Australia's newest 'BILLIONAIRES': Founders of Culture Kings and fashion label loved by Kylie Jenner and Selena Gomez are set for a huge $1.06bn payday - after starting with just ONE store on the Gold Coast Windfall for entrepreneurs Wez and Eirin Bryett and Tahnee and Simon Beard Princess Polly, Petal & Pup and Culture Kings brands all started in Queensland Companies are now part of San Francisco-based a.k.a Brands Parent company is set to list on New York Stock Exchange Successful float could lead to $1BILLION payday for the couples By Pádraig Collins For Daily Mail Asustralia Published: 06:48 BST, 21 September 2021 | Updated: 06:48 BST, 21 September 2021 Viewcomments Australia's newest business success story is a case of rag trade to riches, with a clothing company listing on the New York Stock Exchange (NYSE) expected to lead to an estimated $1 billion payday for two Queensland couples. Fashion retailers Princess Polly, Petal & Pup and Culture Kings, which began with one shop on the Gold Coast, are part of the San Francisco-based fashion company a.k.a Brands, which is owned by private equity firm Summit Partners. Princess Polly has been worn by the celebrities Kylie Jenner and Selena Gomez and has almost 100 million followers on Instagram. Simon Beard, 36, and his wife Tahnee, 32, are set to make a killing as the fashion brands they founded list on the New York Stock Exchange Summit is set to float a.k.a. Brands on the NYSE and hopes to sell 13.8 million shares at $US18 each, raising $US262m ($362m). A successful float will value the business at $US2.3bn, adding a total of $US773m ($1.06bn) to the wealth of Princess Polly and Culture Kings’ Australian founders, Wez and Eirin Bryett and Tahnee and Simon Beard. The Beard's 17 per cent share of a.k.a. will be valued at $US404m when it is listed on the NYSE, and the Bryett's 15.6 per cent will be worth $US369m. Tiffany Henry, the founder of Brisbane-based online fashion boutique Petal & Pup, will receive a payout of $22.3m as part of a minority repurchase of the remaining 27 per cent stake in the business not already owned by a.k.a. When it was acquired by a.k.a. last April, chief executive Jill Ramsey said Culture Kings is set to 'explode' globally. Culture Kings (stock image of customers in front of a store) started on the Gold Coast with just one shopfront 'Tahnee and Simon have built a compelling business with a highly loyal and extensive customer base,' she said. 'We see significant growth opportunities as we work with Tahnee and Simon to introduce and expand the Culture Kings experience in existing and new geographies.' Mr Beard, who earlier in his career made a living selling designer hats and sneakers on eBay, is looking forward to tapping into the lucrative US market, which he labelled 'very large'. Princess Polly has been worn by the celebrities such as Kylie Jenner (pictured) and Selena Gomez The Beards said their business was built on a passion for 'music and fashion from different cultures and communities around the world'. 'Our vision has always been to create the next global retail phenomenon where culture and style collide. We couldn’t have found a better partner than a.k.a. to help us continue to scale our business and realise our dream of being the No.1 destination for streetwear across the globe,' they said. Share or comment on this article: All rights reserved for this news site (dailymail) and under his responsibility