MILAN :Private equity firm Advent International has bought a majority stake in Australian fashion brand Zimmermann from the founding family and Italian fund Style Capital, it said.
Zimmermann has revenue of some $260 million and a more than 30 per cent core profit margin, the people said. Founded in Sydney in 1991 by sisters Nicky and Simone Zimmermann, the brand has grown in the last three decades to gain international recognition for its luxury swimwear and sophisticated floral prints reminiscent of still-life painting.
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