Aston's saviour Strolls in

HOW A CANADIAN FASHION TYCOON SAVED A BRITISH AUTOMOTIVE ICON

- CAMERON KIRBY

AT 105 YEARS old, Aston Martin has just received one of the largest cash injections in its history, saving the iconic manufacturer from financial disaster following a torrid couple of years.

When the British brand was floated on the London Stock Exchange in 2018, it was to much fanfare and optimism. What followed was a cascade of woe, resulting in the company’s value dropping by as much as 80 percent.

Aston Martin was in a death spiral, and needed saving, desperately.

A potential lifeline in the near bottomless pockets of Chinese giant Geely soured, leaving the Brits high and dry with a new platform and a new factory to pay for.

Enter Lawrence Stroll, who leads a consortium of investors that has now plunged A$962 million into the brand to stave off an ignominious end. The investment is double the GDP of Tonga in 2019.

Stroll personally has splashed out A$355 million for a 16.7 percent stake in the luxury car builder, potentially rising to a 20 percent stake once the fundraising is complete. He has also become the executive chairman of the board. Andy Palmer, meanwhile, retains his position as CEO.

This all begs the question of how a Canadian fashion tycoon ended up being the saviour of Aston Martin, and what it means for the future.