Australian retailer R.M. Williams is headed for an overseas expansion after private equity firm L Capital signed off on plans that will see the country-wear business increase its revenue fivefold by 2019.
The Australian Financial Review reports the five-year strategy, due to start in July this year, will see the R.M. Williams hit shop windows in both Asia and Europe, with at least eight new stores expected in Europe from early 2015.
L Capital, a 49.9% stakeholder and backed by luxury goods LVMH Group, hopes to establish the business overseas in a similar league to it’s style stars Louis Vuitton, Christian Dior, Givenchy and Bvlgari.
The equity firm, which bought a $53 million stake from Ken Cowely’s last year, has already seen revenues rise by 4.4% in 2012-2013 to $118.6 million, and profits increase to $3.8 million from $2.55 million a year earlier.
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