|Born||Tom Simon Lee Joule|
February 1968 (age 52–53)
|Known for||Founder of Joules|
|🤑 Net worth||£147 million|
Tom Joule (February 1968) is founder and former CEO of clothing brand Joules.
Born in Market Harborough, Leicestershire, his father was a market trader.
He went on to work at a clothes importer and then in the motor trade.
Joule founded the company in 1989, initially selling outdoor clothing at a horse show in Leicestershire. 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".
Joule went on to open his first store in Market Harborough. In 1994, Joules' business was making three times the revenue of his father's, and they decided the merge the businesses. In 2001, Joules had revenues of over £1 million.
In 2001, Joule lost more than 85% of his revenue during an outbreak of foot-and-mouth disease in the UK. 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.
In 2013, the business received a £22 million investment from the private equity arm of Lloyds Banking Group, with Joule selling a minority stake.
Joule retains a 32 percent stake in the business, and has tried to increase his stake in the past.
Joule continues to reside in Market Harborough and, according to Sunday Times Rich List, has a net worth of £148 million.
- "Tom Simon Lee JOULE - Personal Appointments (free information from Companies House)". beta.companieshouse.gov.uk. Retrieved 2019-02-12.
- "Tips to grow your business: Tom Joule". www.managementtoday.co.uk. Retrieved 2019-02-12.
- Gallagher, 25 January 2014By Victoria. "The Drapers Interview - Tom Joule". Drapers. Retrieved 2019-02-12.
- Farrell, Sean (2016-05-03). "Joules founder to make £40m from float". The Guardian. ISSN 0261-3077. Retrieved 2019-02-12.
- Nicolle, Emily (2018-09-23). "Shareholders urged to revolt against Joules founder". www.cityam.com. Retrieved 2019-02-12.
- "Login". login.thesundaytimes.co.uk. Retrieved 2019-02-12.
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