Gina Rinehart Snaps Up Iconic Aussie Brand Rossi Boots

Gina Rinehart, Australia's renowned business magnate, has made a significant move in the country's workwear fashion industry by acquiring Rossi Boots. This strategic acquisition places her in direct competition with fellow billionaire Andrew Forrest in the workwear sector. Rossi Boots, known for its Kidman trademarks, resonates with Mrs. Rinehart's ownership of the S. Kidman & Co cattle empire, presenting a unique synergy.

Transaction Snapshot

  • Deal Value: N/A
  • Deal Type: Acquisition
  • Seller: Propel Group
  • Buyer: S. Kidman & Co

Mrs. Rinehart's latest acquisition includes both Rossi Boots and Driza-Bone, expanding her portfolio in the fashion sector. Rossi Boots has a rich history, dating back to its founding in 1910 by Arthur Rossiter. The brand's significance in Australian history is marked by its role in supplying boots to soldiers in both World Wars. This historical value aligns well with Mrs. Rinehart's interest in preserving and promoting national heritage through her business ventures.

The acquisition by Mrs. Rinehart's S. Kidman & Co, which has partial Chinese ownership through Shanghai CRED, signals a potential revival and expansion of Rossi Boots. The company, which had to shift manufacturing to Indonesia and India due to struggles, may see a resurgence under new ownership. Adam Giles, former Northern Territory chief minister and current leader of S. Kidman & Co, hints at possible plans to bring Rossi manufacturing back to Australia. This move would align with Mrs. Rinehart's vision of fostering Australian craftsmanship and supporting the local economy.

However, any venture into the apparel sector remains speculative and challenging. R.M. Williams, owned by the Forrest family, stands as a formidable competitor, having undergone significant revival and expansion under their ownership. The contrast in the current market presence between R.M. Williams and potential new entrants from S. Kidman & Co is stark.

Further insights into the deal's specifics, such as the acquisition price and the strategic plans for Rossi Boots, remain undisclosed. The deal's impact on the Australian fashion and workwear industry, and the unfolding rivalry between two of Australia's wealthiest individuals in this sector, will be closely watched.

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