessman Wiki, Biography, Wife, Age, Height, Family, Nationality, Net Worth & More. The six year-old brand that was originally known for its skinny jeans, oversized sweatshirts and loungewear plus its celebrity following will continue to operate from its UK HQ in Cheltenham and has taken on extra expertise to help it expand. Despite being super-wealthy, Mr Francis said said his biggest extravagance to date had been the Cotswolds dairy farm. The last filed accounts show sales of 176.1 million (231 million dollars) and profits of 18.4 million, to July 2019, but they are 12 months out-of-date. We use your sign-up to provide content in the ways you've consented to and improve our understanding of you. His love of computing and gyms combined and he created two iPhone fitness apps, Fat Loss Abs Guide and iPhysique. Gymshark has become the United Kingdoms first DTC brand to attain Unicorn status without the assistance of outside financing in the year 2020. Paul Richardson, who works . Paul Richardson was also a former Director of Clad Group Limited and Executive Chairman and Executive Director of Gymshark. Role . [17]. He is the former co-owner of AllSaints, . But Gymshark grew and grew. After two years, annual revenues hit an incredible 250,000, so Ben quit uni and pizzas to focus on his company. Paul Richardson may refer to: . Nestle has confirmed that it has discontinued Nestle Coffee Mate Light in the UK. Or by navigating to the user icon in the top right. Paul Richardson was also a former Director of Clad Group Limited and Executive Chairman and Executive Director of Gymshark. Paul Richardson was born on the 31st of May 1959 in England, United Kingdom and as of 2022, he is sixty-three years old. Shop our favorite Women's Shoes finds at great prices. [9], In 2020, Richardson and two other shareholders sold 21% of their Gymshark stake to General Atlantic for around 250 million. No doubt a place he will be spending some time as he mulls over the 121 staff he will have to make redundant, following the company's announcement of the first layoffs in its history. He used a machine and a screen printer for which he put money aside. This comes as no surprise after in February of this year owner Ash White tried to sell 10% of his equity which we stated at the time was likely down to the brand struggling financially with stock due to be paid for. We are no longer accepting comments on this article. Do not sell or share my personal information. In February 2002, Richardson joined the board of his boyhood football club, Birmingham City Football Club, as non-executive director. . In December of that year, he was promoted to the active roster. 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'. However, it is not clear whether Richardson will continue to be the owner of Birmingham City Football Club. Nestle scraps popular item in UK leaving customers 'devastated'. 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. Shop our favorite Bath & Body finds at great prices. Paul Richardson also serves as Investor and Non-Executive Chairman at Energem and as Investor and Non-Executive Director at ARX Alliance. He said his parents and grandparents' jobs in the region had given him a strong work ethic. In October 2021, Richardson returned to the fashion retail sector, acquiring streetwear brand HERA and becoming the companys executive chairman in the process. Save up to 50% on Hair when you shop now. Paul Richardson Businessman Wiki, Biography, Wife, Age, Height, Family, Nationality, Net Worth & More. E: eventenquiry@newsco.com, This month Insider visits the Virtual Engineering. LANDLORD. If you have any problems or questions related to any matter, you may directly contact us at mpmsunews@gmail.com. It has offices in Denver in the United States, Hong Kong, Mauritius, London and a huge campus at Blythe Valley Business Park in Solihull. Im going to have even more input and control over the future of the business. People havent been in this situation before. Jay Richards & Cat Agostinho - Co-Founders, Imagen. Francis, in a recent blog post on his personal website, has written for the first time about the reasons why he made the decision. It's quite literally your 'rags to riches' story. Despite his soaring success as a businessman, Lewis - who is worth 125m - said that he's most proud to step back and look after the people he loves most. He joined a gym which he found intimidating but learnt from YouTubers to get results. 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. Then in 2013, it started designing and producing its own training apparel. Is this going to change the business. Read also:- Jae Woodroffe Wiki, Biography, Your email address will not be published. Mum's incredible proud. Hera Londons new executive chairman Paul Richardson. In high school, Richardson was a star athlete. It was a practical hands-on course applying real skills not just writing about them. Published: 09:17 EST, 13 October 2020 | Updated: 09:55 EST, 13 October 2020. This explains the reason for the lack of public appearances. The online fitness clothing and accessories brand Gymshark has grown rapidly since its inception. Since it was started by 29-year-old Mr Francis and his friend, Lewis Morgan, in 2012 its trajectory has been skywards. Lewis sold his 20 per cent share in Gymshark for 100 million. In 2016, Lewis took a step back from the company but remained a shareholder, and sold his remaining stakes for 100million in August. Shop the best selection of deals on Laptops now. Both were basic but popular. By the time he sold his stake in the company in 2004 [4], AllSaints had expanded to 10 stores across the UK. Paul RICHARDSON. Some of Wikitia's pages are sourced from Wikipedia.org's Mainspace and Draftspace. 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. Podcasts management, paul Richardson is a Football Player who has a net worth about... 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