Zimmermann, the luxury women’s fashion brand acquired in August by private equity firm Advent International, swung to a loss last year despite a surge in sales.
Revenue rose from $382.5 million to $506 million in the 12 months to June 30, according to returns filed with the Australian Securities and Investments Commission. But rising wages and material costs pushed Zimmermann to a $27.3 million loss.
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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
