- Apr 22, 2008
- Reaction score
You are correct, thanks for clarifying that. I just saw L Catterton and LVMH as part of the same team, since they are a joint venture between Catterton and LVMH, hence the "L" in front of Catterton in their moniker. When I heard they had bought RMW, I thought RMW was eventually going to be absorbed into the LVMH "family" of luxury brands. My impression at the time was that the L Catterton joint venture was formed as a sort of acquisition vehicle for LVMH. I haven't followed them, but from what you said their goal was likely just to buy it and flip it for a profit after expanding global sales and juicing up the bottom line. I think the recent buyer paid $190M for it, but I could never find any public information on what L Catterton paid when they bought it.It was actually L Catterton, a private equity firm backed by LVHM, who bought RMW back in 2013. They have a reputation for buying under-valued lifestyle brands in order to flip them for a dime. All the Chelsea boots are still made in the Adelaide workshop. The other styles are made in Europe.
Anyway that's all academic now, since their new investor appears to be in it for the longer haul. I suspect that is a good thing for RMW, its employees, and long term customers.
Interesting that the styles other than the Chelsea boots are made in Europe. Are they new product lines that were introduced under L Catterton's tenure? I've never bought anything other than Chelsea boots from RMW, but I seem to remember seeing other styles like taller cowboy boots in their store some years ago.