Latest news with #KieranRiddell-Austin
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.'
