L Capital Asia, the private equity fund driven by luxury conglomerate LVMH, has taken a majority stake in Australian swimwear label Seafolly for an disclosed amount, following weeks of speculation.
“Our partnership with L Capital cements plans for international expansion and the development of Seafolly into a full lifestyle brand,” commented Anthony Halas, CEO of Seafolly. “This is a very exciting time for Seafolly as our core focus has been the swim market of which we are the global leader.”
With its new investment, L Capital Asia has now added a fourth Australian brand to it's growing portfolio. The private equity fund aims to develop Seafolly into a full lifestyle brand and expand into new product categories, as well as support the brand's global growth across new markets.
“We are excited to partner with the founders to participate in the next phase of Seafolly’s growth,” added Ravi Thakran, Chairman and Managing Partner of L Capital Asia. “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.”
Seafolly, an established, home grown swimwear brand, is globally reowned for its innovative fit and designs. The brand has brought in over 100 million Australian dollars in revenues by selling via a network of stand alone stores as well as international partners, including Selfridges, Nordstorm and Galeries Lafayette.