An iconic Aussie brand has lifted the price of its cornerstone range after “rigorous research and consideration”.
An iconic Australian brand has announced it is increasing the price of one of its most popular products.
RM Williams, owned by West Australian billionaires and philanthropists Andrew and Nicola Forrest, said in a statement that cost pressures were to blame for the increase, which will push the price of their cornerstone Comfort Craftsman boots to $649, The Australian reported on Wednesday.
The company, founded 90 years ago by RM Williams in the Flinders Ranges, was bought by Mr Forrest in 2020 after being previously owned by LVMH, owners of Louis Vuitton.
Chief executive Paul Grossman said the company was exposed to the same pressures as the rest of the economy.
“Like any company, RM Williams reviews pricing periodically and, if necessary, adjusts for exchange rate pressures, the rate of inflation, the rising costs of premium raw materials, manufacturing and transportation,” Mr Grossman was reported as saying in The Australian.
He said the decision was made following “rigorous research and consideration” across the business and was informed predominantly by rising inflation and the growing cost of raw materials, transportation and manufacturing.
“It should be noted that we’re employing more Australians than ever and will continue to grow this commitment as we double-down on our commitment to onshore manufacturing,” Mr Grossman said.
He said all boots continued to be handmade in the company’s Salisbury factory in WA
“Every pair of boots is handcrafted in our Adelaide workshop, just as they always have been and just as they always will be,” Mr Grossman said
Originally published as RM Williams boots: brand owned by Andrew and Nicola Forrest lifts prices on boots
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