Gymshark director purchases streetwear brand HERA
Gymshark director and former chairman, Paul Richardson, has purchased a majority stake in Cheltenham-based streetwear brand, HERA London.
Richardson has taken the position of executive chairman in the company, which aims to grow into a £100 million label over the next three to five years.
Richardson's portfolio includes being joint owner and director of All Saints, holding executive roles in sportswear brand Gymshark as well as being managing director of recycling service company Knowaste.
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 was launched in 2015, and became known for skinny jeans, puffer jackets and oversized loungewear. The streetwear fashion brand achieved a turnover of over £5m by 2019 and relied on a host of celebrities and influencers including Hailey Bieber, Brooklyn Beckham, Sofia Richie and Geordie shore stars for its campaigns.