L Capital, LVMH’s Asia-based private equity firm, is reportedly in late stage talks with Australian swimwear label, Seafolly, according to leading b2b magazine, The Ragtrader. The name behind Louis Vuitton has been on the acquisition trail with investments in RM Williams, Jones the Grocer and 2XU.
Seafolly is family owned and operated (by the Halas family) with an annual revenue of more than $100 million. Founded in 1975 their most recent aggressive export strategy has been targeted to the USA where they have opened standalone stores (and accounting for approx 25% of all turnover) but they do export to some 42 countries worldwide.
Whether the brand will be a natural fit with the Vuitton Group remains to be seen but an announcement is expected before the end of 2014.