Sisters Nicky and Simone Zimmermann have sold the rapidly expanding label Zimmermann to US equity firm Advent International for an undisclosed amount. Last month, Advent reportedly made an unsolicited offer of $1.75 billion for the business.
Sisters Nicky and Simone Zimmermann have set the bar higher than a supermodel’s scrunchie for fashion rivals, with the sale of their womenswear company to US equity firm Advent International.on Tuesday that leaves the Sydney-based sisters and previous investors Style Capital with significant minority shareholdings. Last month, Advent reportedly made an unsolicited offer of $1.75 billion for the business.
Co-founder Simone works as chief operating officer for Zimmermann, which has been worn by Kendall Jenner, Taylor Swift, Princess Catherine and Beyoncé. While retaining a design studio in Sydney, a second Zimmermann studio was recently launched in Paris. “Zimmermann presents a rare and exciting opportunity to acquire a fast-growing iconic luxury fashion brand with significant potential for further expansion,” says Ranjan Sen, managing partner at Advent. “The Zimmermann team have successfully created a distinctive and desirable global luxury brand, which has built a loyal customer base around the world.
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