Propel Group has agreed to sell its footwear business Rossi Boots to Australian mining magnate Gina Rinehart’s S Kidman and Co.
The group plans to use the proceeds to further invest in its Australian rural outfitting brand RB Sellars, with more stores expected to open across Australia and New Zealand.
“Rossi boots has been wholly Australian-owned since 1910 and, together with our partners, it has been an honour to grow & develop this iconic Australian brand’s legacy of craftsmanship that is etched into the history of our country,” said Propel Group CEO Caroline Elliott.
“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.”
Propel Group announced earlier this month it was selling the 125-year-old water-resistant coat and apparel brand Driza-Bone to S Kidman and Co for an undisclosed sum.
Family-owned Propel Group is an Australian entity inspired by the landscape with community at its core. It acquired Driza-Bone in 2017 and Rossi Boots in 2020.
Aside from RB Sellars, which was founded in 1996, other brands of Propel Group now include Goodwoods and NatEquest.
Rossi boots will continue to be stocked by RB Sellars stores nationally following the sale of the label.