RM Williams has invested $8 million in a women's-only-production line to expand its sales to women.
👉 Background: RM Williams was founded in 1932 by Reginald Murray Williams. The brand has always been known for its durable outback clothing, particularly its boots. Today, these boots have now become a statement piece for investment bankers and management consultants in the CBD.
👉 What happened: Back in 2020, Nicola and Andrew Twiggy Forrest acquired the company in 2020 for just under $200 million. Now, RM Williams has invested $8 million in a women's-only-production line to expand its sales to women. It currently sells more than 15% of all RM Williams to women.
👉 What else: RM Williams isn't shying away from its exxy prices - it reckons there is a big chunk of the premium market that it can own. Clearly, RM Williams has worked out exactly where it sits in the fashion market.
💡 Brand positioning is the strategic management of how a brand is perceived in the marketplace.
💡For RM Williams, their brand has always emphasised high-quality, durable footwear. And you’ll pay a pretty penny for these shoes — anywhere between $650 - $800 for a pair.
💡But it works for RM Williams, who aligns itself with the anti-fast fashion sentiment ie. reducing the environmental impact of clothing. And this strategy allows RM Williams to maintain its premium pricing.
Sign up for Flux and join 100,000 members of the Flux family
