R.M. Williams, the bootmaker owned by billionaire Andrew Forrest, has increased prices

The luxury price tag of Australia’s iconic R.M. Williams boots, worn from the bush to the boardroom, has inched a bit higher this week.

The iconic R.M. Williams boot, which was born in the bush but is now a luxury fashion item worn the world over, has just become a little more expensive, with cost pressures nudging their cornerstone range past the $600 mark.

The company, founded by R.M. Williams in the Flinders Ranges 90 years ago this year, and now owned by Australia’s richest man, Andrew “Twiggy Forrest” and wife Nicola, increased prices across most of its range on Monday, citing a number of factors including inflation and raw materials costs.

The core Comfort Craftsman range now sells for $649, and while the company was cagey about what the cost increases were for each line, research done by News Corp Australia indicates that range was selling for $595 last month.

Andrew Forrest on the manufacturing floor last year. Picture: Keryn Stevens

R.M. Williams boots were originally designed to be riding boots, however particularly in recent years, as the company passed through various hands including LVMH which owns brands such as Louis Vuitton and Hennessy, it has increasingly been delving into the luxury brand space.

While the Comfort Craftsman sells for $649, the Signature Craftsman is now priced at $1059, and more esoteric numbers such as a Craftsman made from brown crocodile leather sell online for more than $2000.

The company’s crocodile leather Lady Yearling boot, made only on demand, sells for $4899.

The company’s chief executive Paul Grosmann said in a statement that it was their first extensive price increase in three years.

“Like any business, R.M. Williams reviews pricing periodically and, if necessary, adjusts for exchange rate pressures, the rate of inflation, the rising cost of raw materials such as leather and the cost of manufacturing,’’ he said.

“Following rigorous research and consideration across all areas of the business, this increase was deemed necessary to reflect the rate of inflation, the rising costs of premium raw materials, manufacturing and transportation.

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“It should be noted that we’re employing more Australians than ever and will continue to grow this number as we double-down on our commitment to onshore manufacturing.’’

Mr Grosmann said the company’s boots were all handcrafted in the company’s Salisbury factory, and the commitment to quality was absolute.

“R.M. Williams aims to keep prices fair and accessible, knowing that our iconic boots are not just a purchase, they’re an investment,’’ Mr Grosmann said.

“Every pair of boots is crafted by hand in our Adelaide workshop, just as they always have been, and always will be.

“This process sees each boot travel through over 80 pairs of hands and artisanal processes, resulting in a product that’s hard-wearing and built to stand the test of time, gaining character and personal value with each step, crease and scuff.”

Nicola Forrest told News Corp Australia recently that when the chance came up to buy R.M. Williams from LVMH, “the opportunity to bring it back into Australian hands” was too great to pass up.

The Forrests have committed to investing in building up the local workforce of the company, and growing production.

HOW THE NUMBERS STACK UP

R.M. Williams boots are famously hard-wearing. We’ve calculated that if you wore them twice a week for 20 years, at a cost of $649, they’d set you back you 31c per wear, not including resoling costs.

Originally published as R.M. Williams, the bootmaker owned by billionaire Andrew Forrest, has increased prices