Tigerlily swimwear brand back in fashion with three suitors

Tigerlily swimwear founder Jodhi Meares.

Three parties are believed to be in the data room for the Tigerlily swimwear brand, which is up for sale through Deloitte.

The retailer, founded in 2000 in Sydney by the former wife of billionaire James Packer, Jodhi Meares, was sold by Billabong to Crescent Capital for $60m in 2017.

Billabong had bought the business in 2007 for $5.8m.

It lost its way and fell into voluntary administration in 2020 after being hit hard by the pandemic.

In the past, L Capital Asia, backed by luxury goods giant LVMH, had looked at Tigerlily when it was up for sale by Billabong.

For the 2023 financial year, Tigerlily generated $18m in annual revenue, and it has grown 34 per cent over three years. But in that time, it has been losing money.

For 2023 its cost of goods sold was $7.5m, operating expenses $13.6m and normalised earnings before interest, tax, depreciation and amortisation slipped to a negative $2.6m.

Some say that while the brand has lost its way, it has the potential to reverse its fortunes.

Tigerlily in its time was one of the most popular swimsuit brands in Australia.

The company describes itself on its website as a brand that delivers “the ultimate holiday wardrobe, designed to take you away at home or abroad for any occasion”.

It offers beach fashion and swimwear.

The brand operates retail boutiques in Australia and distributes worldwide.

Prices of its apparel range from $70 to $250.