The Australian brands chasing Zimmermann’s unicorn status
High fashion that appeals to wealthier consumers is proving palatable for private equity. But investors also need to know and trust those running the business.
After the staggering $1.7 billion valuation of Zimmermann just weeks ago, Australia’s fashion industry wants to know: who is next?
Last month, American firm Advent International acquired 70 per cent of the Sydney brand, which started at the Paddington markets and now shows at Paris Fashion Week and has 58 retail stores around the world, in a deal that valued the company between $1.5 and $1.75 billion. It is the biggest transaction in Australian fashion to date. Industry insiders believe a number of brands could replicate its success – in time.
Lauren SamsFashion editorLauren Sams is the fashion editor, based in Sydney. She writes about lifestyle including the arts, entertainment, fashion and travel. Lauren has worked as a features editor and fashion journalist for ELLE, marie claire and more. Email Lauren at lauren.sams@afr.com
Aaron WeinmanCorrespondentAaron Weinman is a correspondent at The Australian Financial Review who covers investment banks, private equity firms and the broader capital markets. Connect with Aaron on Twitter. Email Aaron at aaron.weinman@afr.com
