Seafolly Australia's private equity parent has acquired South American bikini brand Maaji as part of a plan to create a $US500 million ($657 million) "Sephora of swimwear".

L Catterton Asia, the private equity firm backed by luxury goods house LVMH, is aiming to emulate Sephora by building a global multi-brand retail platform selling a range of products related to the beach and pool, including bikinis, sandals, hats, bags and even inflatable toys.