Zimmermann is speculated to be sold to Advent International for $1.75b.
The transaction stands out in a tough market for deals and a slowing economy.
The implied valuation is particularly attractive for an apparel company.
With a deal on the table for $1.75 billion, beloved Australian fashion brand Zimmermann could soon be in the hands of American investment firm Advent International, a sale that would set a precedent for the local fashion industry and potentially turn it on its head.
The Australian Financial Review revealed on Thursday that Advent International had made a bid for Zimmermann, which was not officially up for sale. Banker Alice Wells of Lempriere Wells called it “a solid valuation” for the brand, founded by sisters Nicky and Simone Zimmermann in 1991 at Sydney’s Paddington Markets.
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Lauren 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
