L Capital Asia, the Asian private equity fund of luxury brands group LVMH, has taken a controlling interest in Australian swimwear brand Seafolly for an undisclosed amount.
“Our partnership with L Capital cements plans for international expansion and the development of Seafolly into a full lifestyle brand,” said the brand’s chief executive Anthony Halas. “This is a very exciting time for Seafolly as our core focus has been the swim market, of which we are the global leader.”
Seafolly has annual revenues of AUD $100m (£54m) and sells through a network of partners including Selfridges, Nordstrom, Galeries Lafayette and Myer. It has 14 Seafolly stores and 23 Sunburn swimwear stores in Australia, and a further six Seafolly stores in Singapore and the US.