Adelaide, Australia – In a remarkable turn of events, the historic 73-year-old knitting mill, Silver Fleece, has been saved from closure by Dean and Melanie Flintoft, the dynamic duo behind the fashion label Sunset Lover. The Flintofts secured the mill’s future through a highly successful 48-hour capital-raising campaign, allowing them to acquire the company’s assets and officially take control on Monday, 12 August 2024.
This swift financial maneuver not only ensures the survival of Silver Fleece but also opens the door for new business opportunities and partnerships. The Flintofts plan to integrate their sustainable brand, Sunset Lover, with Silver Fleece’s existing clientele, which includes prestigious organizations such as Cricket Australia and numerous private and public schools across the country.
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“We get the ‘keys’ today and will immediately reassure all existing customers of our renewed operations, well-capitalized status, and continued commitment to excellence,” the Flintofts said. They emphasized their eagerness to bring the mill back to full capacity while expanding their client base.
Silver Fleece, established in 1951, is celebrated for its high-quality, locally made products, with a strong emphasis on sustainability and ethical practices. Under the new ownership, the brand will continue to offer Australian-made yarn and a fully traceable production process, reinforcing its commitment to ethical manufacturing.
“Our ethos is to manufacture exceptional, proudly Australian-made products,” the Flintofts stated.
“With our industry experience and commitment to sustainable fashion, coupled with the overwhelming response to our capital raising campaign, we are confident in revitalizing Silver Fleece and making our investors happy because Australians do care about where their clothing is made.”
The Flintofts also announced that Sunset Lover’s upcoming Resort 2024/25 collection will feature a capsule collaboration with Silver Fleece, marking a significant milestone in their journey towards innovation and excellence.
“This is a dream partnership for Sunset Lover because Silver Fleece 100% aligns with sustainable Australian-made fashion. It will showcase the blend of craftsmanship and sustainability that this knitting mill can produce,” they said. The couple expressed their ambition to bring other Australian companies on board that share their commitment to local manufacturing.
Silver Fleece is one of the few remaining options for Australian-made knitwear, a fact that the Flintofts plan to capitalize on by targeting luxury fashion brands, corporations, government entities, healthcare providers, sporting clubs, and schools.
The mill is equipped with state-of-the-art Shima Seiki Japanese knitting machines, recognized as the best in the industry. The new owners plan to introduce a Shima Seiki Wholegarment knitting machine to further enhance the mill’s capabilities and efficiency.
“The iconic Australian-owned mill that honors the beautiful Australian artisan craft of knitting wool has been preserved,” the Flintofts said, extending their gratitude to supporters, including the CEO of the Australian Fashion Council, Jaana Quaintance-James. “We won’t let you down.”
Silver Fleece, which entered administration last month and faced liquidation following a general meeting on 26 June 2024, will resume business under new management today. The acquisition has also secured the jobs of 20 skilled staff and technicians, primarily women, including younger employees eager to learn and preserve the artisan craft.
“There is so much opportunity to revitalize this mill, and we now have enough capital to reinvigorate local manufacturing, protect Australian craftsmanship, and support the Australian wool industry,” the Flintofts said.
The Flintofts were officially awarded the assets of Silver Fleece on 9 August 2024 by liquidators Daniel Lopresti and Simon Richard Miller, marking a new chapter in the mill’s storied history.
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