Oliver Tress: The Rise, Fall, and Resilience of the Oliver Bonas Founder
Oliver Tress is a name synonymous with success in the UK retail industry, particularly known for his creation of the popular high-street store chain, Oliver Bonas. His journey from a young entrepreneur with an adventurous spirit to a well-established businessman is an inspiring story. However, his personal life has also attracted significant attention, especially after his separation from wife Gina Coladangelo, amid her highly publicized affair with former Health Secretary Matt Hancock. This article delves into the life of Oliver Tress, covering his early beginnings, career milestones, personal life, and the challenges he has faced, including his current status.
Early Life and Education
Born in May 1967 in Oxfordshire, England, Oliver James Mark Tress grew up in a family that exposed him to diverse cultures and experiences. His father was a banker, and his mother was a housewife. Tress’s upbringing was unique, as he moved from country to country with his parents, living in Sudan, Nigeria, New York, the Netherlands, Zambia, and South Africa during his formative years. This exposure to various cultures likely influenced his later business ventures, particularly his keen interest in sourcing unique products from around the world.
Tress was educated at Marlborough College in Wiltshire, where he mingled with several notable peers, including the Duchess of Cambridge and comedian Jack Whitehall. Following his education at Marlborough, Tress pursued a degree in anthropology at Durham University. He graduated in 1989 as a member of Hatfield College, where he honed his interest in understanding diverse human experiences—a trait that would later influence his approach to business.
The Beginnings of Oliver Bonas
Oliver Tress’s entrepreneurial journey began when he decided not to follow the traditional corporate path like many of his university peers. Instead, he ventured into retail, drawing inspiration from his travels. While his friends were securing corporate graduate jobs, Tress was sourcing unique products to sell, starting with watches from his living room. He soon realized that he could turn his passion for unique items into a business.
In 1993, with £3,000 of his own savings, Tress opened the first Oliver Bonas store on Fulham Road in London. The store sold a range of handbags and jewelry sourced from Hong Kong, where his parents were living at the time. The name of the store was inspired by his girlfriend at the time, Anna Bonas, whose name Tress decided to keep despite their later breakup. The business quickly grew in popularity, and Tress went on to hire friends to help refurbish the store and serve as part-time staff. What started as a small venture turned into a thriving business, marking the beginning of Oliver Bonas as a household name in the UK.
Expansion and Business Success
Tress’s entrepreneurial vision extended beyond selling handbags and jewelry. Over time, Oliver Bonas evolved into a lifestyle store offering homeware, fashion, and gifts, all with a unique, contemporary twist. Tress’s creative approach to curating products from across the globe, particularly those that reflected his worldly experiences, allowed Oliver Bonas to stand out from other retailers.
Oliver Bonas faced several challenges along the way, including the financial crisis of 2008, which saw sales dip by 20%. Despite this, Tress persevered, and by 2019, he had secured a £15 million credit facility from HSBC, enabling him to expand the business further. By 2023, Oliver Bonas had expanded to 83 stores across the UK, with a reputation for offering distinctive homeware and fashion items. Tress’s commitment to providing high-quality products and treating staff well played a major role in the brand’s success. In 2015, Oliver Bonas became the first UK high street chain to pay its staff the living wage, a decision Tress described as a reflection of hard work and loyalty.
Personal Life: Family and Challenges
Oliver Tress’s personal life has, at times, attracted as much attention as his business success. In 2009, he married Gina Coladangelo, a former director at the PR and lobbying firm Luther Pendragon, who later became the marketing and communications director at Oliver Bonas. Coladangelo was instrumental in the growth of the business, and together they had three children. The family lived in a five-bedroom Edwardian house in Wandsworth, London, where they employed a live-in nanny to help manage their busy lives.
However, in 2021, Tress’s life took a dramatic turn. Coladangelo was involved in a highly publicized affair with Matt Hancock, the then-Health Secretary, which led to Hancock’s resignation after images surfaced showing him kissing Coladangelo in his office, violating COVID-19 social distancing restrictions. The affair rocked both the political world and Tress’s personal life. It was reported that the couple separated following the scandal, and Tress, who had been married to Coladangelo for 12 years, was left to care for their children while coming to terms with the situation.
In the wake of the affair, Oliver Tress kept a low profile and refrained from making public statements about the situation. He was seen in the days following the scandal helping Coladangelo pack her belongings into a car, but reports suggest that the separation was amicable, with Tress focusing on his business and private life. Since then, Tress has continued to manage Oliver Bonas, and his professional reputation remains intact despite the challenges in his personal life.
Oliver Tress Today
As of today, Oliver Tress remains focused on the future of his business. He continues to lead Oliver Bonas, which remains one of the UK’s most recognizable lifestyle chains. His dedication to unique design, high-quality products, and creating a positive work environment has helped the company thrive, even in the face of personal adversity. His net worth is estimated to be around £12 million, a testament to his entrepreneurial success.
Tress has largely stayed out of the public eye since the fallout from his marriage, preferring to concentrate on his business and family. However, his resilience and ability to navigate difficult personal circumstances while maintaining his business acumen have earned him respect in the retail industry.
Oliver Tress Net Worth and Legacy
Oliver Tress’s journey from a young man selling watches in his living room to becoming the head of a multimillion-pound retail chain is a remarkable story of entrepreneurship. His net worth, estimated at £12 million, reflects the success of Oliver Bonas, a brand that has resonated with UK consumers for over two decades.
Despite personal setbacks, Tress’s legacy is firmly tied to his ability to build and sustain a business that values creativity, individuality, and quality. His leadership and vision have ensured that Oliver Bonas remains a prominent player in the UK retail market, and his story continues to inspire aspiring entrepreneurs worldwide.
Conclusion
Oliver Tress’s story is one of resilience, creativity, and perseverance. From his early years as a globetrotter to his success with Oliver Bonas, Tress has proven that with vision and hard work, it’s possible to build a thriving business. His personal life, while impacted by the scandal involving his wife, has not overshadowed his accomplishments in the business world. Today, Oliver Tress remains a respected figure in the UK retail industry, and his journey serves as a reminder of the importance of adaptability and resilience in both business and life.
