London Daily

Focus on the big picture.
Monday, Aug 24, 2026

The Amazon sellers who sold up and became millionaires

The Amazon sellers who sold up and became millionaires

Becoming a millionaire was never part of the plan. Michele Venton had left London for Bournemouth, keen to escape corporate life - and decided to try selling dresses online.

"I always had this idea that I would design this range of dresses for a particular woman," she says.

She found a factory to make her wrap dresses, and listed them for sale on Amazon, where she was amazed at the amount of interest they attracted.

"I soon worked out that, 'Hang on!' - There was a huge opportunity here," she says.

Clothes, however, were not the easiest product to sell online - too many problems with sizes, too many returns.

Amazon allows third-party sellers to use its formidable distribution network

But as a mother of two, she had experienced more than once the awkward feeling of realising that her children were going to a birthday party in a couple of days, and had no present to give.

She started selling emergency gifts for parents on Amazon.

In less than four years she was doing nearly £10m worth of business every year, across Europe and the US.

But soon the business got too big. Finding millions of pounds to buy all the stock she needed for the rest of the year was getting difficult. "It was going to need somebody with a lot more capital," she says.

So in 2019, when an offer came along to buy entire her business - for multiple millions - she accepted.

Amazon allows other sellers to list their wares on its website, and will even do the delivery or "fulfilment" for them through its formidable logistics network.

The sheer scale of Amazon means that if they get the products and the marketing right, small sellers can find themselves selling huge amounts quite quickly.

With the pandemic forcing many shops to close, many have seen their sales grow to the point where they find it hard to meet all their orders.

Two years ago, when Ms Venton sold up, it was relatively rare to sell businesses based entirely on selling via Amazon.

The buyer, a private individual, insists that we don't name them or their products, for fear of attracting competitors or saboteurs - such is the hypercompetitive world of e-commerce.

But over the past year, a new generation of firms has sprung up to offer Amazon entrepreneurs like Ms Venton a way to sell their businesses.

The biggest and best-known is a US firm called Thrasio, named after an Amazon warrior in Greek mythology. They are buying one to three businesses a week, with around 10 in the UK, and an appetite for more.

Thrasio founder Josh Silberstein says it is now a lot easier for Amazon retailers to sell up

Founded in 2018, it went from nothing to more than $500m (£360m) in revenue in its second year, according to its founder Josh Silberstein.

"Back then [in 2018], it took seven months to sell a company, there were more sellers than buyers, and it was just a gigantic mess. The whole thing was an awful experience for sellers," he says.

Just three years later, there are 64 companies around the world set up to buy Amazon-based businesses, according to the research firm Marketplace Pulse. Together they have raised nearly $6bn since April 2020, it estimated.

In general they look for sellers which have managed to get their heads above the chaotic hubbub of items for sale on Amazon, building up lots of positive customer reviews, and appearing in the first page or two of items that appear in user searches.

Thrasio now owns brands across a wide range of products

The best Amazon sellers make attractive investments because they often have bigger profit margins than their offline competitors, yet still sell for less than their offline counterparts.

The buyout firms hope that by bringing the professional skills and resources of a larger business, they can help the brands grow faster and become even more profitable.

Amazon buyout firms have sprung up in the UK, too, such as Heroes, founded by two identical twins, Riccardo and Alessio Bruni.

One of their acquisitions was Davaon, a garden tools brand founded by David Stephen. After many years as a travelling salesman, spending long hours in traffic jams and lonely hotel rooms, he was looking for a job that would give him more time with his family.

David and Tracy Stephen plan to start a new company

His wife suggested selling things on Amazon. After a $5,000 course, he found what he felt was an underserved niche - garden tools.

After many hours of trawling through the Chinese website Alibaba to find a supplier, he had a business, a brand, Davaon, and $10,000-worth of secateurs in his garden shed.

Loppers, shears and garden saws soon joined the range, and by 2020 he and his wife were selling more than £2m a year, bought from suppliers in Taiwan whom they still haven't met in person.

But the goal of an easier life was as far away as ever. "It got to the point where we looking at 12 to 15 hours a day. I was doing the weekends, it was non-stop.

The Stephens sold a range of gardening equipment

"If a customer emails on the weekend, you have to answer. I was dealing with stock coming in, we were packing the boxes ourselves, sending them to Amazon. There was never really a break."

He started to receive offers for his business last year. At first he thought they were rival sellers, digging for information.

Eventually, however, Mr Stephen sold to Heroes, partly, he says, because they took the trouble to actually visit him in person at his Northamptonshire home.

Despite earning enough to retire on, there's something about the thrill of building brands online that makes it hard for entrepreneurs to step away.

Mr Stephen plans to start a new venture soon, and Ms Venton has already launched another Amazon business. It sells "homewares" - but for fear of copycats, that's all she'll say.

The fact that there's an easy way to cash out after a few years is an extra incentive. "This is totally, totally my game plan. I am building this to sell," she says.

But though the potential rewards may be rich, it certainly isn't easy money.

"If you are prepared to have no income for 18 months and work 12-hour days to get this thing off the ground, fine," she says. "There are easier ways to make a buck."

Newsletter

Related Articles

0:00
0:00
Close
Prime Minister Andy Burnham to Give Ukraine Classified Storm Shadow Blueprints for Domestic Missile Production
UK Graduate Job Vacancies Plunge 45% to Lowest Levels on Record
Government Audit Reveals Pressure on UK Hospitality From Business Rates and Rising Costs
Kindertransport Survivor Prepares to Revisit European Sites Linked to Her Family’s Wartime Separation
Northern England Transport Operators Strengthen Contingency Plans as Travel Demand Rises
New Implant Trials Offer Treatment Prospects for Patients With Refractory Angina
South Wales Reviews Wildfire Response After Exceptionally Dry Summer
UK Treasury Prepares Autumn Fiscal Statement Amid Spending and Defense Pressures
Norfolk Records First Wild Beaver Births in More Than Five Hundred Years
Historic Portrait of Benjamin Disraeli Reported Missing From Parliament’s Art Collection
Five People, Including Police Officers, Killed in A66 Crash as Families Pay Tribute
Most English Secondary Schools Found to Fall Short of National Healthy Food Standards
UK Think Tank Says Productivity Growth May Be Stronger Than Official Data Shows
Reform Party Proposes Lower Social Housing Priority for Foreign-Born UK Citizens
UK Government Plans Business Rate Overhaul to Ease Pressure on Pubs and Hotels
New Daily Diabetes and Weight-Loss Pill Launches Across NHS Pharmacies in England
UK Graduate Job Vacancies Fall to Lowest Level in a Decade
UK Prime Minister Andy Burnham Visits Kyiv to Reaffirm Long-Term Military Support for Ukraine
Iranian Hackers Shut Down British Power Plant for Four Days in Landmark Cyber Attack
Novak Djokovic Reveals Relentless Self-Doubt and Rejects Retirement in New Documentary
Trump Imposes 50% Tariffs on Canadian Goods After Bilateral Trade Talks Collapse
First Bus Bars Unaccompanied Under-Sixteens From Evening Services in Stoke-on-Trent
Lithium-Ion Battery Fires Cost UK Waste Sector About One Billion Pounds a Year
Reform UK Proposes Lower Social Housing Priority for Foreign-Born Naturalised Citizens
UK Government Deploys AI Drones in Crackdown on Illegal Waste Dumping
EU Biometric Border Checks Cause Disruption for British Travellers and Freight Operators
UK Expands Voluntary Drug Treatment Programme for Sex Offenders to Twenty Prisons
CrossCountry Cancels Most Services After Major Power Failure at Control Centre
Met Office Warns El Niño Could Bring Severe Autumn Storms and Higher Food Prices
Resolution Foundation Says UK Productivity Growth May Be Stronger Than Official Data Suggest
Andy Burnham Proposes Giving Regional Mayors Greater Planning Powers
UK Government Overhauls Planning Rules to Accelerate Housing Near Transport Links
Russia Withdraws Ambassador to Britain and Warns of Retaliation Over UK Drone Supplies to Ukraine
Iran-Linked Hackers Blamed for Cyberattack That Shut Down UK Power Plant
Andy Burnham Pledges UK Support for Long-Range Missile Production in Ukraine
Australia Combines Indigenous Fire Knowledge With Satellite Tech to Combat Catastrophic Wildfires
Father and Son Jailed in Scotland Over £900,000 Airport Cannabis Smuggling Operation
UK Fraud Reports Surge Sevenfold as Criminals Exploit QR Codes in Parking Meters and Phishing Emails
Brighton Thrash Aston Villa in Four-Goal Opening Half as Manchester City Trail Bournemouth
Erin Patterson Appeals Triple Murder Convictions After Hotel Mixed Sequestered Jury With Prosecution
Bank of England Maintains Close Watch on Banks Amid Global Economic Uncertainty
Warm Weather and Tourism Support UK High Street Spending During Summer
Westminster Faces Continuing Political and Administrative Fallout From Epstein Files Release
UK Invests in Domestic Defence Drone Manufacturing to Strengthen Military Supply Chains
Around Five Million UK Households Face Higher Mortgage Payments by 2028
Bluetongue Virus Cases Rise Across England, Wales and Scotland
UK Government Holds First National Day for Victims and Survivors of Terrorism
Historic Summer Droughts Threaten UK Harvests and Put Further Pressure on Food Prices
UK Economy Holds Up in Second Quarter Despite Global Energy and Geopolitical Pressures
UK Opens National Artificial Intelligence Safety Testing Facility
×