Multimillionaires behind sneaker store Culture Kings announce they are stepping back from the business – after opening a shop in Las Vegas
- First US store opened just over four months ago on November 5
- Tahnee and Simon Beard to focus on family and new ventures
The husband and wife couple behind Australia’s Culture Kings sneaker chain have stepped down from running the business after opening their first store in the United States.
Tahnee and Simon Beard’s Las Vegas shop opened just over four months ago on November 5 – a huge achievement for a couple who started with a humble premises on the Gold Coast in 2008.
The Beards feel now is the right time to leave the daily running of the business to others while they concentrate on family and new ventures.
In 2021, the Gold Coast pair sold a half share of Culture Kings – which has had star endorsements from the likes of rapper Snoop Dogg – to US company a.k.a Brands for $300m and took shares for the other 50 per cent.
Mr Beard said the Las Vegas shop is ‘beating expectations’ but that he and his wife ‘are entrepreneurial to our core and the public company … role, it’s not for me, not my best fit’.
‘We have built a great team there and I believe they can go and run it, I am still on the board, and I’m there whenever I can help and guide it,’ he told The Australian.
Tahnee (right) and Simon Beard (left), whose Culture Kings sneakers chain started with one Gold Coast shop, have stepped down from their creation following US expansion success
The Beards have described their business as being built on a passion for ‘music and fashion from different cultures and communities around the world’. Pictured is a Culture Kings store
When it was bought by a.k.a Brands in April 2021, chief executive Jill Ramsey said Culture Kings was set to ‘explode’ globally.
‘Tahnee and Simon have built a compelling business with a highly loyal and extensive customer base,’ she said.
‘We see significant growth opportunities as we work with Tahnee and Simon to introduce and expand the Culture Kings experience in existing and new geographies.’
The Beards have described their business as being built on a passion for ‘music and fashion from different cultures and communities around the world’.
‘Our vision has always been to create the next global retail phenomenon where culture and style collide.
‘We couldn’t have found a better partner than a.k.a to help us continue to scale our business and realise our dream of being the No.1 destination for streetwear across the globe,’ they said.
A.k.a’s interim chief executive Ciaran Long praised the Las Vegas store in a recent quarterly earnings briefing, The Australian reported.
Culture Kings has had star endorsements from the likes of rapper Snoop Dogg, pictured outside its Melbourne store in March 2023
Culture Kings’ Las Vegas store (pictured) opened just over four months ago on November 5, 2022
The Las Vegas outlet, which has a basketball court, barbers, DJs and a recording studio celebrities have used, is set to be a launching pad for more stores.
Mr Long said the hype created from the Las Vegas store had led to more online sales as the brand has become better known.
Though they have had great success, with around $400million in sales every year, Mr Beard had some little niggles of doubts before launching in the US.
However, the Vegas store had customers queuing down the street.
Daily Mail Australia has contacted the Beards seeking comment.