By Emma Koehn
The billionaire Forrest family will invest in Australian fashion powerhouse Camilla, as the brand known for its distinctive prints works to expand its global reach.
Andrew and Nicola Forrest’s investment vehicle Tattarang will take a minority shareholding in Camilla Australia, which was founded by Camilla Franks in 2004.
Nicola Forrest with Camilla Franks. Tattarang’s investment in Camilla will be the first time the fashion label has taken on external capital.
Camilla has gained global attention over the past year after the brand’s designs featured in cult-hit TV series The White Lotus, while a host of celebrities from Beyonce to Robbie Williams have also worn Camilla designs.
The investment comes after a strong period of global growth for the business, which now generates around 40 per cent of its sales overseas. Camilla now has 25 retail boutiques in Australia and the United States and hundreds of stockists across 65 countries.
Camilla chief executive Jane McNally said the brand’s followers have supported the company strongly during the COVID years, leading to a period of accelerated growth.
“It’s wearable art, and we have people that collect our brand,” she told this masthead.
Documents filed with the corporate regulator show the company’s revenue jumped from $98 million to $118.2 million between 2021 and 2022, and the business recorded an $8.9 million profit for the 2022 financial year, up from $8 million in 2021.
Those familiar with the Tattarang partnership said the value of the investment agreement was understood to be in the region of $40 million.
McNally said the brand had expanded in recent years beyond its roots as a resort wear and kaftan designer, and that occasion dresses were now the Camilla’s best-selling category.
The group’s menswear offer has also seen a surge in sales over the past year.
Jennifer Coolidge wearing Camilla in the HBO/Foxtel series The White Lotus.Credit: Screenshot
“Probably The White Lotus has really helped in that regard, really, because there were lots of very attractive gentlemen wearing Camilla,” McNally said.
The business will look to use the investment proceeds to launch new standalone boutiques overseas, as well as take brand awareness for its newer categories, like men’s and kids wear, to a new level.
It’s not the first time the Forrests have backed an iconic Australian brand, with Tattarang bringing boot maker RM Williams back into local ownership in 2020 in a deal worth $190 million.
Nicola Forrest said Camilla Franks had put Australian fashion on the global stage.
“We are delighted to back Camilla Franks, an extraordinary entrepreneur leading a cutting-edge fashion brand and doing amazing things in the creative space,” she said.
Tattarang has placed a focus on supporting female founders in recent years, including backing SWEEF Capital, an impact investment firm focused on backing female entrepreneurs in South East Asia.
Nicola Forrest said she was focused on backing female-led and founded businesses directly and through early-stage investment funds that target female entrepreneurs.
“There is a strong correlation between gender equality and organisational success across profitability, attraction and retention of best talent and business reputation,” she said.
The deal marks the first external investment partnership Camilla has had since Franks launched the business 18 years ago. She said Nicola Forrest and Tattarang was the right partner for the business moving forward.
“We share so many synergies with Tattarang including Australian roots, a commitment to sustainability, a purpose beyond commerce, and an interest in storytelling through art. The investment partnership with Tattarang brings me great joy.”
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