Silver lining hope in Silver Fleece collapse
Adelaide investors are racing to raise $1 million to rescue a failed local knitting mill which made jumpers for the Australian cricket team, with the aim of growing it into a national brand.
Hindmarsh firm Silver Fleece, which made the Australian cricket team’s woollen vests and pullovers for more than 40 years, went into liquidation last month.
The news prompted Adelaide-based Sunset Lover founders Melanie and Dean Flintoft to try and save the 73-year-old brand, by aiming to raise $1 million by July 30.
“That’s just the figure that will make us comfortable that we can get it off the liquidator and recapitalise it sufficiently,” Dean told InDaily.
“We’re getting pretty close. We’d be at over half a million so far from investors, so we probably just need two more investors really.
“Just a couple of people putting in a couple of hundred (thousand dollars) – we just need to get probably two, three, over the line in the next 24 hours.”
Dean and Melanie Flintoft founded Australian resort wear brand Sunset Lover in 2021, and have launched seven fashion brands in the last 25 years.
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“We’ve been successful with knitwear in our previous business, and we know the potential,” Melanie said.
Sunset Lover founders Melanie and Dean Flintoft see “huge potential” in Silver Fleece. Photo: supplied
“We really loved South Australian manufacturing, we started the business [Sunset Lover] with South Australian manufacturing, so we know what we’re going into.
“We’ve had that experience and we understand the landscape.”
Dean said the pair planned to recapitalise Silver Fleece, making it “a bit more efficient”.
“[It’s] only selling to 77 schools, we want to sell to, I mean there’s 10,000 in Australia,” he said.
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“And 3000 private schools,” Melanie said.
“They should all be thinking about manufacturing in Australia and teaching the students how important it is to support local and support farmers.
“And more corporates. Qantas should be manufacturing with us, they should be making Australian-made. There should be people wearing Australian-made uniforms. That just should be what they’re looking for.”
The pair said they saw “huge potential” in Silver Fleece.
“The capabilities of the machines, they’re probably only using five per cent of what they’re actually capable of doing,” Melanie said.
“There hasn’t been an Australian knit brand, you know, like a Ralph Lauren of the US. There isn’t something like that for Australia, and there should be.
“Rugby tops and cricket knits are in everybody’s wardrobe, from tiny to when they’re really old. If you go to a coffee shop, someone will be wearing a rugby top for sure. It’s a staple Australian household wardrobe uniform.”
The Australian Fashion Council backs the move, with CEO Jaana Quaintance-James saying an investment in Silver Fleece represented a commitment to Australian manufacturing.
“Supporting this heritage knitting mill not only fortifies the use of high-quality Australian wool yarn but also uplifts our local farmers, preserves the skills of our artisans, and can help reduce environmental impact,” she said.
“Silver Fleece is a testament to the excellence and resilience of Australian craftsmanship.”
