Hugh Jackman-Backed Boot Brand R.M.Williams Could Soon Have a New Owner
R.M.Williams, an Australian heritage brand known for its handcrafted Chelsea boots, is reportedly mulling a sale.
The Australian Financial Review reports that the company’s owners brought in Goldman Sachs to look for potential buyers. In addition, sources told the publication that the owners are looking for an asking price of $400 million to $500 million. Reps for the brand did not return requests for comment.
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Australian actor and director Hugh Jackman became a private investor in the label in 2015. R.M.Williams is majority-owned by LVMH-backed private equity firm L Catterton Asia, which paid only $110 million for the business in 2014. IFM Investors is the other minority shareholder. If sold for the price it’s seeking, Jackman could receive as much as $25 million for his 5% ownership, according to the Sydney Morning Herald.
Jackman was announced as an ambassador for the brand’s Craftsman boots this year. “R.M.s have been a part of my life across the entire journey, from my early stage days to where I am today,” Jackman said at the time. “It’s an honor to be a part of the R.M.Williams family and to wear the brand’s iconic craftsman boot for the campaign.” The global Undeniable Character campaign he stars in is live now on the company’s website.
R.M.Williams currently operates three mainline stores in the U.S., including a Soho outpost in New York.
The company generates most of its sales in Australia, and footwear represents 70% of total sales. L Catterton’s expansion plans for the brand saw it open stores in London, Los Angeles and Copenhagen, Denmark, with several other retailers globally.
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