LVMH Group Plans To Acquire Australian Swimsuit Brand Tigerlily

According to the world clothing shoes and hats net,

Group (LVMH.PA) private equity fund LCatterton Asia plans to acquire Australia

brand

The latter belongs to Billabong International (BBG), Queensland surfing fashion group, which has a brand history of 16 years.

A spokeswoman for LCatterton Asia declined to comment. As of press release, neither Moelis&Co. nor Houlihan Lokey had any further comment.

In 2000, the first wife of Australian casino tycoon James Packer, the former supermodel Jodhi Meares, founded the Tigerlily brand, and then sold the brand to the Billabong group at a price of 8 million Australian dollars or 6 million 710 thousand US dollars in December 2007.

According to the 2016 performance report released recently by Billabong group, Tigerlily brand has achieved 21% sales growth in Australia, creating a growth record of swimsuit product category, which once again proves the brand's market position.

Billabong group recently said that in order to repay the loan of 201 million 700 thousand US dollars and simplify its business, the group focused on the development of group core brands Billabong, Element and Rvca. It will consider selling three smaller brands, including Von Zipper, Xcel and Tigerlily. At present, the group has a market value of about 249 million Australian dollars or 179 million US dollars.

Billabong group spokesman Chris Fogarty expects that the three or more brands will be worth more than 100 million Australian dollars or 72 million US dollars, of which Tigerlily is the largest brand among the three brands.

He disclosed that Tigerlily currently has at least 20 potential buyers worldwide, but declined to disclose the detailed list.

In August of this year, Philip Corne, executive chairman of the new LCatterton Australia region, pointed out that LCatterton Asia is seeking more room for growth and hopes to further expand its current Oceania portfolio. The company will acquire six to eight high-end consumer brands in Australia and New Zealand.

Up to now, the Australian fashion brands acquired by LCatterton Asia include shoe brand RMWilliams, sports apparel brand 2XU and swimwear brand Seafolly.

LCatterton is a new investment company formed by Groupe Arnault, a controlling shareholder of LVMH group and LVMH early this year. After the completion of the merger, the total assets of LCatterton will reach US $12 billion.

LCapital Asia has been established as an independent investment company since 2009. The company's assets include Jonesthe Grocer and YG entertainment company. In addition, there are Chinese SasseurCayman operators, SasseurCayman Arabian, Saudi Arabian gourmet sweets manufacturers, restaurant chain Bateel, and Singapore's landmark bar in the golden Sha Wan highland Sky shelter. In 2014, it bought more than 90% stake in the Singapore Chain Restaurant emerald noodle Xiaolong Bao in 2014.

Since September 2010, LCapital Asia, the predecessor of LCatterton Asia, has invested 5 companies in Greater China.

Among them, two are jewelry jewelers of Hongkong, jewellery and Ming Feng, and the other three are women's clothing JORYA's parent company, Hsing ho group, Europe's Ochirly parent company Heji international and beauty cosmetics brand.

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