Smythson of Bond Street acquired by Oakley Capital
Smythson of Bond Street has been acquired by the Oakley Capital private equity firm.
The news means that the luxury leather goods and stationery brand will join Iconic BrandCo, Oakley’s vehicle for luxury, heritage brands, which includes complementary brands such as Alessi, Globe-Trotter, Connolly, Fornasetti and Fabbrica Pelletterie Milano.
The investment marks new chapter in Smythson’s 137-year history as it looks ahead to accelerating growth and expanding its brand presence under the new ownership.
In a statement, Smythson said it will benefit from Oakley’s value-creation strategies and expertise in accelerating international expansion, digitising operations, enhancing brand positioning and digital marketing. Growth will be particularly focused on the US, Japan and Europe, although the company will continue to work to strengthen its position in its UK home market.
The brand will adopt a multichannel approach to drive growth, expand global distribution, develop international franchise agreements, and launch innovative brand activations and collaborations.
Smythson chief executive Paolo Porta said: “We look forward to working closely with Oakley’s Iconic Brands Group to realise the full potential of Smythson as an exceptional British brand.
“We will leverage Oakley’s expertise in international expansion and brand positioning, whilst continuing to honour the legacy of this beloved heritage brand.
“All of us at Smythson would like to extend our thanks and admiration to Jacques Bahbout and the Tivoli Group for their leadership and support in recent years, and for enabling us to reinforce Smythson’s foundations. We look forward to continuing our longstanding production partnership with Tivoli Group across our leather business.”
Oakley Capital co-founder and chief executive Peter Dubens, added: “Heritage brands cannot be created overnight: it can take decades or longer to build a loyal customer base through the application of high-quality craftsmanship, product innovation and marketing excellence. We are lucky to be able to welcome Smythson to Oakley.”
