Latest news with #DanielYuen
Times
9 hours ago
- Business
- Times
Montirex
R ank 18 Annual sales growth over three years 144.03% Sportswear brand Best friends since attending primary school together, Daniel Yuen, 27, and Kieran Riddell-Austin, 29, launched their sportswear brand in 2019 to fill a gap in the market for an affordable, stylish alternative to the big labels. Helped by distribution deals with the retailers Footasylum and JD Sports, the duo — who still own 100 per cent of the business — grew sales to £76.7 million in 2024. They expect to almost double this to £130 million this year as they take the Liverpool-based business to Europe. Explore the Sunday Times 100 — interviews, company profiles and more
Times
08-05-2025
- Business
- Times
Best friends on track for £130m sales at Liverpool sportswear brand
Two entrepreneurs from Liverpool who are still in their twenties and own 100 per cent of their sportswear business expect it to almost double in size to revenues of £130 million this year. Daniel Yuen, 27, and Kieran Riddell-Austin, 29, who met in Kirkby while still in primary school and remain best friends, say Montirex is poised to expand into Europe this year, having grown rapidly after agreeing distribution deals with the retailers Footasylum and JD Sports. Riddell-Austin said the company's rapid growth since launching in 2019 was in large part down to the entrepreneurs identifying a gap in the market for an affordable, stylish alternative to the big name sports clothing brands, which were increasing prices. 'At the time there were a lot of
Fashion Network
02-05-2025
- Business
- Fashion Network
Montirex predicts near-doubling of turnover for 2025
Ambitious UK sportswear brand Montirex is anticipating another major jump in its sales and profit this year as it seeks international expansion to take on rivals large and small. Launched by friends Daniel Yuen and Kieran Riddell-Austin six years ago, Montirex is preparing to expand into Europe in the next three years, with North America on its radar by 2030, reported City AM. The Liverpool-based business is also setting its sights on hitting turnover of around £130 million for 2025, compared to sales of £76.7 million in 2024, and £33.4 million in 2023. It's also predicted pre-tax profit will reach almost £34 million this year, up from £20.8 million in 2024 and £3.5 million in 2023. Riddell-Austin told the publication: 'We originally launched in response to bigger brands downgrading quality while increasing the prices of their sportswear. We were confident we could provide an affordable and stylish alternative. 'We've committed to carefully managing each stage of growth to make sure our success is sustainable and without compromising on quality.' Yuen added: 'We've achieved [this success] with no investors. By retaining 100% of the business, we've learned so much along the way and continue to make improvements – from growing our quality assurance team to ensuring that we're working with sustainable yarns and ethical production standards." He added: 'We're rising to the challenge of not compromising on quality while meeting the expectations of our customers and navigating increasing production costs while seeking to minimise our impact on the environment. 'That's not always easy but the learnings we've already gained have only strengthened our resolve and commitment to the brand – we're really looking forward to growing Montirex even further in the next five years and beyond.'
Fashion Network
02-05-2025
- Business
- Fashion Network
Montirex predicts near-doubling of turnover for 2025
Ambitious UK sportswear brand Montirex is anticipating another major jump in its sales and profit this year as it seeks international expansion to take on rivals large and small. Launched by friends Daniel Yuen and Kieran Riddell-Austin six years ago, Montirex is preparing to expand into Europe in the next three years, with North America on its radar by 2030, reported City AM. The Liverpool-based business is also setting its sights on hitting turnover of around £130 million for 2025, compared to sales of £76.7 million in 2024, and £33.4 million in 2023. It's also predicted pre-tax profit will reach almost £34 million this year, up from £20.8 million in 2024 and £3.5 million in 2023. Riddell-Austin told the publication: 'We originally launched in response to bigger brands downgrading quality while increasing the prices of their sportswear. We were confident we could provide an affordable and stylish alternative. 'We've committed to carefully managing each stage of growth to make sure our success is sustainable and without compromising on quality.' Yuen added: 'We've achieved [this success] with no investors. By retaining 100% of the business, we've learned so much along the way and continue to make improvements – from growing our quality assurance team to ensuring that we're working with sustainable yarns and ethical production standards." He added: 'We're rising to the challenge of not compromising on quality while meeting the expectations of our customers and navigating increasing production costs while seeking to minimise our impact on the environment. 'That's not always easy but the learnings we've already gained have only strengthened our resolve and commitment to the brand – we're really looking forward to growing Montirex even further in the next five years and beyond.'
Fashion Network
02-05-2025
- Business
- Fashion Network
Montirex predicts near-doubling of turnover for 2025
Ambitious UK sportswear brand Montirex is anticipating another major jump in its sales and profit this year as it seeks international expansion to take on rivals large and small. Launched by friends Daniel Yuen and Kieran Riddell-Austin six years ago, Montirex is preparing to expand into Europe in the next three years, with North America on its radar by 2030, reported City AM. The Liverpool-based business is also setting its sights on hitting turnover of around £130 million for 2025, compared to sales of £76.7 million in 2024, and £33.4 million in 2023. It's also predicted pre-tax profit will reach almost £34 million this year, up from £20.8 million in 2024 and £3.5 million in 2023. Riddell-Austin told the publication: 'We originally launched in response to bigger brands downgrading quality while increasing the prices of their sportswear. We were confident we could provide an affordable and stylish alternative. 'We've committed to carefully managing each stage of growth to make sure our success is sustainable and without compromising on quality.' Yuen added: 'We've achieved [this success] with no investors. By retaining 100% of the business, we've learned so much along the way and continue to make improvements – from growing our quality assurance team to ensuring that we're working with sustainable yarns and ethical production standards." He added: 'We're rising to the challenge of not compromising on quality while meeting the expectations of our customers and navigating increasing production costs while seeking to minimise our impact on the environment. 'That's not always easy but the learnings we've already gained have only strengthened our resolve and commitment to the brand – we're really looking forward to growing Montirex even further in the next five years and beyond.'
