In 1989, brothers Matt and Mark Cloros received a modest but pivotal loan in a brown paper bag from a family friend, enabling them to launch Redback Boots—a business that would grow into one of Australia’s leading boot manufacturers. The family friend, who had accumulated wealth in the garment industry, encouraged the brothers to pursue their business with the simple directive to give it their best effort. Though the initial year saw losses, the Cloros brothers persevered and eventually offered shares to their benefactor, who declined but later regretted the decision.

Redback Boots now produces approximately 700,000 pairs annually from its Australian factory and maintains a longstanding contract to supply footwear to the Australian Defence Force (ADF), a partnership that began in the early 1990s. In 2025, the company reported revenue of $54.4 million and a profit of $8.3 million. Later that year, Redback entered a significant partnership with Ares Management, a global private equity firm marking its first investment in Australia. The deal positions Redback alongside iconic Australian brands such as R.M. Williams, Akubra, and Driza-Bone, and sets ambitious goals to double production to two million pairs within three years while expanding its product range and pursuing global brand recognition.

Bootmaking is deeply ingrained in the Cloros family history, spanning four generations. The craft originated with Matt’s great-grandfather, who emigrated from Castellorizo, a small Greek island near Turkey, before the family relocated to Australia. The family’s early ventures included selling handmade boots during the Great Depression and establishing the Victor Boot Company in 1930. In the 1970s, Matt’s father, George, founded the Viscount footwear brand and emphasized Australian manufacturing over offshore production—an ethos upheld by Matt and Mark when launching Redback.

Amid global shifts toward cheaper manufacturing overseas, the Cloros family elected to invest in advanced technology, acquiring robotic machinery from German suppliers to maintain competitiveness while keeping production local. Matt Cloros emphasized the strategic advantage of sourcing raw materials from Australia and New Zealand and producing domestically to control quality and support the supply chain, drawing a parallel to New Balance’s approach in the United States.

The decision to partner with Ares was carefully considered. Mark had already exited the business, and Matt remained the primary family member managing operations. With the involvement of Ares partner Nick Onie, Cloros found a partner aligned with Redback’s values. Unlike typical private equity models, Ares has been supportive, providing resources to professionalize the business through enhanced sales, marketing, finance, and manufacturing functions. Doug Swan, appointed as chief executive, brings experience from Wesfarmers and Yakka workwear and envisions Redback as a globally recognized brand known for quality and Australian manufacturing.

Redback’s steady ADF contract accounts for around 10 percent of revenue and provides a solid foundation for expansion, with particular enthusiasm for growth in the United States market. Despite Redback’s commercial success, Matt Cloros remains grounded, citing family losses—including the deaths of his mother, who played a vital role in the early business, and more recently, his daughter’s fiancé, Isaac, who died suddenly of a heart attack. These personal tragedies have shaped his outlook on life and business.

Cloros stresses the importance of balancing professional aspirations with family and personal fulfillment. He reflects, “You have to enjoy and appreciate every day,” underscoring that despite the pressures of leading a successful manufacturing brand, time with loved ones remains paramount. As Redback embarks on this new chapter with international investment and a professional management team, its founder remains committed to preserving the family legacy of quality Australian bootmaking.