Popular Australian brand Seafolly has been sold to a mysterious Asian company by US private equity firm L Catterton.
The brand, which was founded in 1975 by Peter and Yvonne Halas, has been in the care of L Catterton since 2016 and was recovering after falling into administration in 2020.
US private equity firm L Catterton sold the brand to unknown company Bondi Brands Group. Picture: L Catterton The two founded Peter's Folly, which later was renamed Seafolly, in 1975 and originally sold denim sundresses before pivoting to swimwear. L Capital Asia was then acquired by L Catterton two years later, with Seafolly among a handful of well known Australian brands transferred to the US firm.
It is believed the private equity firm poured about $10 million into the struggling business, in addition to Seafolly finding other sources of funding.
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