Zimmermann takes on General Atlantic as investor

Australian designer label Zimmermann has taken on a minority investor to continue its international push.

Supplied Editorial supplied image of Nicky Zimmermann for Fashion Confidenttial

Australian designer label Zimmermann has taken on investors to continue its international push into the US and Europe.

Only three weeks ago in New York, designer Nicky Zimmermann told The Australian, “We have no reason to take our foot off the accelerator,” with regards to international expansion, in particular new retail shopfronts.

Now, they have put the pedal to the metal with a minority investment from US growth equity firm General Atlantic.

Arguably Australia’s most successful brand on the international stage, the Zimmermann sisters Nicky and Simone have four stores already operating in the US between New York State and Los Angeles, and have just shown their seventh consecutive show at New York Fashion Week.

“It’s a very exciting time for Simone and I,” Nicky told The Australian. “We’ve always had a goal for what the brand can become globally and the new partnership allows us, as designers from Australia, to dream beyond even our wildest expectations.”

The siblings started the label in 1991 and have kept it a fully independent company until now.

“As Australia’s leading luxury fashion brand, Zimmermann brings a fresh perspective to the global luxury fashion market with a truly outstanding creative energy and a clear and differentiated design vision.” said Andrew Ferrer, principal of General Atlantic’s Global Retail & Consumer team, based in New York.

“With such a strong aesthetic and unique offer, there is significant opportunity to expand across all channels and geographies.”

The brand has opened its international stores strategically in terms of real estate opportunities, and is looking for the right location in London among other locations within Europe and the US.

Nicky said: “Simone and I feel extremely fortunate to work with incredibly creative people and to continue on this journey to take our Australian fashion story to an even larger audience around the world.

“The loyalty and passion from our clients, team and supporters over many years is something that we never take for granted. It drives us season after season to create more unique collections, and to pursue new ideas and projects that engage and entertain the people who love our brand. There is so much for us to do and so much to look forward to.”

General Atlantic has made investments in brands including Tory Burch and Too Faced Cosmetics, as well as share-economy tech companies Uber and Airbnb.

Under the new deal, Zimmermann’s founders and management team will remain majority shareholders in the company and General Atlantic will join the Zimmermann board.