Thomson Geer has finalised the sale of a large stake in swimwear group, Seafolly to L Capital, the Asian arm of global luxury goods group Louis Vuitton Moet Hennessey (LVMH).
The deal was accepted by founders, the Halas family, following over 12 months of negotiation. The deal values the privately held Seafolly at over $100 million and will see the Halas family retain a 29 per cent stake in the operation. Sales for the company have grown from $6m to $120m over the last 18 years, with expectations that this figure could rise to $500m in the next 4 to 5 years.
It is expected that LVMH will assist Seafolly with further global expansion plans, along with plans to develop the company into a true lifestyle brand with products on offer such as sleepwear, skincare and sun protection. Anthony Halas will remain CEO of the Seafolly Group.