Investment fund Style Capital acquires Australia's Zimmermann

By

Dominique Muret

Published
Dec 3, 2020

Following the success that it obtained with Italian labels Twin-Set and Golden Goose in the past, Style Capital has chosen to bet on the potential of a brand based in Oceania. The Italian investment fund has acquired a majority stake in Australian women's ready-to-wear brand Zimmermann, known for its fresh aesthetic, simultaneously sexy and bohemian. Negotiations had been underway for some time, but were interrupted by the Covid-19 pandemic. As confirmed to FashionNetwork.com by Style Capital CEO Roberta Benaglia, the deal has now been sealed.
 

 
"Style Capital acquired a 70% stake, while the remaining 30% will remain in the hands of the Zimmermann family. We have signed a binding agreement, and the acquisition is expected to close before the end of the year," explained Benaglia, without specifying the cost of the transaction. The brand is well valued, at more than 300 million euros according to some sources. American investment firm General Atlantic, which acquired a minority stake in Zimmermann in 2016, is pulling out of the business. 
 
Style Capital currently owns Italian ready-to-wear brand Forte Forte, which it purchased in 2017, as well as a 32% stake in designer Massimo Giorgetti's MSGM and a 31.3% stake in Los Angeles-based denim and apparel brand Re/Done. With Zimmermann, Style Capital has acquired a brand with strong potential.

Positioned in the same segment as diffusion lines, such as Isabel Marant Etoile and See by Chloé, the Zimmermann label was founded in Sydney in 1991 and has since become one of the best-known brands in Australian fashion. The label's offering includes delicate and desirable pieces that feature exclusive prints and details, evoking the sunshine and carefree attitude of vacations. 
 
The brand is led by designer Nicky Zimmermann and her sister, Simone, who manages the company's operations. Influenced by her milliner grandmother, Nicky ZImmermann has been passionate about fashion since a very young age and started out by making clothes for her friends and selling her dresses at markets.
 
With its typically Australian spirit of fun and positivity, the brand really took off when it added a collection of trendy and highly sought-after swimwear to its ready-to-wear line. By adapting pieces in different lengths and styles, the label has also created a real depth in its offering and therefore manages to appeal to a wider customer base, including both young girls and more mature women. The company has further enriched its brand universe with accessories – such as bags, jewellery and shoes  – a children's line, and men's swimwear. 

The label is currently distributed through multiple retailers, as well as 19 company-owned points of sale in Australia, 13 boutiques in the U.S. and five in Europe, spread over France (Saint-Tropez and Paris), Italy (Milan and Capri) and the UK (London). Next year, Zimmermann reportedly has plans to open two new stores in Cannes and Rome.