Oliver Tress, the founder of Oliver Bonas, has built a business empire known for its distinctive blend of homeware, gifts, and fashion. The brand, which has become a household name in the UK, is much more than just a successful retail chain — it represents Tress’ journey from humble beginnings to a multi-million-pound business. However, his personal life, especially in recent years, has captured the public’s attention for reasons unrelated to his business achievements. Despite this, Oliver Tress remains a figure of resilience and entrepreneurial spirit.
Early Life and Education
Born in Henley-on-Thames, Oxfordshire, Oliver Tress was the son of a banker and a housewife. His childhood was marked by an adventurous and international upbringing. Tress spent his early years in Sudan, followed by stints in Nigeria, New York, the Netherlands, Zambia, and South Africa. This exposure to diverse cultures and environments would later influence his worldview and his business approach.
Tress attended Marlborough College, an esteemed institution in Wiltshire, where his peers included notable figures such as the Duchess of Cambridge, comedian Jack Whitehall, and actress Emerald Fennell. His next academic venture took him to Durham University, where he studied anthropology. During this period, Tress developed a passion for collecting and sharing cultural artifacts. He was known for bringing back unique gifts from his travels, which he sold at country fairs or charity events.
From Watches to Retail: The Birth of Oliver Bonas
Tress’ journey into retail began in an unconventional manner. While many of his peers were pursuing corporate graduate schemes, Tress felt stifled by the idea of working for a large organization. In his own words, he found the corporate world “restrictive” and wanted to create something on his own. After a brief stint interviewing for jobs that didn’t excite him, he turned to his passion for travel and unique items.
While living in Hong Kong with his parents, Tress began selling watches from his living room. The items, which he sourced from his travels, were an instant hit with his friends, sparking the idea for his first retail store. In 1993, he opened a small shop on Fulham Road in London, selling handbags, jewelry, and other lifestyle products. The store was named after his girlfriend at the time, Anna Bonas, the cousin of Cressida Bonas, who was once in a relationship with Prince Harry.
Tress ran the store with passion, even moonlighting as the cashier in the early days. He was so deeply involved in every aspect of the business that he personally refurbished the shop and hired close friends to help. The sense of community and authenticity he fostered in the early years laid the foundation for the success that would follow. For Tress, the most euphoric moment was the first Saturday when sales surpassed expectations, giving him the confidence that he was on the right path.
Building the Brand
The early success of Oliver Bonas was no accident. Tress infused his personal philosophy into the business from the outset. His approach was heavily influenced by a quote from Hans Christian Andersen: “Just living is not enough: one must have sunshine, freedom and a little flower.” Tress saw his company as the “little flower” in this analogy, aiming to provide experiences and meaningful products rather than just transactional retail.
By 2012, Oliver Bonas had expanded beyond its first store, with multiple locations across the UK. The company’s success was largely due to Tress’ focus on offering unique, quality items that were designed to resonate with customers on an emotional level. As he transitioned from handpicking every product to overseeing a design team, the company grew to offer a wide range of homeware, furniture, and gifts. However, the business did face challenges along the way. The global financial crisis of 2008 had a significant impact, and Oliver Bonas’ sales dropped by 20 percent. In 2011, during the London riots, Tress was assaulted by looters outside one of his stores, requiring medical treatment for head injuries.
Despite these setbacks, Tress’ commitment to his staff remained unwavering. In 2015, Oliver Bonas became the first high street retailer in the UK to pay its employees a living wage. Tress believed that his staff’s hard work and loyalty deserved to be rewarded, particularly as the cost of living continued to rise. This focus on employee well-being translated into business success, as Tress continued to open new stores and expand his brand’s footprint.
Expansion and Financial Success
Oliver Bonas went from a small store on Fulham Road to a major retail brand with over 85 stores across the UK, primarily in London and the South of England. The company’s growth was aided by a £15 million loan from HSBC in 2019, which allowed Tress to open additional locations. By 2019, Oliver Bonas had generated a profit of £2.7 million, with Tress’ estimated net worth around £12 million.
As the brand grew, it began to diversify its offerings. In 2019, Tress launched OB Active, a line of athleisure clothing that was positioned as a playful alternative to brands like Sweaty Betty. This new product line demonstrated Tress’ ability to adapt to market trends and further expand Oliver Bonas’ reach beyond homeware and gifts.
Personal Life and Challenges
Despite his success in business, Oliver Tress’ personal life became the subject of public scrutiny in 2021 when his wife, Gina Coladangelo, became embroiled in a scandal with Matt Hancock, the former UK Health Secretary. Coladangelo, who had been married to Tress for 12 years and had three children with him, was seen publicly with Hancock after news of their affair broke.
Tress, who had kept a relatively low profile in the public eye until then, became a figure of sympathy in the media. He was seen quietly helping his wife pack her belongings into her car after the scandal broke, but since then, he has remained out of the limelight. His focus has shifted to raising his children and managing his business, which has continued to grow despite the personal turmoil.
The Legacy of Oliver Tress
Oliver Tress is a self-made entrepreneur who has successfully turned his passion for travel and unique goods into a thriving business. The story of Oliver Bonas is a testament to the power of resilience, innovation, and staying true to one’s values. Tress’ commitment to quality, community, and employee well-being has made his company a beloved part of the UK retail landscape.
While Tress’ personal life has taken a dramatic turn in recent years, his ability to navigate challenges with grace and his focus on his business and family suggest that he will continue to leave a lasting legacy in the world of retail. As Oliver Bonas continues to grow, Tress’ story serves as an inspiration for aspiring entrepreneurs everywhere.
Conclusion
Oliver Tress’ journey from a young man with a passion for unique goods to the founder of a successful retail brand is a remarkable story of perseverance and vision. His business, Oliver Bonas, is more than just a retail chain — it’s a reflection of his values and his desire to bring joy and experiences to his customers. Despite facing personal and professional challenges, Tress has remained focused on what matters most: his family, his business, and his community. His ability to overcome adversity, both personally and professionally, serves as an inspiration to others, and his legacy in the retail world will undoubtedly continue to grow in the years to come.
