LVMH’s Asia-based private equity firm, L Capital, has taken a majority stake in Australian swimwear retailer, Seafolly.

Seafolly has achieved more than $100 million in revenue, selling through a network of international partners including Myer, Selfridges, Nordstrom and Galeries Lafayette.

There are 14 Seafolly stores and 23 Sunburn Stores in Australia, and a further six in Singapore and California.

With the investment in Seafolly, L Capital Asia has added another Australian brand to its portfolio, which includes RM Williams, 2XU and Jones the Grocer.

L Capital Asia plans to tap into the brand equity of Seafolly to develop it as a full lifestyle brand into other product categories as well as support growth globally across new markets.

Anthony Halas, CEO of Seafolly, said: “Our partnership with L Capital cements plans for international expansion and the development of Seafolly into a full lifestyle brand. This is a very exciting time for Seafolly as our core focus has been the swim market of which we are the global leader”.

Ravi Thakran, chairman and Managing Partner of L Capital Asia, said: “We are excited to partner with the founders to participate in the next phase of Seafolly’s growth. Seafolly invokes Australian summer and beaches in people’s minds across the world, and we expect to take the brand to more people across the globe”.