Latest news with #PeterDubens
Telegraph
01-07-2025
- Business
- Telegraph
King's stationery supplier Smythson bought by Cameron ally after years of losses
Smythson, the stationery supplier to the Royal family, has been sold to an investment fund founded by an ally of Lord Cameron following years of losses. The 138-year-old group, which once employed Lord Cameron's wife, Samantha, as creative director, has been acquired by Oakley Capital, a private equity firm founded by entrepreneur Peter Dubens. The sale comes after years of losses during which Smythson was forced to grapple with declining consumer confidence and soaring costs, leading to a string of shop closures. The company holds a Royal warrant to supply stationery and office supplies to the King and Queen having been granted its first warrant by the late Queen in 1964. Its ties to the Royal family date back to the 1890s when the group was commissioned to produce stationery for Queen Victoria and it also held a Royal warrant from the late Queen Elizabeth the Queen Mother. Mr Dubens is a former Tory donor and ally of the former prime minister, who has given tens of thousands of pounds to the Conservatives over the last two decades. Mr Dubens reportedly bid £20,000 for a tennis match with Lord Cameron when he was leader of the opposition, and in 2015 made Lord Cameron an honorary member of Mark's Club, the members' club he co-owns with billionaire restaurateur Richard Caring. Founded in 1887 by Frank Smythson, Smythson started life as a producer of stationery before beginning to make handbags in the 1900s. It has also counted Sir Winston Churchill and Grace Kelly as customers. Mrs Cameron worked for the company for 13 years, starting her career as a window dresser and working her way to become creative director. When Lord Cameron became prime minister in 2010, she moved to become a consultant. Smythson was previously owned by the Italian handbag maker Tivoli, which bought it in 2009 in a deal said to be worth around £18m. Smythson posted a £6.7m pre-tax loss over the year to April 2024, slightly narrowing from a loss of £8m the prior year. However, revenues fell from £32.1m to £28.5m. Luxury struggles In its most recent accounts, the company said: 'Demand in the luxury retail sector remains uncertain, subject to global and local economic conditions resulting from the aftermath of the Covid pandemic, ongoing impact from Ukrainian war and recent increase in interest rates and cost of living.' Britain's luxury brands were also dealt a blow when Rishi Sunak's government decided to axe VAT-free shopping for tourists in 2021. Bosses have argued that the removal of this perk has made London a less attractive location for wealthy travellers to come and shop. Smythson has closed a handful of stores in recent years including its New Bond Street flagship in a bid to streamline the company and make its operations more profitable. Mr Dubens said: 'Heritage brands cannot be created overnight: it can take decades or longer to build a loyal customer base through the application of high-quality craftsmanship, product innovation and marketing excellence. 'We are lucky to be able to welcome Smythson to Oakley.'
Times
01-07-2025
- Business
- Times
Smythson sold to private equity firm Oakley Capital
Smythson, the leather goods maker which holds a royal warrant, has been sold to a private equity company after several years of losses and declining sales. The 138-year-old stationer said it had been bought for an undisclosed sum by Oakley Capital, founded by the financier and chief executive Peter Dubens. The company has been owned by Tivoli Group, one of Italy's largest handbag makers, since 2009. Smythson, which sold its Bond Street store last year as it struggled amid a global luxury slowdown, warned earlier this year that demand in the luxury sector remained 'uncertain' as it posted another decline in annual sales. The upmarket leather goods seller said it continued to suffer following the recent increase in interest rates and cost of living, as well as from the 'aftermath' of the Covid pandemic and the impact from the war in Ukraine.
Mercury
03-06-2025
- Business
- Mercury
Neighbours at war over tech tycoon's ‘iceberg' mega-basement
Locals have launched a furious campaign against an UK tech entrepreneur over his plans to build a mega basement under his mansion. Millionaire investor Peter Dubens wants to erect a whopping 7700 sq ft underground leisure complex with saunas, a bar and a luxury cinema, The Sun reports. The tycoon, who founded Oakley capital in 2002, has infuriated neighbours with the 'iceberg' plans. Mr Dubens submitted a planning application to the local council detailing the two year project. Locals and neighbours quickly objected to the 'vanity project' which would take up nearly 50 per cent of the area under Mr Duben's garden. The renovation would take two years to complete and would also feature a wine cellar, an entertainment space and a golf simulator. MORE: Block star reveals mistake that devalue homes 'Misfit': Neighbours unleash on Meghan 'King's not having it': Charles' wild blow up Dozens of objections against the millionaire's controversial proposal began flooding in soon after the application was made. Neighbours took issue with everything from the traffic management plan to potential flooding risks. Locals said the last time Mr Dubens had work done to his £10 million ($A20.8 million) mansion it took nearly three years to complete. Claims were also lodged that cars, water pipes and sewage pipes were damaged during the previous renovation works. Six ward councillors have written to the council objecting to the massive planning application, saying the basement development would create an 'iceberg' home. An 'iceberg' home is a residence with more square footage below ground than above. Specific legislation was introduced by the borough to control the development of basements and prevent 'iceberg' homes from being built. Ward councillors also said the plans posed an unacceptable flood risk and would harm the character of the conservation area. Additionally councillors raised concerns about overdevelopment and harm to residential amenity, hazardous construction impact and cumulative harm to sustainability, heritage, and quality of life. One local objection to the application reads: 'The current Construction Traffic Management Plan envisages 10 concrete mixers and 10 skip lorries a week (averaging one every two hours, with a forty minute maximum dwell time) for a period of many months. 'In other words, hundreds of vehicles will be needed to drive up a road which is too narrow to take them.' Another local objection said: 'This is nothing more than one man's appalling vanity project. 'Why does one man need so much? He clearly doesn't care one jot about anyone else, nor the area in which he lives.' The planning application was unearthed by news outlet The Chelsea Citizen. 'We make every effort to listen to the concerns of our neighbours,' a spokesperson for Mr Dubens told The Chelsea Citizen. 'In the event that any development work does take place, it will be undertaken with due care and consideration, and in strict accordance with planning regulations.' The application will be considered for approval by the local council this month. A spokesperson for the local council said: 'All planning applications go to consultation so that anyone can provide feedback. 'The consultation on this application is open until Friday 6 June. 'Officers will review the application and all the feedback after the consultation closes, before making a recommendation.' The Sun contacted Peter Dubens' team for comment. Mr Dubens, who's worth £100 million ($A208 million), made millions in colour changing T-shirts before pivoting into investment. He went on to make more money from the sale of Pipex broadband and invested in Time Out magazine. In 2019 the millionaire set up the Peter Dubens Family Foundation to support good causes, mostly in the UK. Parts of this story first appeared in The Sun and was republished with permission. Sign up to the Herald Sun Weekly Real Estate Update. Click here to get the latest Victorian property market news delivered direct to your inbox. MORE: Overlooked VIC suburbs winning in 2025 Melbourne Uni offloads historic mansion $250 a day: Melb market 'on like Donkey Kong'
News.com.au
03-06-2025
- Business
- News.com.au
Neighbours at war over tech tycoon's ‘iceberg' mega-basement
Locals have launched a furious campaign against an UK tech entrepreneur over his plans to build a mega basement under his mansion. Millionaire investor Peter Dubens wants to erect a whopping 7700 sq ft underground leisure complex with saunas, a bar and a luxury cinema, The Sun reports. The tycoon, who founded Oakley capital in 2002, has infuriated neighbours with the 'iceberg' plans. Mr Dubens submitted a planning application to the local council detailing the two year project. Locals and neighbours quickly objected to the 'vanity project' which would take up nearly 50 per cent of the area under Mr Duben's garden. The renovation would take two years to complete and would also feature a wine cellar, an entertainment space and a golf simulator. Dozens of objections against the millionaire's controversial proposal began flooding in soon after the application was made. Neighbours took issue with everything from the traffic management plan to potential flooding risks. Locals said the last time Mr Dubens had work done to his £10 million ($A20.8 million) mansion it took nearly three years to complete. Claims were also lodged that cars, water pipes and sewage pipes were damaged during the previous renovation works. Six ward councillors have written to the council objecting to the massive planning application, saying the basement development would create an 'iceberg' home. An 'iceberg' home is a residence with more square footage below ground than above. Specific legislation was introduced by the borough to control the development of basements and prevent 'iceberg' homes from being built. Ward councillors also said the plans posed an unacceptable flood risk and would harm the character of the conservation area. Additionally councillors raised concerns about overdevelopment and harm to residential amenity, hazardous construction impact and cumulative harm to sustainability, heritage, and quality of life. One local objection to the application reads: 'The current Construction Traffic Management Plan envisages 10 concrete mixers and 10 skip lorries a week (averaging one every two hours, with a forty minute maximum dwell time) for a period of many months. 'In other words, hundreds of vehicles will be needed to drive up a road which is too narrow to take them.' Another local objection said: 'This is nothing more than one man's appalling vanity project. 'Why does one man need so much? He clearly doesn't care one jot about anyone else, nor the area in which he lives.' The planning application was unearthed by news outlet The Chelsea Citizen. 'We make every effort to listen to the concerns of our neighbours,' a spokesperson for Mr Dubens told The Chelsea Citizen. 'In the event that any development work does take place, it will be undertaken with due care and consideration, and in strict accordance with planning regulations.' The application will be considered for approval by the local council this month. A spokesperson for the local council said: 'All planning applications go to consultation so that anyone can provide feedback. 'The consultation on this application is open until Friday 6 June. 'Officers will review the application and all the feedback after the consultation closes, before making a recommendation.' The Sun contacted Peter Dubens' team for comment. Mr Dubens, who's worth £100 million ($A208 million), made millions in colour changing T-shirts before pivoting into investment. He went on to make more money from the sale of Pipex broadband and invested in Time Out magazine. In 2019 the millionaire set up the Peter Dubens Family Foundation to support good causes, mostly in the UK.
Daily Telegraph
03-06-2025
- Business
- Daily Telegraph
Neighbours at war over tech tycoon's ‘iceberg' mega-basement
Locals have launched a furious campaign against an UK tech entrepreneur over his plans to build a mega basement under his mansion. Millionaire investor Peter Dubens wants to erect a whopping 7700 sq ft underground leisure complex with saunas, a bar and a luxury cinema, The Sun reports. The tycoon, who founded Oakley capital in 2002, has infuriated neighbours with the 'iceberg' plans. Mr Dubens submitted a planning application to the local council detailing the two year project. Locals and neighbours quickly objected to the 'vanity project' which would take up nearly 50 per cent of the area under Mr Duben's garden. The renovation would take two years to complete and would also feature a wine cellar, an entertainment space and a golf simulator. MORE: Block star reveals mistake that devalue homes 'Misfit': Neighbours unleash on Meghan 'King's not having it': Charles' wild blow up Dozens of objections against the millionaire's controversial proposal began flooding in soon after the application was made. Neighbours took issue with everything from the traffic management plan to potential flooding risks. Locals said the last time Mr Dubens had work done to his £10 million ($A20.8 million) mansion it took nearly three years to complete. Claims were also lodged that cars, water pipes and sewage pipes were damaged during the previous renovation works. Six ward councillors have written to the council objecting to the massive planning application, saying the basement development would create an 'iceberg' home. An 'iceberg' home is a residence with more square footage below ground than above. Specific legislation was introduced by the borough to control the development of basements and prevent 'iceberg' homes from being built. Ward councillors also said the plans posed an unacceptable flood risk and would harm the character of the conservation area. Additionally councillors raised concerns about overdevelopment and harm to residential amenity, hazardous construction impact and cumulative harm to sustainability, heritage, and quality of life. One local objection to the application reads: 'The current Construction Traffic Management Plan envisages 10 concrete mixers and 10 skip lorries a week (averaging one every two hours, with a forty minute maximum dwell time) for a period of many months. 'In other words, hundreds of vehicles will be needed to drive up a road which is too narrow to take them.' Another local objection said: 'This is nothing more than one man's appalling vanity project. 'Why does one man need so much? He clearly doesn't care one jot about anyone else, nor the area in which he lives.' The planning application was unearthed by news outlet The Chelsea Citizen. 'We make every effort to listen to the concerns of our neighbours,' a spokesperson for Mr Dubens told The Chelsea Citizen. 'In the event that any development work does take place, it will be undertaken with due care and consideration, and in strict accordance with planning regulations.' The application will be considered for approval by the local council this month. A spokesperson for the local council said: 'All planning applications go to consultation so that anyone can provide feedback. 'The consultation on this application is open until Friday 6 June. 'Officers will review the application and all the feedback after the consultation closes, before making a recommendation.' The Sun contacted Peter Dubens' team for comment. Mr Dubens, who's worth £100 million ($A208 million), made millions in colour changing T-shirts before pivoting into investment. He went on to make more money from the sale of Pipex broadband and invested in Time Out magazine. In 2019 the millionaire set up the Peter Dubens Family Foundation to support good causes, mostly in the UK. Parts of this story first appeared in The Sun and was republished with permission. Sign up to the Herald Sun Weekly Real Estate Update. Click here to get the latest Victorian property market news delivered direct to your inbox. MORE: Overlooked VIC suburbs winning in 2025 Melbourne Uni offloads historic mansion $250 a day: Melb market 'on like Donkey Kong'
