Hype to focus on families and travel as it "shifts gears" following exit of founders

Hype, best known for its brightly coloured backpacks, is "shifting gears" following the recent exit of its founders to focus on "products for all the family" and a move into the travel market.

The company, founded in Leicester in 2011, said its new vision was to build on the success of its signature backpacks and create "stylish, affordable, and functional products for every family member. We're committed to resonating with children and parents alike, enhancing our brand identity along the way."

Hype was founded by entrepreneurs Liam Green and Bav Samani, who recently announced they were standing down from the business to "embark on new adventures" after it passed into new ownership last year.

The business was acquired out of administration by Lux360 and JHB2C after experiencing pandemic-related challenges that were further compounded by the cost-of-living crisis. 

Hype had experienced rapid growth, having started out in the streetwear space, and went on to be stocked in retailers such as NEXT, Footasylum and Sports Direct. Its backpacks, often emblazoned with colourful graphical designs, were the hit product and became a favourite of school children up and down the country.

The new owners now intend to take the signature Hype look and apply it to products such as luggage and duffel bag, which CEO Mike Thompson described as a "natural evolution".

"We are thrilled to embark on this exciting new growth strategy, placing a strong emphasis on serving kids and families, while also expanding our product offerings into the travel category.

"The expansion into travel-centric products represents a natural evolution from our iconic backpacks, enabling us to diversify beyond our traditional back-to-school offerings.

"While our backpacks have been a cornerstone of our brand, we recognise the opportunity to cater to a broader audience and occasions.

“By introducing travel-led products, we aim to transition from being primarily associated with back-to-school purchases to becoming a go-to destination for stylish and functional accessories that accompany our customers on all their adventures," Thompson said.

Samani and Green had stayed with Hype following its sale to ensure a smooth transition to the new owners but on the one-year anniversary of the sale, they stood down. In a statement, the company said: "Their dedication and commitment to Hype have undoubtedly left a lasting impact on the company's success. We wish them both an amazing future and all the best with their future endeavours."