Oliver Sweeney rescued
Amery Capital and footwear supply guru Tim Cooper have bought premium footwear brand Oliver Sweeney out of administration.
Amery Capital, the fund set up by former Marks & Spencer director Maurice Helfgott and backed by Oasis-founders the Bennett brothers, have joined forces with Tim Cooper, the co-founder of footwear supplier OPS, to acquire Oliver Sweeney from administrators PricewaterhouseCoopers, via a newly-formed company McFL Trading.
“We have great confidence in this venture, in no small part due to our partnership with Tim Cooper, who has over 25 years experience in footwear to complement our experience in fashion retail and brands.”
Michael Bennett, backer, Amery Capital
Oliver Sweeney’s London stores in Bond Street and the City plus its store in the Victoria Quarter in Leeds will continue to trade. Its website and its concessions in Harvey Nichols are also unaffected.
Sweeney himself, who set up the label 19 years ago, will continue to design the collection.
Oliver Sweeney had sales of £6 million in 2008.
Tim Cooper, who has worked in the footwear industry for since 1982, said: “From a 75 year family tradition of boot and shoemakers, I have always admired Oliver Sweeney – a leader not a follower. He designs classics with a unique and original British twist, and we are determined to cherish and evolve the brand’s successful heritage.”
Amery Capital director Maurice Helfgott added: “I have been an admirer of Oliver’s shoes for almost 20 years and am very pleased to be able to invest behind the brand to ensure the success it deserves in the UK and around the world.”
Michael Bennett said: “We have great confidence in this venture, in no small part due to our partnership with Tim Cooper, who has over 25 years experience in footwear to complement our experience in fashion retail and brands.”