Richer Sounds founder Julian Richer has made plans to hand his business to his employees when he dies.
Richer, who owns 100% of the business, has set up a trust model similar to John Lewis that will be enacted on his death.
He told the Financial Times: “My life’s work is my legacy and I haven’t got a spoilt child to run the business.”
Richer set up his first store aged 19 near London Bridge station and today has 52 shops, 46 of which are owned by him.
The business has been held up as a beacon for customer service and staff engagement in retail.
Richer Sounds’ turnover increased 4.3% to £144.3m in the 53 weeks to May 4, while operating profit rose 21% to £6.9m.