Source of Wealth:Fashion
Jack Wills sells hoodies, baseball caps, track pants and other leisurewear, but its customers are more likely to have a double-barrelled name than an Asbo. Straight out of university, Williams, 36, opened his first Jack Wills store in Devon in 1999 with a partner, financing it with savings and credit cards. Today it labels itself as a “university outfitter” and “the definitive British preppy clothing brand”. The business has more than 40 stores in Britain and America, plus a catalogue and an online store. A spin-off chain, Aubin Wills, is aimed at a slightly older clientele. In the summer of 2007, Inflexion, the private equity firm, took a stake in the company, in a deal that valued it at £75m. In 2009-10, profits soared to £6.7m on £64.7m sales. It is valued at £140m, and Williams has a 52% stake.
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