TOWIE star Tommy Mallet says he lost £25m after bitter split from business partner

The Only Way Is Essex star Tommy Mallet has spoken about his brutal legal battle with his business partner, which has seen him lose 'multiple millions'

Reality TV star Tommy Mallet has claimed that he's lost £25million thanks to a recent bitter legal battle.

The Only Way is Essex star, 32, was hit financially after parting ways and subsequently being taken to court by his former business associate earlier this year. Tommy, who had shared ownership of the sneaker brand Mallet London, once graced Forbes' prestigious 30 under 30 list of wealthy young entrepreneurs.

But the entrepreneur, who shares son Brody, three with pregnant wife Georgia Kousoulou, 33, admitted he's lost millions during a candid chat with Abbey Clancy - vowing to rebuild his empire once again.

Tommy stepped down as director of the high-end fashion label Mallet on 31 October 2023, the same day Christopher Stephenson made a comeback as a director after previously stepping down.

"What do you think you've lost from your experience with Mallet?" Abbey asked the Mallet co-founder during their chat, to which Tommy responded, "Multiple millions. In the 20s of millions, probably." The conversation deepened when Pete Crouch's wife pushed further and asked: "But how have you lost it all? Where's it all gone?"

Tommy, who is expected his second child with wife Georgia later this year, then laid bare the harsh realities of business disputes, explaining, "When you go through court cases and you go through, like, madness between partners and stuff like that, yeah, the business is gonna suffer cause you ain't taking care of the business. You're supposed to take care of business. Why are we sitting in court for? We're trying to kill each other over personal stuff. The business is gonna suffer."

He went on to detail the financial pressures impacting his company, stating, "When you go from earning massive money, you set an infrastructure up to cater for that sort of turnover. As soon as that stops, you go from earning loads to losing loads because the infrastructure's still the same."

Last month, Tommy's ex-business partner Evren Ozka broke his silence on their acrimonious split, telling The Sun: "I am the victim and so is my company". Evren and Tommy set up Mallett London back in 2015, using Evren's place as their base. But Evren has claimed that Tommy was keen to pull the plug on their fashion venture, which would've left the whole team jobless.

Despite Tommy's exit from the business, Evren is keeping the name Mallett as the company moniker, saying: "I think it's a great name and I don't want to change it. We founded the company together, and we used my premises for the first year of business to set it up. I invested all of the capital for the business to start.."

Speaking about his legal woes previously, Tommy declared: "I'm fully starting from scratch, something I never thought I'd have to do, everything I built, all of the late nights and early mornings and time away from my family give me one thing knowledge, it's time to go out and do what I originally set out to do...Let's get it, I'm coming for it all!"

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