Oakley Capital acquires Smythson of Bond Street
The acquisition would support the private equity firm’s strategy to build a diversified group of luxury labels
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Oakley Capital has officially acquired Smythson of Bond Street, Fornasetti and Fabbrica Pelleterie Milano (FPM) for an undisclosed amount through its investment vehicle Iconic BrandCo, expanding its portfolio of luxury heritage brands.
The three brands join existing holdings Alessi, Globe-Trotter and Connolly in Iconic BrandCo, which was launched in 2020 under Oakley Capital Fund III to invest in and grow high-end lifestyle businesses.
Founded in 1887, Smythson is a British manufacturer of leather goods and stationery. It holds two royal warrants and operates seven stores and concessions across the UK, France and Japan, alongside a global ecommerce platform.
According to Oakley Capital, the acquisitions would support its strategy to build a diversified group of luxury labels. It plans to grow the new additions by expanding international sales, investing in digital operations and strengthening brand positioning.
The brands will also benefit from centralised support in marketing, artificial intelligence, finance and real estate. Oakley aims to generate operational synergies through shared manufacturing and bulk purchasing.
Peter Dubens, co-founder and chief executive of Oakley Capital, 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.
“We are lucky to be able to welcome three such prestigious brands to Oakley and to have the opportunity to assist them in unlocking the significant value within each.”
Vicente Castellano, operating partner at Oakley Capital, added: “The addition of Smythson, Fornasetti and FPM 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 them into global lifestyle businesses.”
