Former The Only Way Is Essex star Tommy Mallet has opened up about his financial downfall following a tumultuous year. After a bitter court battle with his ex-partner, Evren Ozka, over their trainer brand, Mallet London, Tommy revealed he has gone from being “cash rich” to having just £5,000.
The dramatic admission came on a recent episode of the Everybody Wants To Be Us podcast. There, he candidly discussed losing his millions and starting over.
“I was very cash rich at one point. I’d always have four mil in the bank,” the 32-year-old said. “But now I’ve probably got five grand in and I’m like, how am I going to pay for everything?”
Tommy Mallet, who co-founded Mallet London in 2015, built the brand into a multimillion-pound business.
However, a year-long feud with Ozka led to a costly legal battle and his exit from the company in October 2023. “I’ve sold all my assets to defend myself and starting from scratch,” Tommy admitted. “Just call me the monk who’s sold his Ferrari for a bit.”
Launching CTRNE World’s ‘Success Crystal’ Sneakers
Despite the setbacks, Tommy Mallet isn’t giving up. He’s gearing up for a major comeback with his new sneaker brand, CTRNE World, which he believes will “change the world of fashion forever.”
The brand’s innovative twist? Each pair of trainers comes with a “success crystal” embedded in the sole, meant to bring wearers wealth, prosperity, and success. The name CTRNE is derived from the citrine crystal, which is believed to promote these very qualities.
In his podcast, Tommy discussed his vision for his new venture. “I wanna get to the point where I’m in my 60s and I’m so content I’ve done everything that I was destined to do that I’m at peace with my life. And I’m not going to do that by worrying about everything else.”
Fans are already buzzing about the concept, with one Instagram user commenting, “This is absolute genius mate! Such an innovative concept! Wow! I want a pair!” Another fan chimed in, saying, “This is literally what you call ‘changing the industry,’ I hope there’s a unisex or female range, I so want a pair.”
The Struggles and Successes of a Former TOWIE Star
Tommy Mallet’s journey to success has been anything but smooth. After gaining fame on The Only Way Is Essex, he made a name for himself in the fashion industry with Mallet London.
But the last year saw him embroiled in a legal battle with his former business partner, Evren Ozka, over control of the company.
In October 2023, Tommy posted on Instagram. He sold everything to protect himself. He wrote, “It’s probably not over, but as it stands I can work and support my family. I’ve sold all my assets to defend myself and starting from scratch, but I’ve got some wonderful companies, and I will give it my all to get it back.”
Ozka, however, tells a different side of the story. In an interview with The Sun, he claimed that Tommy wanted to shut down the company.
He added, “During the case, all details were looked at and they decided we were right and what he did was ethically wrong and legally we won.”
While Tommy’s exit from Mallet London was painful, it’s clear that he’s focused on rebuilding. With CTRNE World’s “success crystal” sneakers set to debut, the former reality star is optimistic. He is determined to prove he can still make waves in fashion.
Tommy’s New Documentary: The Rise and Fall of His Empire
Along with his new shoe brand, Tommy announced a documentary. It will chronicle the rise and fall of his personal empire.
The former TOWIE star hopes that by sharing his story, he can inspire others to bounce back from hardships and setbacks.
“I want to show people that no matter how low you fall, there’s always a way to climb back up,” Tommy said. His desire to support his growing family drives him. He and wife Georgia Kousoulou are expecting their second child.
With CTRNE World on the horizon and a documentary in the works, Tommy Mallet is set to reclaim his spot in the world of business and fashion.
