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LVMH's Asian arm to invest in Australia's Seafolly
02
Dec '14
The beachwear brand Seafolly will be the latest Australian label to be acquired by the Asian-based arm of the French multinational luxury goods conglomerate LVMH Moët Hennessy Louis Vuitton S.A. (LVMH), L Capital Asia.

According to a press release, the private equity fund company, which has previously invested in popular Aussie clothing labels like RM Williams and 2XU, is set to acquire a controlling interest in the swimwear firm.

With the acquisition deal, the Asian company plans to develop Seafolly as a full lifestyle brand by adding other product categories as well as support global growth across new markets.

Commenting on the new partnership, the CEO of the beachwear label, Anthony Halas, says, “Our partnership with L Capital cements plans for international expansion and the development of Seafolly into a full lifestyle brand. This is a very exciting time for Seafolly as our core focus has been the swim market of which we are the global leader.”

Ravi Thakran, the chairman and managing partner of L Capital Asia also talked about the transaction, “We are excited to partner with the founders to participate in the next phase of Seafolly’s growth. Seafolly invokes Australian summer and beaches in people’s minds across the world, and we expect to take the brand to more people across the globe.”

“Under Anthony’s leadership, Seafolly has grown over time into one of the strongest lifestyle beach brands, and we look forward to partnering towards a new chapter in the brands growth,” he adds.

Known for its innovative designs and fits, Seafolly operates though a network of over 14 exclusive brand stores and some 23 Sunburn multi-brand outlets in Australia, and about 6 Seafolly stores in Singapore and California. The label’s products are sold in leading departmental stores like Myer, Selfridges, Nordstrom and Galeries Lafayette.

The investment in Seafolly will be the 19th investment by L Capital Asia and marked its 4th investment behind an Australian brand. (PB)

Fibre2fashion News Desk - India


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