Boot brand back under Australian ownership - leatherbiz: Leading news Leatherbiz

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Boot brand back under Australian ownership

20/10/2020

Australian entrepreneur Andrew Forrest has taken up the ownership of Adelaide-based boot brand RM Williams.

Business media in Australia said company owned by Mr Forrest had paid around US$135 million to buy the brand from L Catterton, a US-based equity capital fund that has backing from LVMH.

In a statement, Mr Forrest described the boot company as a national icon and said he was proud and humbled to become its owner.

RM Williams has a factory in the Salisbury district of Adelaide, a workforce of 900 and a retail network of 68 shops in Australia.

The premier of the brand’s home state, South Australia, Steven Marshall said Mr Forrest’s investment in the company “spells great news for local manufacturing and local jobs”.



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