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Charles Tyrwhitt founder pockets £16m payout

Charles Tyrwhitt founder Nick Wheeler has gained a £16m share of profits for the year ended August 1, as sales grew 19% to £172.6m compared to the previous year.

Gross profit rose by 14% to £101.2m and profit shared between its members was £17m.

“The turnover growth has been driven by both the online business and the retail store portfolio,” the shirt and tailoring business said.

“The LLP continues to invest in opportunities and initiatives to grow mail order and online sales, secure new customers and encourage repeat customer orders both in the UK and overseas markets. In addition, the LLP continues to consider potential locations to increase the size of its UK store portfolio.”

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