Born June 12th, 1955
Died August 8th, 2024
Paul McGlade left Belfast and the Troubles behind him at a young age, determined to make his mark in Dublin. He succeeded, with a string of highly successful retail ventures under his belt at the time of his death aged 69 earlier this month following a short illness.
McGlade left school at 16 and went to work in the market stalls in Belfast and Newry. In this tough operating environment he would acquire many of the skills that would serve him well in his future career. But 1970s Belfast was a challenging place for any aspiring entrepreneur, particularly one from a nationalist background. At the age of 18, he moved to Dublin. “He saw an opportunity to take on the southerners. He had a lot of hustle in him and he wanted to leverage that hustle and bring it down to the southerners,” his daughter Katie said in a 2023 interview with RTÉ Radio 1 show The Business.
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For different reasons, Dublin was an equally challenging environment. Ireland was entering a deep recession in the late 1970s that would last until the early 1990s.
But friends say one of McGlade’s most enduring characteristics was fearlessness. He opened the Apollo, a discount store, on Moore Street in 1981. By this time he had met his wife, Rita, who was working in Dunnes Stores. She soon joined him at the Apollo. They would have four children together, Paul, Phillip, Katie and William.
McGlade’s talent for spotting emerging trends led to a series of highly successful retail ventures. In the early 1990s the Irish economy began to show signs of life. McGlade noticed a growing demand for lifestyle sportswear. He set up Champion Sports in 1993, which turned out to be an inspired move. The brand grew rapidly, opening new outlets throughout the country. Paddy McKillen, a fellow Belfast businessman, invested in Champion Sports to fund its expansion strategy. Its first big acquisition was in 1999, when it paid £10 million for Marathon, a sports retailer with an annual turnover of £20 million, which gave the new company a combined turnover of £50 million and 26 shops across the country.
McGlade was both a workaholic and a devoted family man, so it was inevitable that his kids would be drafted into his businesses from a young age. From 11 onwards, Katie and Phillip were given the job of standing on Grafton Street every Saturday, where they had to count the number of people carrying Champion Sports bags and compare the final tally with competitor brands.
If spotting emerging trends was one of his main strengths in business, timing was another. His helm at Champion Sports spanned the duration of the Celtic Tiger. Just as he set up the retailer as the Irish economy roared into life, he exited just before it crashed.
In October 2006, McGlade and McKillen, who each had a 45 per cent shareholding in the company, sold Champion Sports to PCP One, a consortium comprising some of the biggest property developers in the country, including Bernard McNamara, Jerry O’Reilly, Terry Sweeney, David Courtney and Bernard Doyle. Bernard Somers, the financier, chaired the consortium. PCP One paid €40 million for the chain, which in 2006 had annual revenues of €70 million.
The chain’s fortunes fared badly in the 2008 economic crash, and it was sold to JD Sports, a British retail consortium, in 2011 for €19.6 million.
By the time he had exited Champion Sports, McGlade had already embarked on what would be another highly lucrative venture. Again, his nose for a market pointed him in the direction of aesthetics.
At the time, cosmetic treatments were generally for the better-off. He set up the first Thérapie clinic on Molesworth Street in 2001 with the aim of making treatments such as Botox more accessible. The formula has been spectacularly successful. In 2005 he set up Optilase, an eye surgery clinic, which also has branches nationwide.
Thérapie is now the largest aesthetics chain in the EU. It has 75 clinics around the world, with 1,800 employees and revenues of more than €120 million. It recently announced it would open another 65 clinics over the next three years and create a further 1,000 jobs.
Paul and Rita separated on amicable terms in 1998 and would remain friends until his death. Katie and Phillip joined their father in business. Katie is the president international of Thérapie Clinics and Phillip is the chief executive of Thérapie.
Although very affable in private, McGlade largely eschewed the limelight. In a rare interview, he told the Irish Independent in 1999 that the secret of his success was understanding what people wanted. Other ventures over the years included the Pygmalion nightclub on South William Street. “He used to say that the secret to happiness was carrying the spirit of a child into old age. Sadly, he never made it to old age,” Katie, his daughter, said at his funeral.
“He was so much fun to be around. His energy was boundless. He was always gentle. He rarely raised his voice, except in laughter. He was generous with his time and disposition.”
He is survived by his four children, six grandchildren, his brother Johnny, sister Sharon and ex-wife, Rita.