L Capital Asia Holding Australian Swimsuit Brand Seafolly

Recently, LVMH supported L Capital Asia two phase Fund announced that it will get the controlling stake of the famous swimsuit brand Seafolly in Australia, and the details of the specific paction have not yet been disclosed.

The investment of L capital Asia to Seafolly is mainly aimed at enriching and perfecting the Seafolly product line, making it a brand of lifestyle brand, and speeding up the layout of the overseas market.

Seafolly is the leading swimsuit manufacturer in Australia, with a sales income of 100 million Australian dollars in 2013.

At present, the company has opened 14 Seafolly brand stores and 23 Sunburn multi brand retail stores in Australia, and 6 Seafolly stores in Singapore and California.

At the same time, the company and Myer, Selfridge, Nordstrom and so on.

There is cooperation.

Investment

It is the Asian Department of L Capital, a private equity fund launched and invested by LVMH, the largest luxury group in the world. The Department has invested in handmade boots brand RM Williams, functional sports brand 2XU and retailer Jones the in Australia.

Seafooly is the nineteenth investment project since the establishment of L capital Asia, and the fourth of its investment.

Brand.

"We are very pleased to be able to cooperate with Seafolly and assist in the next stage of development of the company.

Seafolly has aroused people's yearning for the summer beach in Australia, and we hope that more people will come into contact with this brand.

Ravi Thakran, director and partner of L Capital Asia, said.

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My-wardrobe, a luxury business in the UK, seems to be unable to escape bankruptcy. The company will be bankrupt within 3 months, sources said.

Since last month, the site has been cleared by forty percent off, and Thanksgiving has fallen to the website at half price.

Beginning in 2013, My-wardrobe news continued, along with the collective departure of the founder Sarah Curran team, including the pursuit of the third round of financing and listing rumors are considered the company's release of smoke bombs, in fact, the company was bankrupt in 2013.

However, the private equity fund Growth Capital Acquisitions eventually acquired My-wardrobe parent company Meemi Limited, making the e-commerce company exempt from bankruptcy in 2013.

After the acquisition of My-wardrobe by Growth Capital Acquisitions, Andrew Curran, the co-founder of My-wardrobe quit in 2010, returned to My-wardrobe as chief operating officer, and is ready to lead the electricity supplier out of trouble.

In 2011, David Worby, the chief executive officer of Harrods Harold, My-wardrobe, a senior department store retailer, and Joanna Stephenson, chief executive officer, announced the immediate withdrawal from the company.

After Andrew Curran returned to the interview, he said that the My-wardrobe positioning was too high. He would re adjust the product structure so that My-wardrobe positioning would be more competitive between the ASOS, PLC (ASC.L) and the luxury electronics giant Net-a-Porter.

In addition, the focus of My-wardrobe's development will also shrink from international expansion to the United Kingdom. Andrew Curran pointed out: "the growth potential of the UK is huge enough. I don't understand why we focus on Asia."

However, the return of Andrew Curran was only one quarter, and he left the company again in March 2014.

My-wardrobe was developed in 2006 by Sarah Curran, a former editor, and her ex husband Andrew Curran from a boutique in North London.

In 2010, the website received an investment of nearly 6 million pounds from the European Vc firm Balderton Capital. In 2011, it was injected with a 2 million 300 thousand pound fund.

According to reports, in the year ended June 2011, My-wardrobe, which had visited about 900 thousand times a month, achieved operating income of 13 million pounds through international expansion, up 75% from the same period last year.

Nevertheless, My-wardrobe still recorded a net loss of 3 million 800 thousand.

After that, the website hopes to seek a third round of financing, raising 3 million pounds to accelerate the pace of international expansion, and some will also be used to pay operating costs and fill losses.

But continued cash inflow and accumulated losses made My-wardrobe's financial crisis worse in October 2013, when the electricity supplier merged its two offices in London and Nottingham, leaving only procurement and sales teams to deal with the necessary business in Nottingham.

My-wardrobe also has offices in New York, Sydney, Dubai and Oslo.

Before My-wardrobe was on the verge of bankruptcy, another fashion business LN-CC in London, England, was also bankrupt due to the cash flow problem. However, it was bought by Level Group of Italy e-commerce service group to avoid bankruptcy. LN-CC founder and creative director John Skelton will continue to serve as creative director.