Gymshark director and former chairman Paul Richardson has acquired a majority stake in streetwear retailer Hera London.
Richardson has taken the position of executive chairman at the brand, and will oversee company strategy to create significant growth and improve brand equity.
Hera aims to grow into a £100 million label over the next three to five years.
Hera London will work with ecommerce growth consultancy, the Growth Foundation, and a Shopify Plus Agency Fostr, in an effort to scale-up.
“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,” Richardson said.
“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 currently works for Gymshark on a part time basis.