Leicester fashion giant targets £500m turnover with new joint CEO
Leicester-based Fashion UK has appointed Derek Horton as joint CEO as the company targets doubling turnover from £250m to £500m by 2030.
Horton will work alongside founder and CEO Gurdev Mattu, with his appointment designed to increase the management capacity available to drive the licensed clothing group’s international expansion.
Fashion UK employs around 500 people and supplies licensed clothing and accessories featuring major entertainment brands to high street and online retailers.
The group operates across the UK and Europe and works with sourcing and manufacturing partners in China, Bangladesh, India and Turkey.
Horton’s appointment comes as Fashion UK sets its sights on reaching £500m turnover within four years.
He has previously held CEO positions at international businesses and has experience leading expansion into new markets and territories.
Horton said: “Fashion UK is a remarkable business. It has built a market-leading position across Europe, it has a talented and committed team, and it has real ambition.
“I’m delighted to be joining at such an exciting point in its journey.
“My focus will be on working with Gurdev and the team to build the structure, systems and capacity we need to reach £500m, while making sure we keep the entrepreneurial energy that got us here.”
Mattu founded Fashion UK and will remain CEO alongside Horton.
He said: “Bringing Derek in as joint CEO is a major step for Fashion UK.
“He has a proven record of growing businesses and leading large teams, and his arrival gives us the leadership capacity to focus on our international expansion while continuing to support our people and customers across the globe.”
