Oroton has revealed the structure of its business moving forward, following a successful buy-out.
An entity controlled by Will Vicars has today completed the acquisition of OrotonGroup.
Sophie Holt has been appointed as creative director of Oroton in a full time capacity, effective immediately.
The acquisition by Vicars ensures a future for the brand by providing ongoing roles for over 500 Australian retail and support staff.
Oroton will also continue relationships with key suppliers, landlords and other stakeholders.
A spokesperson for Vicars said this is a pivotal moment for the brand as it celebrates its 80th anniversary this year.
"Australians have a deep emotional connection to Oroton and we will invest in this brand to ensure it remains as one of Australia’s most iconic and desired luxury fashion brands.
"We will nourish the business through investment in talent, design and omnichannel capability whilst streamlining operations to make it more agile and innovative as it becomes a single brand entity for the first time in 40 years."
Holt is an executive with significant retail experience, most recently serving 13 years as creative director and MD of Country Road.
As creative director she will have total creative responsibility and autonomy for all of Oroton collections and brand image.
"Oroton is an iconic brand that has always stood for quality and everyday luxury. I’m excited for the opportunity to create a new contemporary perspective that will write a new chapter in Oroton’s history," she said.
Oroton CEO Ross Lane said this is a new chapter for the brand.
“I am very pleased to have Sophie Holt take the creative helm to direct a new contemporary vision for the brand. Oroton has a tremendous opportunity to play a more meaningful and innovative role in the fashion industry. Under the new ownership structure, our resources are totally focused on repositioning our iconic Oroton brand as a major player in the fashion accessory market. I look forward to leading the business through its next stage of growth.”
Lane will continue as Oroton CEO under the new ownership structure. Lane will also continue as a director on the Oroton board and be joined by Vicars, Holt and Matthew Moses, who will assume the role of non-executive chairman.
John Schmoll and Maria Martin will leave the Oroton board.