Julian Richer

Last updated

Julian Richer
Born1959 (age 64–65)
London, England
Education Clifton College
Occupation(s)Entrepreneur, author
Known forFounder of Richer Sounds [1] [2]
Spouse
Rosie Richer
​
(m. 1982)​

Julian Richer LVO (born 1959) is an English retail entrepreneur, philanthropist and author, [3] [4] [5] [6] best known as the founder of Richer Sounds, the UK's largest hi-fi retailer. Richer has gained a reputation for his motivational style of management and his philanthropic and charitable activities. [7]

Contents

According to the Sunday Times Rich List in 2019, Richer is worth £160 million. [8]

Early life

Richer was born in St Thomas' Hospital, London, in 1959. He was at UCS Junior School from 1968 to 1972 before becoming a boarder at Clifton College in Bristol between 1972 and 1977, thanks to a bequest from his grandfather. [9] His parents both worked for Marks & Spencer before going on to work for themselves. His father, Percy, later qualified as a solicitor when he was 50. [10]

Career

Richer's business career started at the age of 14 while he was still at school at Clifton College, Bristol, and he opened his first shop near London Bridge aged 19. This store in south London holds the Guinness record for the highest sales per square foot of any retail outlet in the world. [11]

Richer in the past advised some organisations including Asda on staff motivation, customer service, cultural change, communications and suggestion schemes. In March 2018 Marks & Spencer announced that he was advising them on cultural change. [12] [13] [14] [15]

He was made the youngest ever Business Communicator of the Year for 1995.[ citation needed ]

He has been awarded honorary doctorates by Kingston University and Bournemouth University in 2002, University of York and Open University in 2023. [16]

Richer was appointed as a Lieutenant of the Royal Victorian Order (LVO) in 2007. [17]

In November 2013, Richer announced to the press that he would bequeath 100% of the firm to a trust co-owned by employees of the company. [18] [19] In May 2019 Richer, then aged 60, announced that he had transferred ownership to employees by passing 60% of his shares to a trust, [20] as well as separately paying each employee, excluding directors, [21] a thank you bonus of £1,000 [22] for every year of work from his own pocket to his 500+ employees who had worked an average of 8 years each (circa £4 million). [23] [24] [25] [26] [27] [28] [29] [30] [31] [32] [33] [34] [35]

In 2019, Richer was awarded the 'Outstanding Contribution to Retail' award by Retail Week magazine. [36]

In 2020, What Hi-Fi?, the world’s #1 tech buyer’s guide, gave Richer their Outstanding Contribution award, stating “The man behind Richer Sounds, and much more, has made an undeniably positive mark on the UK hi-fi industry.” [37]

In 2022, Richer wrote a series of 31 articles for The Sunday Times in the business section, under the title "Julian Richer Sound Advice". [38] [39]

Charitable interests

15% of the profits from Richer Sounds are donated to charities.

Richer has a particular interest in supporting charities involved with human rights, animal welfare, social housing deprivation and generally fighting injustice. [40] [41] [42] [43]

Richer founded ACTS435, [44] which was launched in December 2009 by the Archbishop of York, Dr John Sentamu, who remains a patron. [45] Acts435 connects people in need with people who can donate. ACTS435 operates from some 600 locations, mostly churches but also Citizens Advice branches and debt counselling centres. Christians Against Poverty and The Trussell Trust are key partners. Well over thirty thousand people have benefited from the charity (as of May 2021). [46] The charity allows people to give directly to those in need. This means that 100% of funds raised by Acts435 goes to the recipients. [47]

He founded the charity ASB Help in autumn 2013 which supports victims of anti-social behaviour. Baroness Newlove, Victims’ Commissioner, endorsed ASB Help soon after, commenting “I am delighted that ASB Help has launched this service to help equip victims in the fight against anti-social behaviour." [48] The charity’s website provides interactive guides, practical information and the necessary tools on how to effectively report anti-social behaviour. it helps in between two and four thousand people per week. [49]

He founded Richer Unsigned, a not-for-profit designed to promote the best undiscovered music the UK has to offer. Richer Unsigned supports and promotes musicians who may just be getting started, who have been in the industry a while or simply don't have a great label deal. It currently has over 3,000 artists featured on its website.

In 2018 he founded TaxWatch which launched in October, dedicated to the research and exposure of aggressive tax avoiding corporations. [50] [51] TaxWatch has been cited by several newspapers, including The Times, The Financial Times, The Guardian, The Daily Telegraph and many others as well as Parliament with regard to corporate tax avoidance, including high profile investigations into tech, media and retail companies. [52] [53] [54] [55] [56] [57] [58] [59] [60] It was also included in International Tax Review’s 2020-2021 Global Tax 50. International Tax Review’s Global Tax 50 is an annual list of “the most influential figures and events in fiscal policy over the past year.” The list also seeks to recognise “who and what will be particularly important” in the coming year. In their article about TaxWatch ITR noted, “TaxWatch has existed for just over two years but, in that time, it has made a big name for itself.” [61]

In November 2019 it was reported in the Sunday Telegraph [62] that he was launching and funding the Good Business Charter to encourage businesses to improve their behaviour, which was confirmed by Carolyn Fairbairn in a speech at the CBI's annual conference the following day. [63] It was launched on 3 February 2020. [64] A number of notable charities, businesses and public sector organisations have signed up, including Amnesty International, Aviva, Brompton Bicycle, Capita, City of York Council, Deloitte, Ealing Borough Council, League Against Cruel Sports, Luton Borough Council, Legal and General, London City Airport, Oxfam, Shelter (charity), Soil Association, St. James's Place plc, The Trussell Trust, Trades Union Congress, TSB Bank plc, University of Nottingham and the University of York [65]

In January 2020, Richer launched Zero Hours Justice, a campaign designed to highlight the exploitative nature of zero hour contracts and ultimately, to seek a complete ban on them, when unilaterally imposed on workers. [66] [67] It has also fought for humane working practices around zero hours contracts, such as advocating for staff to be put on furlough while on zero hours contracts. [68] [69] It provides legal information and advice through a telephone helpline, email and website. Apart from that, this campaign also empowers people by circulating necessary information regarding zero hour contracts and promoting healthy working environments. [70] [71]

On 29 November 2021, The Fairness Foundation was launched, which Richer [72] had founded to change the terms of the public debate about fairness, and to inspire citizens, the media and decision-makers to create a fairer society. The Foundation focuses on areas such as democracy, education, the environment, health, housing, justice, social security, taxation, wealth and work as some of the core issues that need addressing in order to make society fairer. The editorial board is chaired by Will Hutton. [73]

Books

Richer has written several books, including:

The Richer Way, which talks about starting a business and how to motivate a workforce by getting the best out of people. The Independent described it as "one of the best business books in history" [74] [75] [76]

The Ethical Capitalist, which discusses the need for a new sense of moral purpose in business and how to make business work better for society. [77] [78] [79] This was a Financial Times book of the month. [80]

Our Housing Disaster: and what we can do about it, describes how we got to such a catastrophic housing situation and that a new and bold approach to providing the homes that the UK needs is essential. The book was featured by The Guardian and The Times . [81] [82]

Personal life

Richer is married to Rosie, a fashion model. [74] [83] They live near York in North Yorkshire, England. [10] [83]

Richer was baptised into the Anglican faith in 2006 by The Rev Canon Roger Simpson at St Michael Le Belfrey, York and was confirmed later the same year by John Sentamu, Archbishop of York, in his chapel in Bishopthorpe Palace. [84]

In his spare time, Richer plays the drums in the soul/funk/pop group, Ten Millennia, [14] who have supported Shakin' Stevens, The Corrs, [85] Texas, [86] Tony Hadley and Jools Holland [the latter on 13 occasions], including November 30, 2018 at the Royal Albert Hall. [87] [88]

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References

  1. ↑ "Richer Sounds founder hands over control of hi-fi and TV firm to staff". The Guardian . 14 May 2019. Retrieved 14 May 2019.
  2. ↑ "Ethical Capitalist Julian Richer gave staff richer pickings". The Times . 18 May 2019. Retrieved 18 May 2019.
  3. ↑ "'I did the right thing': Richer Sounds boss has no regrets". The Guardian . 18 May 2019. Retrieved 18 May 2019.
  4. ↑ Wood, Zoe (27 May 2018). "M&S boss turns to hi-fi entrepreneur to amp up profits". The Observer. ISSN   0029-7712 . Retrieved 1 March 2019.
  5. ↑ "Julian Richer – RSPCA". rspca.org.uk. Retrieved 1 March 2019.
  6. ↑ "Founder And MD Of Richer Sounds at Business School". Durham University. Retrieved 1 March 2019.
  7. ↑ "Home". Oxfam. 29 January 2019. Retrieved 1 March 2019.
  8. ↑ Times, The Sunday (12 May 2019). "Rich List 2019: profiles 703–731=, featuring Ed Sheeran, Calvin Harris and Brian May". The Times . ISSN   0140-0460 . Retrieved 17 October 2019.
  9. ↑ John L. Thompson (2001). Understanding Corporate Strategy. Cengage Learning EMEA. pp. 431–432. ISBN   1-86152-755-1 . Retrieved 27 May 2018.
  10. 1 2 "UK: Ninety-five percent of this man's staff say they love working for him. What's his secret?" . Retrieved 27 May 2018.
  11. ↑ "Greatest sales per unit area annually". London: Guinness World Records. Retrieved 15 May 2019.
  12. ↑ "M&S hires Julian Richer to advise on workplace culture". 21 March 2018. Retrieved 27 May 2018.
  13. ↑ Wood, Zoe (22 March 2018). "Marks & Spencer recruits industry veteran to turn around food halls". The Guardian. Retrieved 27 May 2018.
  14. 1 2 Wood, Zoe (27 May 2018). "M&S boss turns to hi-fi entrepreneur to amp up profits". The Observer. Retrieved 27 May 2018.
  15. ↑ Shah, Oliver (27 May 2018). "Can Julian Richer change the fortunes of Archie Norman's M&S?". The Sunday Times. ISSN   0956-1382 . Retrieved 1 March 2019.
  16. ↑ "Julian Richer's Honorary Doctorates". richersounds.com. Retrieved 11 March 2019.
  17. ↑ "Richer, Julian" . Who's Who 2019 & Who Was Who. Oxford University Press. doi:10.1093/ww/9780199540884.013.U32490. ISBN   978-0-19-954088-4 . Retrieved 24 January 2019.
  18. ↑ Kunal, Dutta (19 November 2013). "'I lack a spoilt child to run the business': Hi-fi tycoon Julian Richer to leave company to his staff". The Independent. Retrieved 19 February 2014.
  19. ↑ Jonathan, Moules (19 November 2014). "Richer Sounds business to be bequeathed to employees". Financial Times. Retrieved 19 February 2014.
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  22. ↑ "Music to their ears: Richer Sounds boss's move is warmly welcomed". The Times . 16 May 2019. Retrieved 16 May 2019.
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  24. ↑ "Richer Sounds founder hands business to staff". Financial Times . 14 May 2019. Retrieved 14 May 2019.
  25. ↑ "Richer Sounds owner hands over control of TV and hi-fi retailer to staff". The Independent . 14 May 2019. Retrieved 14 May 2019.
  26. ↑ "Vodafone dividend cut is a cautious move, not cause for panic". The Guardian . 14 May 2019. Retrieved 14 May 2019.
  27. ↑ "Richer Sounds founder hands control to staff". The Times . 15 May 2019. Retrieved 15 May 2019.
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  29. ↑ "Forget Uber, it's Julian Richer who has shown us how to save capitalism – by giving away his business". The Independent . 15 May 2019. Retrieved 15 May 2019.
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  32. ↑ "From rags to Richer". The Economist . 3 October 2019. Retrieved 3 October 2019.
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  34. ↑ "Vanessa Feltz: Boycott and Retailers". BBC. 11 September 2019. Archived from the original on 10 October 2019. Retrieved 11 September 2019.
  35. ↑ Portas, Mary (16 December 2019). "Work Like A Woman: Good Business with Julian Richer". Work Like A Woman. Retrieved 19 December 2019.
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  37. ↑ "Outstanding Contribution 2020". 5 November 2020. Retrieved 25 May 2021.
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  39. ↑ "Julian Richer: Sound Advice" . Retrieved 31 July 2022.
  40. ↑ "Which? names Richer Sounds and Toolstation as UK's best-rated shops". The Guardian. 13 May 2017.
  41. ↑ "Richer Sounds – The UK's Hi-Fi, Home Cinema & TV Specialists!". richersounds.com. Retrieved 22 January 2019.
  42. ↑ "The Persula Foundation". Funding For All. Retrieved 22 January 2019.
  43. ↑ "High fidelity: Julian Richer rewards staff loyalty with holiday homes". The Independent. 20 November 2013. Retrieved 22 January 2019.
  44. ↑ "For Julian Richer, poorer is better". Church Times. 5 June 2020. Retrieved 26 June 2020.
  45. ↑ "Archbishop of York's legacy of love and charity – The Yorkshire Post says". The Yorkshire Post. 26 April 2020. Retrieved 8 June 2020.
  46. ↑ "Archbishops of York's charity reaches major milestone". The Yorkshire Press. 17 November 2020. Retrieved 8 June 2020.
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  48. ↑ "About ASB Help". ASB Help. 17 November 2020. Retrieved 8 June 2020.
  49. ↑ "ASB Help". Help for Victims. 17 November 2020. Retrieved 8 June 2020.
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  51. ↑ Kinder, Tabby (28 May 2018). "Richer Sounds boss puts tax avoiders on the record". The Times. ISSN   0140-0460 . Retrieved 17 January 2019.
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  53. ↑ "Amazon could be a big winner of Rishi Sunak's investment tax break". The Guardian. 4 March 2021.
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  56. ↑ Moon, Louise; Field, Matthew (8 June 2021). "Sunak wants the City to be exempt from G7 tax raid". The Telegraph.
  57. ↑ Hiscott, Graham (2 June 2021). "Eight of world's richest tech titans 'avoided £1.5bn UK tax in just one year'". mirror.
  58. ↑ Sheldrick, Giles (3 June 2021). "Tech giants like Amazon and Facebook 'avoid £1.5bn in UK taxes'". Express.
  59. ↑ "Starbucks' European unit pays $183m to US owner despite dip in growth". The Irish Times .
  60. ↑ "TaxWatch cited in Parliament". Parliament Live. 13 April 2021.
  61. ↑ "TaxWatch included in International Tax Review's 2020-21 Global Tax 50". 10 February 2021.
  62. ↑ Lynch, Russell; Williams, Christopher (16 November 2019). "Hi-Fi entrepreneur Julian Richer bankrolls CBI Good Business Charter accreditation". The Telegraph. Retrieved 5 December 2019.
  63. ↑ "A woke business gathering seems oddly in tune with Labour". The Economist. Retrieved 5 December 2019.
  64. ↑ Burden, Lizzy (10 February 2020). "Richer Sounds founder's 10 corporate commandments for better behaved businesses". The Telegraph. Retrieved 10 February 2020.
  65. ↑ "Good Business Charter Accredited Organisations". Good Business Charter. 17 November 2020. Retrieved 8 June 2020.
  66. ↑ Kelly, Liam. "Julian Richer's sound intentions". The Times. Retrieved 9 February 2020.
  67. ↑ "Richer Sounds chief Julian Richer takes aim at zero-hour contracts". The Telegraph. Retrieved 14 January 2020.
  68. ↑ "Rise in redundancies caused by Covid-19 'tip of iceberg'". The National. Retrieved 24 March 2021.
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  70. ↑ Justice, Zero Hours. "Zero Hours Justice Celebrates Commitment to Real Living Wage". PRLog. Retrieved 24 March 2021.
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  73. ↑ Hutton, Will. "Tories care more about fairness than you might think". The Times. Retrieved 20 December 2021.
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  75. ↑ "The Richer Way". Amazon.co.uk. Retrieved 1 March 2019.
  76. ↑ Timpson, John (12 September 2010). "John Timpson: why I rate Richer Sounds". ISSN   0307-1235 . Retrieved 1 March 2019.
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  78. ↑ "10 steps to top-in-class employee engagement". managementtoday.co.uk. Retrieved 1 March 2019.
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  81. ↑ "Can this 'ethical capitalist' solve the UK's social housing crisis?". The Guardian. 31 March 2024. Retrieved 22 April 2024.
  82. ↑ "We have a housing disaster. Here's how to fix it". The Times. 14 April 2024. Retrieved 22 April 2024.
  83. 1 2 "A vintage future" . Retrieved 27 May 2018.
  84. ↑ "Julian Richer – what a Christian public leader". eauk.org. Retrieved 20 May 2019.
  85. ↑ "Ten Millennia - Live At Kew Gardens (Supporting The Corrs)". www.youtube.com. Archived from the original on 21 December 2021. Retrieved 30 December 2020.
  86. ↑ "Supporting Texas". www.tenmillennia.com. Retrieved 30 December 2020.
  87. ↑ "Live at the Manchester Apollo". www.tenmillennia.com. Retrieved 30 December 2020.
  88. ↑ "Supporting Jools Holland 12-13th November". www.tenmillennia.com. Retrieved 30 December 2020.
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