Billionaire Solomon Lew's $2m payday from rising fortunes of skate group Globe
Billionaire Solomon Lew has skated off with a $2 million-plus payday in the short term, from his stake in skateboard and street fashion company Globe International.
Globe, which is controlled by the three Hill brothers with a combined stake of about 68.5 per cent, has engineered a strong turnaround in its financial performance, with each of its major divisions delivering sales revenue growth of 20 per cent or more, while its fast-growing workwear business F.X.D has been a standout as its sales doubled in a year. Globe thinks the Function by Design workwear brand, which aims to bring more style to tradespeople and on worksites, has the potential to turn into a global player in the highly competitive workwear market.
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