Seafolly is the second Australian brand sold this week after Bondi Sands changed hands.
The buyer, HK-registered Bondi Brands Group, was only incorporated in June.
Seafolly’s sale defies a difficult environment for consumer discretionary businesses.
Homegrown swimwear brand Seafolly has been sold by its private equity owner, US retail specialist L Catterton, to an Asian strategic buyer in a deal valuing the famous label at about $70 million.
Despite the tough market for retail, the sale marks the second struck this week for an Australian brand, after Bondi Sands was traded by its founders for $450 million to Japan’s Kao Corporation on Tuesday.
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Carrie LaFrenz is a senior journalist covering retail/consumer goods. She previously covered healthcare/biotech. Carrie has won multiple awards for her journalism including financial journalist of the year from The National Press Club. Connect with Carrie on Twitter. Email Carrie at carrie.lafrenz@afr.com
