Towie’s Tommy Mallet is raking in millions as his profits rise £3.5m in just a year from trainer business
TOWIE star Tommy Mallet is raking in millions as profits for his lucrative footwear brand rocket to £3.5 million in a year.
The 28-year-old star now enjoys a luxury lifestyle thanks to an annual turnover that has risen from £800,000 last year to over £3 million, new documents reveal.
The reality favourite worked his way up from rather humble beginnings to the millionaire he is today.
Tommy, who launched Mallet in 2015, has also opted to not pay himself a penny.
He appears to be focused on making the Essex-based company more successful and has not taken dividend payments despite last year’s success.
Tommy and co-owner Evren Ozkarakasli paid themselves £50,000 each the year before, but decided against any payment this time round.
The company employs just six staff with three working in sales, marketing and distribution and the other three in admin.
The firm made so much money it was hit with a whopping £700,000 corporation tax bill.
The footwear brand aims to use high-quality materials at an affordable price.
Mallet shoes are now stocked in stores such as Selfridges and Tommy recently attended Paris Fashion Week to showcase the stylish clobber and looks set to rival fellow Towie star Mark Wright in the reality TV rich lists.
Tommy previously revealed that he was bullied at school when his family were unable to afford stylish trainers.
Speaking of the traumatic ordeal, 25-year-old Tommy told : "I'm not going to lie, it didn't make me feel good at all.
"But at the end of the day everyone goes through hard times. Not being able to afford them made me want to push forward and prove to not only them, but also to myself, that I could get to where I wanted to be, and be even more than that!"
Tommy - who left school without any GCSEs - also told the publication how he had to stay on the "right path."
He explained: "I feel like at one point in my life I definitely could have had the potential to go down the wrong path but ultimately, I knew that I wanted to do things the right way and to succeed. So staying on the right track was important to me."
He added: "When I was younger I never had enough money to buy a pair of trainers that I genuinely liked because they were all so expensive, so I put pen to paper and decided to design something similar.
"We went from having a £50,000 turnover at the end of our first year to having a turnover of around £2.5 million towards the end of our second year."
Tommy also claimed that his reputation as a reality star doesn't bother him.
He said: "I've worked hard and become successful, wherever I'm from and whatever the perception is.
"I'd advise anyone who wants to do the same to find something you believe in and don't stop until you get it there."
Tommy and girlfriend Georgia Kousoulou yesterday revealed that they are having a baby boy in a sweet gender reveal.
The pair took to Instagram today to let their followers know the exciting news, although admitted they'd known themselves for a while.
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The TV couple who have been together for six years are due to welcome their first baby in May.
The Sun has contacted a rep for Tommy.