default-output-block.skip-main
BoF Logo

The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.

Smythson Said to Attract Private Equity Interest for 2015 Sale

Frank Smythson Ltd., the closely held luxury leather goods group that employs the U.K. Prime Minister’s wife as a consultant, has drawn interest from private-equity firms about a possible sale.
Smythson stationery | Source: Smythson
By
  • Bloomberg

LONDON, United Kingdom  Frank Smythson Ltd., the closely held luxury leather goods group that employs the U.K. Prime Minister's wife as a consultant, has drawn interest from private-equity firms about a possible sale, said three people with knowledge of the matter.

Tivoli Group, owner of the London-based company since 2009, has held preliminary discussions with private-equity firms about a sale of all or a minority stake in the unit next year, said the people, who asked not to be identified because they weren’t authorized to speak publicly. Smythson could fetch as much as 150 million pounds ($234 million), two of the people said.

Smythson, which is more than 125 years old, is the latest luxury goods company to attract private-equity interest, following the 210 million-euro ($262 million) investment by Blackstone Group LP in Gianni Versace SpA in February. In August, Permira Advisers LLP approached Roberto Cavalli SpA about the acquisition of a stake in the Italian fashion house, two people with knowledge of the matter said at the time.

Smythson has traditionally been known as a maker of stationery, and in recent years expanded into other products including handbags and wallets. Large washbags are priced at 465 pounds, while a crocodile skin writing folder is available for 4,500 pounds, according to its website. Samantha Cameron, the wife of Prime Minister David Cameron, is a consultant to the company, having been creative director until May 2010.

A spokesman for Smythson didn’t respond to an e-mailed request for comment and an official for Tivoli declined to comment.

By Kiel Porter; editors: Edward Evans, Jon Menon, Steve Bailey.

© 2021 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions

The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.
CONNECT WITH US ON
© 2022 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions and Privacy policy.