Gymshark director buys majority share in HERA
Gymshark director and former chairman Paul Richardson has purchased the majority share in streetwear brand HERA London.
Richardson has taken the position of executive chairman at the fashion firm, which aims to grow into a £100m label over the next three to five years. In his new position, Richardson will oversee company strategy, create significant growth and improve brand equity.
HERA London will work with e-commerce growth consultancy, the Growth Foundation, and a Shopify Plus Agency Fostr, to scale-up.
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.”
Richardson’s CV includes a post as joint owner and director of All Saints, when the brand was growing in the early 2000s.
HERA London launched in 2015 and is known for skinny jeans, oversized sweatshirts and loungewear. The brand soon attracted ambassadors and celebrities including Hailey Bieber, Brooklyn Beckham, Sofia Richie and the cast of reality show Geordie Shore. By 2019, it had achieved a turnover of over £5m.
Richardson works for Gymshark on a part time basis now, with the fitness fashion brand popular among Gen Z consumers.
The online retailer is reportedly looking at floating on the London stock market.
