Thomas Pink finance boss limbers up for Sweaty Betty role


Thomas Pink's finance boss, Andrew Merriman, has quietly left the shirt retailer to join athletic fashion brand Sweaty Betty in the new year.

Mr Merriman, who previously worked at Savile Row tailor Gieves & Hawkes, joined the shirt maker as its finance chief in 2013 and was charged with growing Thomas Pink’s business overseas.

The group, which is owned by LVMH, the French-based luxury goods group, now runs more than 60 franchise stores around the world, including in China, Hong Kong, the Middle East and Mexico.

The shirt retailer posted losses of £452,000 for 2014, although these had narrowed from £636,000 the previous year, while sales rose by 8pc to £37m.

However, the group has struggled in the UK amid intense competition, which has forced it to lower prices and run more promotions.

Thomas Pink has been pushing overseas

Sweaty Betty, which was founded in Notting Hill 15 years ago by Tamara Hill-Norton and continues to be run by her and husband Simon, is gearing up for further growth in America.

The fashion retailer, known for its brightly coloured yoga leggings, recently named former Bain & Co consultant Erika Serow as its US chief executive after receiving additional growth funding from US-based private equity firm Catterton.

Sweaty Betty has 40 boutiques in the UK, including concessions in Harrods and Selfridges, and four stores in the US.

A Sweaty Betty store

Thomas Pink will name its new chief financial officer in January.

The shirt retailer settled a dispute with lingerie company Victoria’s Secret earlier this year over the rights to the Pink brand name.

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The shirt maker is named after an 18th century Jermyn Street tailor who designed the iconic red hunting coat, and was founded in 1984 by three Irish brothers – James, John and Peter Mullen.

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