Australian bikini company Seafolly has been sold to a mystery Asian buyer, according to reports.
Bondi Brands Group is the buyer, according to documents the AFR obtained from the Hong Kong Companies Registry.
Seafolly was started in 1975 by Peter and Yvonne Halas in Bondi Beach Sydney making it almost 50 years old.
It currently has 30 stores – half what it used to have- and is sold in 50 countries.
Famous faces who have modelled for the brand include Miranda Kerr.
Former chief executive Anthony Halas, son of Peter Halas, said he hopes the new owners can “bring it back to its former glory”.
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The company was sold in 2014 to to L Capital Asia, the private equity arm of luxury goods giant LVMH.
L Catterton later took ownership.
In 2020 Seafolly fell into administration, blaming supplier issues amid COVID-19 and the black summer of bushfires – but was rescued.
The company commands about 32 per cent of the women’s fashion swimwear market in Australia and is on track to deliver sales of $90 million in the 2023 financial year.Financial Review, said.
Total sales, according to the business’ three-year financial plan, are forecast to increase to $129.7 million in the 12 months to the end of June 2026.
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