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Tom Joule

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Tom Joule
BornTom Simon Lee Joule
February 1968 (age 52–53)
🏳️ NationalityBritish
💼 Occupation
Businessman
Known forFounder of Joules
🤑 Net worth£147 million

Tom Joule (February 1968)[1] is founder and former CEO of clothing brand Joules.

Early life[edit]

Born in Market Harborough, Leicestershire, his father was a market trader.[2]

He worked on the market stall with his father on the weekend whilst still at school, and then worked on the stall for another year after leaving secondary school.[2]

He went on to work at a clothes importer and then in the motor trade.[2]

Career[edit]

Joule founded the company in 1989, initially selling outdoor clothing at a horse show in Leicestershire.[3] He said that he sold socks and jumpers at these events at the weekend, while holding down a full-time job, arriving "half an hour before everyone else".[2]

Joule went on to open his first store in Market Harborough.[3] In 1994, Joules' business was making three times the revenue of his father's, and they decided the merge the businesses.[2] In 2001, Joules had revenues of over £1 million.[2]

In 2001, Joule lost more than 85% of his revenue during an outbreak of foot-and-mouth disease in the UK.[2] To make up for the decline in sales Joule started selling more of his products wholesale and started up a catalogue to retail its products to its existing customers.[2]

In 2013, the business received a £22 million investment from the private equity arm of Lloyds Banking Group, with Joule selling a minority stake.[3]

In 2016, the business floated on AIM.[2] He stepped down as CEO at the time to become Chief Brand Officer.[2] Joule is reported to have made £40 million from the flotation.[4]

Joule retains a 32 percent stake in the business, and has tried to increase his stake in the past.[5]

Personal life[edit]

Joule continues to reside in Market Harborough and, according to Sunday Times Rich List, has a net worth of £148 million.[6]

References[edit]

  1. "Tom Simon Lee JOULE - Personal Appointments (free information from Companies House)". beta.companieshouse.gov.uk. Retrieved 2019-02-12.
  2. 2.0 2.1 2.2 2.3 2.4 2.5 2.6 2.7 2.8 2.9 "Tips to grow your business: Tom Joule". www.managementtoday.co.uk. Retrieved 2019-02-12.
  3. 3.0 3.1 3.2 Gallagher, 25 January 2014By Victoria. "The Drapers Interview - Tom Joule". Drapers. Retrieved 2019-02-12.
  4. Farrell, Sean (2016-05-03). "Joules founder to make £40m from float". The Guardian. ISSN 0261-3077. Retrieved 2019-02-12.
  5. Nicolle, Emily (2018-09-23). "Shareholders urged to revolt against Joules founder". www.cityam.com. Retrieved 2019-02-12.
  6. "Login". login.thesundaytimes.co.uk. Retrieved 2019-02-12.


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