Article courtesy of Ragtrader.
The Propel Group has agreed to sell the Rossi boots business to S. Kidman and Co – a beef production company chaired by mining magnate Gina Rinehart.
It is the second brand sale this month by the Propel Group to S. Kidman and Co, after offloading its apparel brand Driza-bone.
“Rossi boots has been wholly Australian-owned since 1910 and, together with our partners, it has been an honour to grow and develop this iconic Australian brand’s legacy of craftsmanship that is etched into the history of our country,” Propel Group chief executive Caroline Elliott said.
“S. Kidman and Co is committed to preserving and expanding the Rossi brand into new markets and we are excited that this will continue under Australian ownership and investment.”
The Propel Group added it plans to further invest in the growth of its Australian rural outfitting retailer RB Sellars, including the continued rollout of more stores across Australia and New Zealand.
Rossi boots will continue to be stocked by RB Sellars stores nationally, as will Driza-Bone.
