Australia’s richest individuals Gina Rinehart and Andrew "Twiggy" Forrest, known for their longstanding rivalry, have entered the competitive footwear market with contrasting approaches to heritage brands and pricing strategies.
In 2020, Forrest acquired iconic Australian bootmaker RM Williams, emphasizing the return of the legendary brand to Australian ownership. RM Williams boots, often priced around $800, are marketed as durable, investment-quality products designed to last generations. The company has invested in Australian manufacturing and skills development, creating over 350 jobs since the acquisition, with production centered in Adelaide.
Conversely, Rinehart’s agricultural enterprise, S.Kidman and Co, expanded into the boot sector by acquiring Arida-Bone and Rossi Boots, brands with deep historical connections to Australian military footwear from World War I. In 2023, the company introduced Kidman Boots, priced at approximately $400, roughly half the cost of RM Williams footwear. While Kidman Boots are designed and developed in Australia, manufacturing is outsourced overseas to maintain lower price points amid increasing living costs for Australian consumers.
Adam Giles, CEO of Kidman Boots, highlighted the market gap created by RM Williams’ premium pricing, noting that many Australians cannot afford such high prices given recent rises in electricity and grocery expenses. He indicated that while Kidman Boots maintains quality, the brand offers a more accessible option during a cost-of-living crisis.
Behind the commercial rivalry lie deeper tensions between Rinehart and Forrest, who have clashed over various issues including mining rights in Western Australia’s Pilbara region and political stances. Forrest has publicly supported net-zero emissions targets, while Rinehart aligns more closely with conservative policies, including advocating for expanded fossil fuel extraction.
Their rivalry has also extended to business disputes and public criticism. In 2013, Forrest intervened in a legal battle involving Rinehart’s family trust, supporting her son in court. More recently, at the 2024 News Corp Bush Summit, Rinehart criticized hydrogen energy projects associated with Forrest’s business ventures, condemning the use of taxpayer funds to support what she described as “unproven” technologies. Forrest’s attempt to develop a green hydrogen plant in Queensland incurred approximately $80 million in public investment, with the state government currently pursuing legal action to recover a $66 million subsidy.
Despite the rivalry, both RM Williams and Kidman Boots operate within Australia’s substantial high-end boot market, valued at over $500 million annually, suggesting there is space for both brands to coexist. RM Williams emphasizes Australian manufacturing and craftsmanship heritage, while Kidman Boots focuses on affordability and plans to integrate locally sourced leather from their own cattle operations into future products.
The competition between two of Australia’s wealthiest entrepreneurs underscores contrasting business strategies combined with personal and political differences, playing out across a storied Australian cultural landscape of iconic footwear.