Iconic Australian bootmaker R.M. Williams has been put up for sale, according to the Sydney Morning Herald.

It has been reported the brand, which is backed by a private equity arm of Louis Vuitton, could go under the hammer for as much as $500 million.

According to sources, owner L Catterton Asia has brought in investment bank Goldman Sachs to secure buyers and run an auction.

R.M. Williams operates around 50 retail shopfronts and is stocked in 500 department stores.

The brand was founded in 1932.

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