Today AD is welcomed by tennis legend and 23-time Grand Slam singles title winner Serena Williams for a tour of her stunning new home north of Miami. After living with her sister Venus on and off for over 20 years, Serena and husband Alexis Ohanian have made a stylish new home for their family. From the eclectic artwork (including her own painting) to the world-beating trophy room, Serena’s home could only belong to someone as multifaceted and accomplished as her. “I was moving away from Venus for the first time in my life, so I wanted it to be really meaningful,” Serena says. While mixing family with business can be risky, the secret to their success as siblings and creative collaborators is simple: “You have to know your lane. I’m really good at playing tennis; I’m not as good at interiors. But I was able to learn through just watching Venus.”
Everyone has seen those oversize vending machines that sell headphones and phone chargers. Dawn Dickson-Akpoghene, 42, makes those–but fancier. Her “high IQ” kiosks use AI, biometrics and computer vision to enable retailers to retain customers through data stored on the blockchain. With $3.8 million in funding, Popcom's $20,000 unit is in Polaris Fashion Place in Columbus' soon to come additional shopping malls and beyond. “We are in a new world of retail,” she says. Small businesses account for 99.9% of all U.S. businesses and some two-thirds of net new American jobs.
The vast majority of these enterprises are bootstrapped via savings and credit cards. While venture-backed startups generally skew white, male and coastal, these Main Street enterprises actually look like—and drive—America. To shine a light on this new class of entrepreneurial hero, Forbes has created the Next 1000.
This year-round initiative showcases the ambitious sole proprietors, self-funded shops and pre-revenue startups in every region of the country—all with under $10 million in revenue or funding but infinite drive and hustle.
Fueled by your nominations and screened by top business minds and entrepreneurial superstars, at the year’s end, we’ll culminate with 1,000 new faces. Let’s get started with the first installment of 250 standouts who embody the best of the American dream right now.
(qlmbusinessnews.com via uk.reuters.com — Sat, 27th March 2021) London, UK —
By Brenna Hughes Neghaiwi, Simon Jessop
ZURICH/LONDON (Reuters) – In 2020, as the world convulsed under COVID-19 and the global economy faced its worst recession since World War II, billionaires saw their riches reach new heights.
Now some are talking to their wealth managers about how to keep a hold of and consolidate their fortunes amid the global debris of the pandemic. Others are discussing how to preempt and navigate demands from governments, and the wider public, to pick up their share of the recovery costs.
“The stock market crashed a year ago, by July or so my portfolio was back where it was before, at the beginning of the year, and now it’s far higher,” said Morris Pearl, a former managing director at BlackRock who chairs Patriotic Millionaires, a group that believes the high net worth should do more to close the wealth gap.
“The fundamental problem is this gross inequality that’s getting worse.”
The plans being discussed by the ultra-rich range from philanthropy, to shifting money and businesses into trust funds, and relocating to other countries or states with favourable tax regimes, according to Reuters interviews with seven millionaires and billionaires and more than 20 advisers to the wealthy.
“It’s quite evident that the bill is coming for everybody,” said Rob Weeber, CEO at Swiss wealth manager Tiedemann Constantia, who said some clients were also considering selling major assets like businesses before tax rates rise.
In the United States, the election of Joe Biden as president, and anticipated higher taxes for the rich, have in particular triggered a sharp increase in demand from clients to set up trusts, according to wealth managers.
This would allow them to pass along money to children or other relatives under the current $11.7 million tax-free threshold per person. During his campaign, Biden proposed to return to 2009 levels, when the exemption stood at $3.5 million.
“We saw a surge of trusts created and funded in Q4 of last year,” said Alvina Lo, chief wealth strategist at Wilmington Trust. “The vast majority of our clients adopted a wait-and-see approach until the election in November, and then it just kicked up into high gear.”
Nearly two-thirds of the world’s billionaire class amassed greater fortunes in 2020, according to Forbes, with the biggest gainers reaching unprecedented levels of wealth, helped by the trillions of dollars in recovery money from policymakers.
Forbes, which tracks publicly known fortunes, estimated billionaires had gotten 20% richer in 2020 by mid-December.
Many enjoyed investment opportunities off-limits to ordinary retail investors, capitalising on market volatility with short-term derivative trades, according to Maximilian Kunkel, UBS’s chief investment officer for wealthy family offices.
When asset prices tumbled, he said, many of the bank’s biggest private clients sold put options or opted for more complex trades known as risk reversals, helping them capitalise on their bet that prices would eventually rise.
“Some of our clients were extraordinarily agile in taking advantage of the biggest market dislocations,” Kunkel added.
Now, as governments globally grapple with ballooning debt and growing social unrest, billionaires know the spotlight on their wealth will get stronger, according to the interviews.
Many of the wealthy are mindful of looming demands from tax authorities, and are speeding up plans to pour money into trust funds for their children.
Wealth strategist Jason Cain said many ultra-rich families had also sought to move other assets including businesses into trust funds, capitalising on the “unique” situation presented by the pandemic of low interest rates and depressed valuations to make potentially windfall tax savings in years to come.
Inquiries in such strategies tripled during the first seven to eight months of the pandemic, according to Cain, who works for U.S.-based wealth advisory Boston Private.
“75-80% of the families that we talk to were convinced that that was an opportunistic time and they needed to do something.”
THE HAMPTONS, OR SINGAPORE?
Others across the globe are also taking more drastic action, by relocating to countries and areas where the tax regimes and societies are more benign for the mega-rich.
Henley & Partners, a global citizenship and residence advisory firm based in London, said inquiries from high-net-worth individuals seeking to relocate had jumped during the pandemic. The number of calls from U.S.-based clients surged 206% in 2020 from the prior year, for example, while calls from Brazil rose 156%.
For many in emerging countries, fears that strains on public services could lead to civil unrest have prompted younger generations of wealthy families particularly to seek opportunities abroad.
“COVID just basically took the clothes off the Emperor, and all of a sudden, people started to realize: our healthcare system is not strong, our social safety net is really not available,” said Beatriz Sanchez, head of Latin America at global wealth manager Julius Baer.
Switzerland, Luxembourg and Singapore have become popular targets as wealthy individuals consider where they want to be based in the long term, said Babak Dastmaltschi, Credit Suisse’s head of strategic clients in its international wealth management division.
“They are actually saying: look, we see the world inevitably going towards more and more transparency. And there’s no point fighting a trend,” Dastmaltschi said.
“Let’s just find suitable jurisdictions which are transparent, open, respected, and internationally recognised, and establish our structures there,” he said.
Cindy Ostrager, tax director at Clarfeld Citizens Private Wealth, said she also saw many ultra-wealthy clients moving out of New York City into their vacation getaways in the likes of the Hamptons, initially to escape the worst of the pandemic, and subsequently staying to pay lower taxes.
Moves to low-tax states, including Texas, Florida and Washington, have also become more popular, said Kristi Hanson, director of taxable research at investment consulting firm NEPC’s Private Wealth group.
FOCUS ON PHILANTHROPY
As countries continue to grapple with the pandemic’s fallout, economists point to a larger looming issue: the decoupling of extreme wealth from overall economic prosperity.
By early March, the wealth of U.S. billionaires had risen $1.3 trillion, or by nearly a half, since the start of the pandemic, according to research conducted by the Institute for Policy Studies and Americans for Tax Fairness.
That brings their wealth to $4.2 trillion, roughly a fifth of U.S. economic output for 2020 and double the total wealth held by the bottom-half of the 330 million population.
“We’re at a moment, you might say, after four years of celebrating inequality, people are saying that wasn’t exactly the right answer,” said Nobel Laureate and Columbia University economist Joseph Stiglitz, referring to the U.S. Trump administration reducing taxation for the rich.
The pandemic has focused the attention of many super-rich people on social causes, according to UBS’s American head of family advisory and philanthropy services Judy Spalthoff.
“There’s been a massive shift in the conversations we’re witnessing among families, in terms of the consideration of social inequity,” she said. “The younger generation has really been pushing this topic at the board level.
“We see so many conversations in families really gut-checking to say, ‘Yes, we’ve had success. We’ve worked hard for this success. But let’s not be blind to the world around us. And let’s make sure we can step out of our bubble’.”
For many that means philanthropy.
Spalthoff’s team saw a surge in clients partnering with the UBS Optimus Foundation, which channels money to causes such as Action Against Hunger, with donations rising 74% last year versus 2019, to $168 million.
Yet for UK-based millionaire Gary Stevenson, a former trader at Citibank, any plan to tackle inequality must include a wealth tax.
“We live in a situation right now where billionaires often pay lower rates of tax on their income than ordinary workers,” he said. “But I don’t think it will be enough just simply to tax their income … it needs taxes that apply on wealth.”
This Alux video we will be answering the following questions: What are the top 10 Highest Earning YouTubers 2020? What are the 10 Highest Earning YouTubers 2020? Who are the best paid YouTubers in 2020? Who is the highest paid YouTuber in 2020? Who are the highest paid YouTubers in 2020? How much do top YouTubers make? How much money do YouTubers make? What YouTubers earns highest salary in world? Who is the YouTuber with the highest earnings in 2020?
This is the 2020 Ashville vehicle, plant and machinery fleet tour; all the weapons used by Ashville Waste Management, Aggregates, Concrete and Construction on a daily basis.
Take a look at the journey of how Daniel Louisy went from one DAF Grab Lorry (Truck) to a growing fleet of over 35 vehicles and machines in just 7 years!
(qlmbusinessnews.com via news.sky.com– Fri, 27th Nov 2020) London, Uk – –
It comes after a year where many people have relied on the company, which runs a global retail operation and a streaming service.
Amazon staff in the UK are set to see a Christmas boost in their pay packet, after the firm announced $500m (£374m) in global bonuses.
The company, which is run by the world's richest man Jeff Bezos, will hand out £300 to full-time workers who are employed from 1 to 31 December, while part-time staff will get £150.
It comes after a year where many people have relied on the company – which runs a global retail operation and streaming service – to send gifts, buy essential items or while away the hours on box sets and films.
In a blog post, the firm's senior vice president of worldwide operations, Dave Clark, said this holiday season would be “unique”, and that he was “grateful to our teams who continue to play a vital role serving their communities”.
He added: “This brings our total spent on special bonuses and incentives for our teams globally to over $2.5bn (£1.84bn) in 2020, including a $500m (£374m) thank you bonus earlier this year.
“Our teams are doing amazing work serving customers' essential needs, while also helping to bring some much-needed holiday cheer for socially distanced families around the world. I've never been more grateful for, or proud of, our teams.”
Despite paying two rounds of bonuses this year, the firm has had to answer questions about its safety protocols amid the coronavirus pandemic after US politicians scrutinised Amazon's working practices.
Amazon joins major US retailers such as Walmart and Home Depot in spreading the wealth, after sales during coronavirus lockdowns surged.
Bezos also grew his personal wealth exponentially in 2020 and is estimated to be worth almost $186bn (£136bn) – almost $60bn (£44bn) ahead of the next richest person in the world, Elon Musk.
To pump out its famous flavors like Half Baked and Cherry Garcia, Ben & Jerry's Vermont plants run 24-7, operated by hundreds of workers and flavor gurus. Business Insider visited the St. Albans factory back in 2019 to see how these iconic pints flip their way to our freezers.
With more than 500 hours of video uploaded every minute and over 1 billion hours watched every day, Google’s YouTube is the world’s second largest search engine. And its meteoric growth hasn’t subsided, over 2 billion users visit the site every month. CNBC takes a look at how the video platform has changed over the past 15 years and if it can stay on top
(qlmbusinessnews.com via theguardian.com – – Tue, 10th Nov 2020) London, Uk – –
Britons buying more premium food but Kantar says there is no evidence of stockpiling
Sales of scented candles and retailers’ premium food ranges have soared as cold weather and coronavirus restrictions encourage Britons to hunker down for winter.
While the tightening of government rules has not led to a repeat of the stockpiling in the spring, they are still having a big impact on shoppers’ mindsets. Sales of scented candles, potpourri and essential oils for diffusers jumped 29% in October, according to the research group Kantar, while shoppers spent £56m more on premium own-label food and drink brands during the month.
Fraser McKevitt, the Kantar head of retail and consumer insight, said shoppers in Wales had spent an extra £10 a week on groceries during its recent firebreak lockdown but the increased spending “did not provide any evidence of stockpiling”. Initial figures for England also suggest “no sign of panic buying”.
The prospect of spending less time out and about during winter means people are “hunkering down with seasonal comforts and making the best of life at home”, McKevitt said. Spending on premium supermarket own-label products such as wine, chocolate and fresh meat was 18% higher than in October 2019.
The pandemic had an impact on Halloween celebrations with £9m spent on pumpkins, which was the same as in 2019, but sales of sweets for trick-or-treaters were down 2.3% as children were forced to stay home.
The operating restrictions faced by restaurant and pub chains have also a positive impact on sales at Bisto maker Premier Foods. Alex Whitehouse, the chief executive, said: “Britain has got cooking again” as more shoppers bought ingredients such as stock cubes and sauces. Sales at its grocery brands division, which includes store cupboard staples such as Bisto gravy granules and McDougalls flour, were up 13% in the three months to 26 September.
The Kantar data showed UK grocery sales increased by 9.3% during the 12 weeks to 1 November with “no significant spike in demand” in the most recent four weeks, despite a variety of restrictions coming into force across the country.
However, the figures also revealed a huge increase in demand for frozen food with sales up 14% over the period. This surge was good news for Iceland, which was the UK’s fastest-growing supermarket chain with sales up 17.9% and the average shopper spending nearly 50% more per visit than in 2019.
“Frozen food has been a hot ticket since the beginning of the pandemic,” said McKevitt, who pointed to a spike in sales of fridge-freezers over the summer that showed “the desire for long-lasting provisions in the current climate”.
(qlmbusinessnews.com via theguardian.com – – Wed, 30th Sept 2020) London, Uk – –
Delivery-based supermarket’s value rises to £21bn despite selling 1.7% of UK’s groceries
Ocado has overtaken Tesco to become the UK’s most valuable retailer after its stock market value soared to £21.66bn.
Tesco is worth £21.06bn despite controlling nearly 27% of the UK grocery market. By comparison Ocado, which is already worth more than double the combined value of Sainsbury’s and Morrisons, sells just 1.7% of the UK’s groceries.
Former Tesco boss Sir Terry Leahy once famously described Ocado as a “charity” due to its track record of losses during the noughties.
Ocado has eclipsed Tesco just as the supermarket’s new chief executive, Ken Murphy, prepares to take charge on Thursday. He replaces Dave Lewis who has been running the UK’s biggest retailer since 2014.
Murphy faces a baptism of fire as Tesco grapples with recession, running supermarkets during a pandemic and a potential no-deal Brexit. He also needs to get the share price, which has gone sideways under Lewis, moving.https://www.theguardian.com/email/form/plaintone/3887Sign up to the daily Business Today email or follow Guardian Business on Twitter at @BusinessDesk
The Tesco board is painfully aware of the march of the Ocado share price. In the summer the company suffered one of the biggest-ever shareholder revolts over executive pay. Shareholders objected to a late change to part of an executive pay plan, which handed an additional £1.6m to Lewis and £900,000 to finance director Alan Stewart.
The change involved removing online grocer Ocado from a comparator group against which Tesco’s share performance was measured. With Ocado included the two men would not have qualified for the extra payout.
Investors have fallen in love with Ocado on the back of the success of its tech business Ocado Solutions, which sells its grocery-picking expertise to foreign supermarkets. The coronavirus pandemic has also triggered a boom in online shopping. At the height of the pandemic online food sales nearly doubled but, despite the recent slowdown, they now account for 12.5% of total grocery sales versus about 7% pre-crisis.
(qlmbusinessnews.com via theguardian.com – – Tue, 8th Sept 2020) London, Uk – –
Blanket approach to ending scheme will mean a wave of closures, says shadow minister
Labour has warned that many pubs and bars will be forced to close unless the government agrees to extend the furlough wage support scheme, which is due to be withdrawn next month.
Night-time hospitality businesses have struggled as punters remain cautious about heading back to their local and Labour warned that the sector would suffer a wave of closures unless it received further help.
“Pubs are a vital part of our high streets and social fabric in communities up and down the country,” said Lucy Powell, the shadow business minister. “They have been hit hard by the pandemic, and Tory indifference and incompetence over many years means that many have gone to the wall.Advertisement
“Ministers’ blanket approach to ending the furlough scheme further threatens the future of many more. The furlough scheme must be extended for hard hit sectors to save jobs now.”
Labour, which reckons 5,500 pubs and bars have closed since the Conservatives came to power in 2010, is also calling for funds leftover from the government’s business grant scheme to be funnelled into a new Hospitality and High Street Fightback Fund to help ailing businesses.
Figures released last month showed that sales at pub, restaurant and bar chains halved in July compared with last summer. Trade in bars was down almost two-thirds (63%) and pubs saw a 45% slump in the first month that businesses were able to reopen after the government eased lockdown restrictions.
Last month, the British Beer and Pub Association said more than a third of pubs failed to break even in July, and a quarter of pubs and bars were uncertain their businesses would still be viable by March next year.
“With our pubs grappling with the ongoing challenge of returning to the trading levels they were at before the lockdown, hundreds of thousands of jobs hang in the balance,” said Emma McClarkin, chief executive of the BBPA. “A sector specific extension of the furlough scheme would be greatly welcomed by our sector.”
While the BBPA threw its weight behind an extension of the furlough scheme, industry figures have also identified other areas where the government could help.
Publicans have expressed bitter complaints about the financial impact of the“beer tie” arrangement that governs the relationship between large pub companies that own thousands of pub premises and the tenants who run the business.
Many publicans also expressed dismay after alcohol was excluded from the government’s six month VAT cut from 20% to 5% designed to stimulate the hospitality industry. More than 60% of the UK’s 47,000 pubs are “wet-led”, meaning they make more money from alcohol than food. Pubs are also facing huge rent bills with nearly all of the major pub companies opting to defer their demands, or offer a discounted rate, instead of cancelling payments as business has dried up during the pandemic.
Pubs, bars and restaurants also no longer enjoy the extra custom the government’s highly successful eat out to help out scheme brought in during August.
Last week, the government revealed that at least 100m meals were eaten by diners taking advantage of the scheme, which gave 50% off the price of a meal up to a maximum of £10 per head on Mondays to Wednesdays. The government has said the success of the scheme meant it would cost more than the £500m Rishi Sunak set aside in the July mini-budget.
A Treasury spokesperson said: “We have stood by pubs and the communities they serve throughout the pandemic, providing targeted support for the sector including business rates holidays and cash grants of up to £25,000.
“The coronavirus job retention scheme will have been open for eight months from start to finish – with the government helping to pay the wages of over 9.6 million jobs so far. And support doesn’t end in October with the furlough bonus paying £1,000 per employee for those brought back to work and kept in employment into 2021.”
NASA astronaut Jeanette Epps will join astronauts Sunita Williams and Josh Cassada as a crew member on the first operational flight of Boeing’s CST-100 Starliner spacecraft to the International Space Station (ISS), announced NASA. The six-month expedition, which is planned to launch in 2021, will make Epps the first Black woman to live and work in space for an extended period of time. Epps responded to her new assignment in a Twitter video, saying she’s “looking forward to the mission” alongside Williams and Cassada. NASA assigned Williams and Cassada to the Starliner-1 mission in August 2018. The spaceflight will be the first for Cassada and third for Williams, who spent long-duration stays aboard the space station on Expeditions 14/15 and 32/33.
Grab a snack and chew on today's lessons from a man who went from writing a play in high school after a classmate was shot and killed to playing Jackie Robinson in movie 42 and being the Black Panther. He's Chadwick Boseman and here's my take on his Top 10 Rules for Success!
(qlmbusinessnews.com via news.sky.com– Fri, 28th Aug 2020) London, Uk – –
Guardian analysis shows pace of job cuts on back of Covid-19 crisis remains the concern
Britain’s economic recovery from Covid-19 gathered pace in the past month, fuelled by consumer spending and people taking advantage of the government’s “eat out to help out” scheme, despite fears mounting over rapid growth in unemployment.
On the Guardian’s latest monthly tracker of economic news since the pandemic spread to Britain this spring, the release of pent-up demand with the easing of lockdown is driving the sharpest rebound in economic growth among the G7 advanced economies, while retail spending has returned to pre-crisis levels.
However, after the country plunged into the deepest recession on record in the three months to June, companies have started making job cuts at a faster pace than during the 2008 global financial crisis, with hundreds of thousands of redundancies announced in the past few weeks alone.
Sounding the alarm as the UK government prepares to remove its furlough job retention scheme this autumn, Frances O’Grady, the director general of the TUC, warned that continued support would be required to avert a jobs catastrophe and long-term damage to the economy.
Writing in the Guardian, she said: “Without urgent action we face the prospect of mass unemployment on a scale not seen since the 1980s.”
Issuing an appeal to the chancellor, Rishi Sunak, she said: “There is still time to stop mass unemployment. We worked together once before as this crisis began: I will work with you again if you are serious at stemming the haemorrhage of jobs.”
The Guardian has chosen eight economic indicators, as well as the level of the FTSE 100, to track the impact on jobs and growth from Covid-19 and the measures used to contain it. Faced with the deepest global recession since the 1930s Great Depression, the Covid Crisis watch will also monitor how the UK is faring compared with other countries.
In the past month, private sector business activity has risen at the fastest pace in seven years as companies race to catch up on work put on hold during lockdown. The increase in demand for services and manufactured goods, which followed the easing of restrictions during the summer, sent the IHS Markit CIPS flash UK composite output index to 60.3 in August, up from 57 in July. On a scale where a figure above 50 indicates expansion, the latest figures suggest the UK is recovering faster than the US, China and the eurozone.
The recovery comes after Britain was officially confirmed to be in the deepest recession since modern records began in the 1950s, with gross domestic product (GDP) falling by 20.4% in the second quarter.
In the deepest decline of any nation in the G7 and the EU, the slump was worsened by the later launch of lockdown and prolonged use of controls to limit the spread of the virus. In a reflection of the deeper downturn for Britain, non-essential shops were closed for just 50 days in Germany, compared with 84 days in the UK.
Retail sales jumped above pre-pandemic levels in July during the first full month since the relaxation of restrictions, as shoppers gradually returned to the high street. The hospitality sector also received a shot in the arm from the “eat out to help out” scheme, with a Monday-to-Wednesday boom at restaurants, pubs and cafes in August. More than 64m discounted meals – the equivalent of one for almost every person in Britain – have been claimed by venues taking part in the scheme so far.
However, significant pressure remains for firms, threatening a sharp increase in unemployment this autumn. Online spending remains higher than before the crisis struck, footfall remains down in several big cities amid the continued absence of office workers, and demand remains weak in certain sectors more reliant on social interaction or travel, such as entertainment, aviation and tourism.
Millions of workers have been brought back from furlough as firms gradually reopen with physical distancing measures in place, with the total number of people on the government’s wage subsidy scheme down from a peak of about 9 million in May to about 4.5 million at the start of August.https://www.theguardian.com/email/form/plaintone/3887Sign up to the daily Business Today email or follow Guardian Business on Twitter at @BusinessDeskAdvertisement
However, more than half of the workforce in the arts, entertainment and recreation industry remains furloughed, compared with only 13% still away from work for the economy as a whole, according to the Office for National Statistics.
Despite the government scheme protecting millions of jobs, official figures show almost three-quarters of a million jobs have been shed from company payrolls since March. Economists say unemployment is set to more than double as the government rolls back the furlough scheme this autumn and as firms cut their costs amid weaker levels of demand while Covid-19 remains a risk to health.
Warning that the crisis is far from over, O’Grady said employers would need continued government support to protect jobs and create new ones as the risks from the pandemic gradually recede.
“Mass unemployment is not inevitable. If the government acts fast to keep people in work, our economy will recover faster and our country can build back better,” she said.
When Brian Scudamore told his parents he was dropping out of college to become a full time junk collector, they told him he was throwing away his future. At just 19, he set out to build his own business. The idea for a junk removal service came to Scudamore while staring at a pile of garbage in a McDonald’s parking lot. Today he’s created a multi-million brand and through his unconventional success, he’s become the poster child of encouraging anyone thinking about starting a business to “just get out there and start one.”
(qlmbusinessnews.com via bbc.co.uk – – Fri, 14th Aug 2020) London, Uk – –
A 28-year-old former pizza delivery boy has done a deal which values his sportswear company at more than £1bn.
Ben Francis started Gymshark from his parents' garage in 2012 when he was 19 years old, studying by day and working for Pizza Hut by night.
Mr Francis told the BBC he is now worth a “frightening” amount though he declined to provide details of the deal.
But based on a £1bn value, Mr Francis' stake in Gymshark is worth £700m.
US private equity firm General Atlantic is taking a 21% share in the clothing business, which is based in Solihull. It will allow Gymshark to expand internationally, especially in the US, where it has most of its customers.
Mr Francis started the firm because he couldn't find sportswear that appealed to him.
Enlisting the help of his brother, and a group of friends, he bought a sewing machine and screen printer, and started to make gym vests and t-shirts.
Embracing social media
His brother and most of those friends are still a part of the business today, which has 499 staff and offices in the UK, Hong Kong and Denver, Colorado. It manufactures all over the world.
A large part of the sportswear firm's success is due to its significant social media following. It has 4.6 million followers on Instagram.
“We were one of the first businesses in the world to sponsor influencers,” Mr Francis said. “Equally, we were one of the first businesses to really double down and invest in social media.”
But the coronavirus crisis has also helped.
“Commercially, it's been quite good in the sense that people are shopping more online and people are running, cycling and doing home workouts more than ever before,” he said.
But he acknowledged that it has been hard on his staff.
He is yet to decide what he will do with his newly-realised wealth but he does think he's earned a short break.
“I will have this weekend off,” he said.
“I cannot remember the last time I was up any later than 05:30 or 06:00 so tomorrow morning, I will have a lie in, for one, and I will walk my dog and just chill out.”
However, he remains focused on worldwide expansion.
“This is my one true passion and the thing that I've truly dedicated my life to,” he said.
“So all of my mindset right now is about continuing to develop this brand into a truly, truly global phenomenon.”
This Alux video we'll try to answer the following questions: What is Fortnite? How do you spell Fortnight? Why the new media loves fortnite? Why do guys like fortnite so much? Why is fortnite so bad? Why fortnite is good for your brain? Why is fortnite addicting? Is fortnite a sin? Does fortnite make you dumber? Is fortnite ok for 10 year olds? Should fortnite be banned? Is fortnite OK for 7 year old? Can fortnite damage your brain? Is fortnite OK for 9 year olds? Does fortnite make you smarter? Is fortnite OK for kids? Who is the best fortnite player? How long should you play fortnite a day? Why is fortnite bad for kids? What game is the most addictive? How do I quit fortnite? Is fortnite dying? Is fortnite game Dangerous? s Minecraft better than fortnite? What does fortnite stand for? Is fortnite suitable for 12 year olds? Is fortnite appropriate for 11 year olds? Why is fortnite so successful? Is Roblox bad for kids? Why is fortnite a 12? What is the concept of fortnite? What is the point of fortnite? Is fortnite OK for kids? What kind of game is fortnite? Should a 7 year old play fortnite? Is fortnite shutting down in 2020? Why is fortnite so addictive? Is fortnite dying? How do you get free V bucks? Is fortnite good for your brain? Why is fortnite shut down? What does whisper mean in fortnite? Is Roblox better than fortnite? Why is fortnite a 12? Is Roblox bad for kids? Is fortnite OK for 9 year olds? What is fortnite's birthday? How can you tell a fortnite bot? Is Ninja still good at fortnite? How much does Ninja make a year? How much is the Ninja skin on fortnite? What is Ninja's fortnite name? Who is best fortnite Player 2020? Does Fortnite pay ninja? Who is the richest gamer? Who is the highest paid gamer? How much is Ninja worth? Is Ninja still making money? How much did Microsoft pay for ninja? Who is the best fortnite player? Is fortnite losing popularity? Does Ninja play warzone? What team is Ninja on in fortnite? Why is fortnite banned in China? What country is fortnite banned in? Who has the most kills in fortnite?
These are Crocs. And a lot of people think they’re really ugly. People who love to hate Crocs had cause to celebrate in 2008, when investors were writing the company off as a passing fad. Crocs lost over $185 million that year and cut 2,000 jobs. The stock plunged to just over $1 a share from a high of about $69 a year earlier. But over the next decade, Crocs would go on to sell 700 million pairs of shoes worldwide. Recently, the clogs have have been strutting down runways at luxury fashion shows. Celebrities like Justin Bieber, Ariana Grande and Post Malone are wearing the shoes. It’s a top brand among Gen Z. And limited edition Crocs are selling for up to $1,000 on the resale market. Crocs have become… a collector’s item.