Fashion label Tigerlily in upheaval ahead of 20th anniversary

Chief executive Chris Buchanan and chief financial officer Steven Hill have left the Sydney-based company.

Tigerlily was launched as a swimwear label by Jodhi Meares in 2000, while married to James Packer.

Fashion label Tigerlily is in a state of upheaval as the brand celebrates its 20th anniversary.

Both chief executive Chris Buchanan and chief financial officer Steven Hill departed the Sydney-based company.

Both Tigerlily and parent company private equity firm Crescent Capital Partners, declined to comment to The Australian.

Mr Buchanan had been with the company for just under two years, and Hill for three.

According to documents filed with the corporate regulator, Peter Verlain, a partner at parent company Crescent Capital Partners resigned as a director in December.

In November, the bohemian-inspired fashion label unveiled a whole new brand identity, wiping its Instagram archive clean and starting afresh.

Tigerlily’s new brand identity was unveiled in November with its Spring/Summer campaign.

This was in preparation for its 20th anniversary this year.

At the time, Mr Buchanan told The Australian that the company had been undergoing a “brand audit” for the previous 12 months.

“Over the last 20 years, we realised girls don’t come to buy a piece of clothing, they come to buy a piece for their adventures. We help them to make memories,” said Buchanan at the time.

He was also keen to spruik the brand’s sustainable fashion credentials, which have become a focus for the company in recent years.

“We’re moving away from synthetic fabrics towards a more sustainable approach. We’ve been testing new products, new fabrications, linens, silks, organic cottons. Those products are at a higher price point, but the customer has responded well.”

While the reasons for the managerial clear-out is unclear, if it is due to financial pressures, perhaps those higher price points have not paid off for the brand.

Tigerlily had set upon a new logo, brand identity and identified its core pillars as “optimistic, adventurous and ethical”.

Tigerlily was launched as a swimwear label by Jodhi Meares in 2000, while married to James Packer.

Alongside its covetable bikinis, it put on a number of high-wattage catwalk shows at Australian Fashion Week in its early days.

In 2000, international model Eva Herzigova wore a $500,000 pearl-encrusted bikini on the catwalk, while the following year Kristy Hinze famously wore a diamond-encrusted bikini with a diamond python around her neck.

In December 2007, Meares sold the label to Billabong International for $5.8 million. Meares stayed on board for a time after the sale before setting up activewear company The Upside.

Billabong sold the label for a reported $60 million to Crescent Capital Partners in 2017.