×
321
Fashion Jobs
ON TIME SOLUTIONS
Mnc Plastic Industry is Hiring Production Manager (Plastic)
Permanent · Bengaluru
HALONIX TECHNOLOGIES
Area Sales Manager/Territory Manager - Institutional Sales
Permanent · Dehradun
GOKALDAS EXPORTS
Manager - Warehouse (Apparel / Garment Background)
Permanent · Bengaluru
ADIDAS
Director - Finance fp&a Fsf
Permanent · CHENNAI
ADIDAS
Manager Digital Analytics - Product
Permanent · GURUGRAM
ADIDAS
Senior Technology Consultant
Permanent · GURUGRAM
RJCUBE STAFFING SOLUTIONS
Production Manager - Upholstery (Leather & Fabrics) For Greater Noida
Permanent · Greater Noida
RJCUBE STAFFING SOLUTIONS
qa/qc- Garments-Woven/Knits For Garments Buying House, Noida
Permanent · Noida
NIKE
Information Security Risk Analyst (Grc) – Cis
Permanent · Bengaluru
RJCUBE STAFFING SOLUTIONS
qa/qc- Garments (Jersey, Etc) For Garments Buying House, Noida
Permanent · Noida
ZEN TECHNO ENGINEERING PVT LTD.
Production Manager
Permanent · Pune
ADIDAS
Manager Buying & Planning Operations
Permanent · GURUGRAM
ADIDAS
Product Owner Data Foundations
Permanent · GURUGRAM
ADIDAS
Senior Product Owner
Permanent · GURUGRAM
ADIDAS
Product Owner
Permanent · GURUGRAM
CROCS
Associate Demand Planner
Permanent ·
CROCS
HR Manager
Permanent ·
BRIDGING TALENTS
Quality Control Manager ii Retail Fashion Brand ii Jaipur / Bangalore
Permanent · Bengaluru
ALLEGIS GROUP
Opening For Sales Manager - Chennai & Kolkata
Permanent · Chennai
IDFC FIRST BANK
Opening For Area Sales Manager - Corporate Salary Mumbai
Permanent · Mumbai
TATA AUTOCOMP
Opening For Production Head at Chinchwad Plant
Permanent · Pune
THE BANYAN HR CONSULTS
Regional Sales Manager For Women's Wear Garments CO For Delhi & Ncr
Permanent · National Capital Region
By
Reuters API
Published
Oct 19, 2020
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

LVMH offloads R.M. Williams to Australian mining billionaire Forrest

By
Reuters API
Published
Oct 19, 2020

Australian mining billionaire Andrew Forrest said his private company bought bootmaker R.M. Williams from French fashion giant LVMH Moet Hennessy Louis Vuitton SE, returning ownership of the famed fashion label to its home country after six years.


Forrest did not disclose a price but the Australian Financial Review reported it was about A$190 million - R.M. Williams


In a statement, the Fortescue Metals Group Ltd founder and major shareholder said he was "incredibly proud and humbled" to bring back the manufacturing icon which had "a long and proud history of high-quality Australian craftsmanship".

Forrest did not disclose a price but the Australian Financial Review reported it was about A$190 million (104.2 million pounds). That would represent a mark-down from the roughly A$500 million that local media reported was R.M. Williams's valuation when LVMH, via its investment arm L Catterton, put the asset up for sale in 2019.

When L Catterton took over R.M. Williams in 2014, the Outback-themed company was valued at about A$104 million. The unit of the French fashion giant was not immediately available for comment on Monday.

Fashion retailers around the world have experienced a sharp decline in sales since the Covid-19 outbreak prompted border closures and stay-home orders as governments attempted to slow the spread of the virus.

For 88-year-old R.M. Williams, which has 900 staff in Australia, that meant temporarily closing its Adelaide factory. It has since reopened most of its 68 retail outlets which are largely on the country's east coast.

Australian swimsuit maker Seafolly Pty Ltd, also backed by LVMH, appointed administrators in June, citing a sales downturn from the coronavirus.

© Thomson Reuters 2023 All rights reserved.