Bellair Road Investment Partners has officially sold a stake in South African retailer Freedom of Movement (FOM) to VEA Capital Partners.
Freedom of Movement was founded in 2013 by brothers Léan Boezaart and Marcel Boezaart, who were passionate about design and entrepreneurship, with the hope of building a South African-born lifestyle brand.
The company also has a strong working relationship with Springbok captain Siya Kolisi, who is a minority investor in the group.
Growing up in a house with four very social and sports-enthusiastic boys, their parents introduced a rule to maintain order: ‘Freedom of Movement’.
‘Freedom of Movement’ had to be earned through hard work and personal discipline. If one’s academics were on par, they earned ‘Freedom of Movement’ and could make their own decisions.
This laid a foundation for the boys to understand the importance of hard work and discipline.
Having qualified as Civil Engineers and Chartered Accountants, the brothers then moved into the clothing industry.
With seed funding from their brother Marcel, who now works at Bellair Road, the brothers created the FOM brand.
Bellair Road invested in the company in 2019 alongside the founding team, committed to scaling the business and growing an authentic South African brand.
Over the decade, FOM went from a niche leather goods business into a full-suite South African lifestyle and accessories company.
Today, it has a distinct product and brand identity, formidable retail and online presence, and an intensely loyal following.
Since Bellair Road invested in FOM, the brand has grown from 6 stores to 29, with the headcount increasing from 30 to 170.
Revenue and EBITDA also rose dramatically, delivering 46% and 60% CAGR’s, respectively, between 2019 and 2025
In addition to the Zwide Vellie collection, FOM has also worked closely with the Kolisi Foundation.
Despite the business’s success, Bellair Road, Léan and Marcel decided to exit their investments in FOM in 2025.
Léan will also step down as CEO, while Roal will continue to build the brand and will return as an executive director. Kolisi also remains a committed shareholder.
VEA’s plans for the business
VEA Capital Partners has now acquired a stake in FOM, which it said will bring its investment strength and strategic growth capabilities to FOM’s reputation for craftsmanship, product innovation, and substantial brand equity.
It said that this will enable an integrated platform for scaling South African design and manufacturing both locally and globally.
Roal said that partnering with VEA Capital Partners gives FOM the strategic support to unlock the next chapter of its growth.
Kaybee Ntloana, Head of Marketing, said that as the company enters its next chapter, it will accelerate a decade of sustained growth.
“This strategic partnership positions the brand to scale decisively, lead in product innovation, and cement our status as a pioneering force in South African retail,” said Ntloana.
Freedom of Movement Images
