Your browser is no longer supported. For the best experience of this website, please upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We'll assume we have your consent to use cookies, for example so you won't need to log in each time you visit our site.
Learn more

Smythson sold for £18m

Smythson, the luxury leather goods firm, has been sold for £18m.

The retailer, which trades from 15 stores including one in New York and another in Beverly Hills, has been bought by Greenwill, the holding company for Tivoli Group, an Italian leather goods manufacturer.

The Smythson management team, including Samantha Cameron the wife of Conservative party leader David Cameron, are in line to share 1.5% of the £18m as part of a long-term incentive plan, according to The Financial Times.

Paddy Byng, chief executive of Smythson, said: “Over the last 4 years we have expanded the product portfolio, opened new stores, grown new sales channels and strengthened the management team. We are now delighted to be entering the next stage in our development with the support of Tivoli Group and are excited about the future growth of the business.”

The company, whose first store was opened by founder Frank Smythson on New Bond Street in 1887, was bought by Kelso Place Asset Management and Venrex Investment Management in 2005 for £16m.

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.