L Capital Asia invests in Seafolly
Seafolly is taking on a new dimension. The Australian swimwear and beachwear brand is carrying out its ambition with the investment of L Capital Asia, one of the private equity firms sponsored by the LVMH group. Announced on December 2, the majority stake means a new era for a company that has continued to belong to the same family since its founding in 1975.
Anthony Halas, son of the founding couple and previously head of Seafolly, said that he and his family still retain more than 20% of shares. The transaction amounted to nearly 100 million Australian dollars, or about 84 million US dollars.
Distributed in 42 countries via its wholesale channel, and with monobrand boutiques in Australia and the United States, Seafolly generates an annual turnover of 100 million US dollars. With the investment of L Capital Asia, the brand intends to turn itself into a beach lifestyle brand, while deepening its existing swimwear, ready-to-wear and accessories ranges, and introducing new product categories.
The Australian brand also naturally aims to develop its distribution network, relying on the regional expertise of its new investor to expand into Asia. An IPO may also be on the table, according to Anthony Halas.
1 USD = 0.638849 GBP
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