Gymshark Director takes majority share in streetwear brand HERA London
Gymshark Director and former Chairman, Paul Richardson, has purchased the majority share in streetwear brand, HERA London, and takes the position of Executive Chairman.
Under the new management structure, HERA London aims to grow into a £100m fashion label over the next three to five years with Richardson overseeing the company strategy and assisting HERA London into a new phase of its development.
Richardson is committed to capitalise on the work of the previous team, create significant company growth, and improve brand equity. HERA London has also engaged The Growth Foundation, a proven eCommerce 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.
Richardson boasts an impressive record of growing businesses in this sector, and was instrumental in helping Gymshark become the global e-commerce business it is today; he currently plays an active, but part time role. Further influencing the fashion market, as a joint owner and Director of All Saints, the brand grew from five to 12 stores between 2002 and 2004.
Launching in 2015, HERA London became known for its iconic skinny jeans, oversized sweatshirts and loungewear. The brand soon attracted ambassadors and celebrities including Hailey Beiber, Brooklyn Beckham, Sofia Richie and the cast of Geordie Shore. By 2019, the label had a loyal customer base and achieved a turnover of over £5m.
Speaking of his new venture, Richardson said: “I’m 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 have set ambitious targets and are committed to building on the success of the former management team, to bolster the company’s performance and increase brand value.”
HERA London will continue to operate from its headquarters in Cheltenham, where the team designs and develops products, before shipping directly to customers from its online eCommerce store.