R.M. Williams Returns to Australian Ownership

His_Holiness on 19/10/2020 - 12:16
Last edited 19/10/2020 - 12:32 by 1 other user

RM Williams bought by Australian mining tycoon Andrew 'Twiggy' Forrest

An investment company owned by mining magnate Andrew 'Twiggy' Forrest and his wife Nicola has bought iconic bootmaker RM Williams, returning it to Australian ownership.

The Adelaide-based outfitter, founded by bushman Reginald Murray Williams in 1932, had been in the hands of Louis Vuitton-backed private equity firm L Catterton.

It employs 400 people at its Salisbury workshop in Adelaide and another 500 across Australia.

"Nicola and I are incredibly proud and humbled to be able to bring RM Williams back under Australian ownership," Mr Forrest said in a statement.

"RM Williams is a quintessential Aussie brand with a long and proud history of high-quality Australian craftsmanship."

Fashion & Apparel

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Comments

  • iforgotmysocks on 19/10/2020 - 12:28
    +3

    Thanks for letting us know.

  • Drakesy on 19/10/2020 - 12:29
    -1

    k

  • AustriaBargain on 19/10/2020 - 13:08
    +1

    The brand can't be worth that much anymore if an Australian can afford to buy it and if a big intentional brand let it go.

    • Cowl on 19/10/2020 - 13:55
      +1

      An Australian worth 12.6 billion USD.

      • AustriaBargain on 19/10/2020 - 13:57

        Granted that is more than Trump's entire family enterprises combined.

      • EightImmortals on 19/10/2020 - 13:59
        +2

        So about 2 pairs of their shoes then?

  • djones145 on 19/10/2020 - 13:20
    +4

    with the government including in the budget spending for local manufacturing, he must have seen some benefit (tax , subsidies grants etc)

    • Last Seen on 19/10/2020 - 17:50
      +1

      You need lots of shiny new mining equipment to produce leather, right?

  • nephilim on 19/10/2020 - 13:25
    -1

    Employee's: Factory is a health and safety nightmare
    Mangement: lol who cares
    Employee nearly dies, factory fined 3million dollars
    Management: We havnt made a profit because a evil fine that couldnt be avoided, better tell owners
    Owners: Lets sell, Hi China
    China: Sure hi
    Media: Oh no!!!
    Mining dude: Hi Hi

    • hashtagbargain on 19/10/2020 - 13:37

      You should write memoirs.

    • payton on 19/10/2020 - 13:50

      Mining dude: Hi Hi

      Mining magnate with strong ties to communist China Govt: Hi Hi kekeke

    • AustriaBargain on 19/10/2020 - 14:00

      None of it matters if the shoes fall out of style. And if they become a worldwide sensation is the little factory in Adelaide going to supply the world's R M Williams demands. Or will they just be made in China anyway. Maybe Adelaide's sister city in China will enjoy some economic growth from R M Williams turning into the next Ugg Boots.

  • Orico on 19/10/2020 - 14:43
    +1

    Good now drop the price back to $395 RRP.

    Twiggy's biggest customer is China because they buy iron ore from Fortescue. So instead of buying iron ore, they give him back RM Williams. lol

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