Swimwear brand Seafolly set to dominate industry after acquiring popular label Maaji
AUSTRALIA’S No. 1 swimwear brand Seafolly looks set to conquer the globe after its parent company acquired popular South American beachwear label Maaji.
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AUSTRALIA’S No. 1 swimwear brand Seafolly looks set to conquer the globe after its parent company acquired popular South American beachwear label Maaji yesterday.
The two brands — which together sell more than $200m worth of body-hugging beachwear annually — will become a bikini behemoth.
“We are creating a multibrand swimwear company like the (global cosmetics retailer) Sephora,” said Shantanu Mukerji, managing director, Australia and non-Asia, at L Catterton Asia, Seafolly’s owner.
Mr Mukerji wants to more than triple the conglomerate’s annual sales of $200 million to a whopping $660 million within five years.
Mr Mukerji plans to open more than 150 Seafolly and Maaji retail stores worldwide during that time.
“Seafolly has 20-30 per cent market share in Australia,” he said. “That means if you went to Bondi Beach, almost every third woman will be wearing Seafolly.”
Originally published as Swimwear brand Seafolly set to dominate industry after acquiring popular label Maaji
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