Private equity company Crescent Capital has appointed Deloitte to assist in the potential sale of women’s clothing and swimsuits brand Tigerlily, according to sources quoted by the Australian Financial Review.

The company is understood to be looking to capitalise on the increased interest in the beach apparel category.

Deloitte is expected to prepare a flyer highlighting Tigerlily’s position in the apparel space within the coming weeks.

Founded in 2000 in Sydney, Tigerlily is known for its patterned dresses and bikinis. The brand was acquired by Crescent Capital in 2017, but fell into voluntary administration in March 2020, largely due to the impact of the Covid-19 pandemic.

The business started to reemerge after Travis Wright, former GM of Esther & Co, became CEO in 2021.

Tigerlily posted about $20 million in revenue in FY22 and expects double-digit growth this year. It also lifted in-store average order value by 20 per cent over FY23 and has returned to profitability.

The brand currently operates 10 retail boutiques across Australia and distributes its products worldwide via 40 wholesale partners.