Paul Richardson (Businessman)
Paul Richardson | |
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| Born | May 31, 1959 |
| Nationality | British |
| Citizenship | United Kingdom |
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Paul Richardson (born 31 May 1959) is a British businessman, entrepreneur and will be the co-owner of Birmingham City Football Club. He is also the former co-owner of AllSaints and the former executive director and chairman of Gymshark.
Early life
Richardson has a run various waste management services[1]. In 1992, Richardson founded City Waste. The company would go on to become the largest waste management and recycling company in the West Midlands with a turnover in excess of £10 million. City Waste was sold to SITA in 2002 for an eight figure sum.[2]
AllSaints
In 2000, Richardson co-bought fashion retailer AllSaints out of administration and joined the board as a director.[3] During his time at AllSaints, Richardson helped develop the company’s business model, with a focus on national expansion. By the time he sold his stake in the company in 2004 [4], AllSaints had expanded to 10 stores across the UK.[5]
Gymshark
In 2013, Richardson met with Gymshark co-founders Ben Francis and Lewis Morgan who enlisted his help in growing their new fitness apparel business. Richardson later joined Gymshark as executive chairman in 2015 and played a key role in the company's growth and international expansion, with his appointment alongside Steve Hewitt described by Francis as helping to “revolutionise” the business.[6]
Buoyed by an increase in revenue and recruitment, Gymshark expanded its regional headquarters in Solihull in 2020.[7] Later in the year, the company secured investment from private equity firm General Atlantic.[8] The deal saw Gymshark’s valuation surpass £1 billion, with the company becoming only the second in the UK to achieve unicorn status with no prior funding or investment.[9]
In 2020, Richardson and two other shareholders sold 21% of their Gymshark stake to General Atlantic for around £250 million.[10] The company would continue to build on the global foundations laid by Richardson and Hewitt, expanding its presence in the US market the following year with the opening of a new regional headquarters in Denver.[11]
Other ventures
In January 2014, Richardson became a director at Knowaste, a waste management company that he had worked with since 2008. In his time at Knowaste, Richardson evolved the business model and brought AHP recycling to the market with the development of the first commercial AHP recycling facilities in the UK.[12]
In 2021, Richardson acquired Long Itchington and Ufton Woods, a 200-acre woodland which is a Site of Special Scientific Interest (SSSI), as well as a 200-acre woodland in East Hareshaw, Scotland and a 228-acre farm in Warwickshire.
In October 2021, Richardson returned to the fashion retail sector, acquiring streetwear brand HERA and becoming the company’s executive chairman in the process.[13] Focusing on digital growth, Richardson has ambitions to grow the company to £100 million turnover by 2027.[14]
Birmingham City Football Club
In February 2002, Richardson joined the board of his boyhood football club, Birmingham City Football Club, as non-executive director. He carried out this role until May 2004, acting as an advisor to the senior management team during the club’s first two seasons in the Premier League.
In July 2022, Richardson launched a takeover bid for Birmingham City alongside former footballer Maxi López,[15] at a reported fee of £35 million.[16] The takeover is currently awaiting EFL approval. [17]
References
- ↑ "Investegate |Birmingham City PLC Announcements | Birmingham City PLC: Appointment of Director". www.investegate.co.uk. Retrieved 2022-09-30.
- ↑ "Norchem buyer's expansion plan". Worcester News. Retrieved 2022-09-30.
- ↑ "5 Lessons We Can All Learn From Gymshark's £1bn+ Journey". Cooper Parry. Retrieved 2022-09-20.
- ↑ Slater, Matt. "Birmingham City takeover explainer: what's the plan?". The Athletic. Retrieved 2022-09-20.
- ↑ team2004-09-24T12:09:59, Retail Week online. "Stanford buys stake in All Saints as its expansion push continues". Retail Week. Retrieved 2022-09-20.
- ↑ "Gymshark flexes muscles as Ben Francis becomes CEO | TheBusinessDesk.com". West Midlands. 2021-06-30. Retrieved 2022-09-20.
- ↑ Media, Insider. "Gymshark expands headquarters". Insider Media Ltd. Retrieved 2022-09-20.
- ↑ Wightman-Stone, Danielle (2020-08-17). "Gymshark secures investment from General Atlantic". FashionUnited. Retrieved 2022-09-20.
- ↑ "PwC UK and US advise Gymshark on unicorn valuation". www.consultancy.uk. 2020-08-24. Retrieved 2022-09-20.
- ↑ "Revealed: The story behind Gymshark's transformational deal | TheBusinessDesk.com". West Midlands. 2020-08-18. Retrieved 2022-09-20.
- ↑ TWinFM. "Gymshark Opens First North American HQ". TWinFM. Retrieved 2022-09-20.
- ↑ "UKs first nappy recycling plant opens". letsrecycle.com. Retrieved 2022-09-20.
- ↑ Arthur, Andrew (2021-10-25). "Gymshark director acquires majority stake in Hera London". Business Live. Retrieved 2022-09-20.
- ↑ Sowery, Kiera. "HERA appoints Climb Online to help drive £100m growth strategy". Startups Magazine. Retrieved 2022-09-20.
- ↑ Dick, Brian; Dicken, Alex; Townley, John; McGovern, Ste (2022-07-20). "Birmingham City takeover LIVE - Paul Richardson to meet John Eustace". BirminghamLive. Retrieved 2022-09-20.
- ↑ Slater, Matt. "Birmingham City takeover explainer: what's the plan?". The Athletic. Retrieved 2022-09-20.
- ↑ Nursey, James (2022-09-05). "Birmingham owners in waiting draw up stadium plans ahead of EFL approval". mirror. Retrieved 2022-09-20.
External links
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