Iconic BrandCo, an affiliate of mid-market private equity investor Oakley Capital, is investing in premium lifestyle brands Smythson of Bond Street, Fornasetti, and Fabbrica Pelletterie Milano (FPM), complementing its existing investments.
Established in 2020, Iconic BrandCo is an Oakley Capital Fund III vehicle, investing in and creating value in luxury, heritage brands.
Founded in London in 1887, Smythson specialises in high-quality leather goods and stationery with a rich heritage that includes producing stationery for Winston Churchill and members of the British Royal family. Today, Smythson is one of only seven brands worldwide to hold two royal warrants. The company sells its products through seven stores and concessions across the UK, France and Japan, and globally via ecommerce channels.
Fornasetti, founded in 1940 and headquartered in Milan, is an iconic luxury design atelier renowned for its eclectic, handcrafted home décor items sold via multiple channels including wholesale, retail and online, as well as via distributors in Italy and abroad.
FPM is a family-owned, luxury Italian luggage maker that was established in Milan in 1956. The company sells its products through distributors as well as through collaborations with leading luxury brands.
These acquisitions are intended to diversify Oakley’s Iconic BrandCo platform, which currently comprises heritage brands Alessi, a high-end Italian design business focused on homeware products, Globe-Trotter, a premium, British luggage maker, and Connolly, a luxury British brand known for its high-end leather goods and apparel.
The firm aims to significantly grow the sales and value of Smythson, Fornasetti, and FPM by accelerating their international expansion, digitising operations, and enhancing their brand positioning and digital marketing – strategies it is already applying to Globe-Trotter, Alessi, and Connolly.
The newly acquired companies will receive enhanced, central resources, as Iconic BrandCo recruits additional talent in marketing, AI & data, finance, and real estate. A broader heritage brand portfolio will also enable operational synergies, including shared manufacturing relationships, and increased purchasing power in both goods and media.
