Private equity firm Oakley Capital has acquired British luxury brand Smythson through its heritage-focused investment platform, Iconic BrandCo.
Founded in 1887, Smythson is renowned for its leathergoods and stationery, with a legacy that includes crafting pieces for former UK Prime Minister Winston Churchill and the British Royal Family.
Today, Smythson is one of only seven brands worldwide to hold two royal warrants. The company sells its products through seven stores and concessions across the UK, France and Japan, and globally via ecommerce channels.
Its acquisition diversifies Oakley’s Iconic BrandCo platform, which currently comprises heritage brands Italian homeware business Alessi; British luggage maker Globe-Trotter; and British leathergoods and apparel brand Connolly.
Additionally, Oakley has recently added Milan-based home décor house Fornasetti and family-owned luxury luggage brand FPM to its portfolio.
Oakley aims to grow the sales and value of Smythson by accelerating its international expansion, digitising operations and enhancing brand positioning through digital marketing strategies.
The newly acquired company will also benefit from central resources, as Iconic BrandCo recruits additional talent in marketing, AI & data, finance and real estate.
A broader heritage brand portfolio also enables operational synergies, including shared manufacturing relationships, and increased purchasing power in both goods and media.
Oakley Capital Co-Founder & CEO Peter Dubens said, “Heritage brands cannot be created overnight: it can take decades or longer to build a reputation and a loyal customer base through the application of high-quality craftsmanship, product innovation and marketing excellence.
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Take a virtual walk through the Smythson store in London Heathrow Airport Terminal 4
“We are lucky to be able to welcome Smythson to Oakley and to have the opportunity to assist them in unlocking the significant value within.”
Oakley Capital Operating Partner Vicente Castellano added, “The addition of Smythson to Oakley’s Iconic BrandCo marks a real milestone in our ambition to develop a collection of truly unique brands.
“By leveraging our expertise and investment in human talent, ecommerce and internationalisation, we see strong potential to develop Smythson into a global lifestyle business.” ✈
