Seafolly Sells to "Mysterious" Bondi Brands Just Months After Deni Todorovič Controversy

Seafolly Sells to “Mysterious” Asian PE Firm Bondi Brands Just Months After Deni Todorovič Controversy

One of the most iconic swimwear brands in Australia has just been sold only months after mass customers threatened to boycott over their inclusion of non-binary model Deni Todorovič.

Seafolly, a brand promoted by super models like Miranda Kerr and Gigi Hadid, was sold by L Catterton in a deal reported worth about $70million.

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This sale comes only a few months after the Seafolly was rescued from administration and in the processwas forced to halve its operations and store presence to 30 stores. 

Seafolly Sells to "Mysterious" Bondi Brands Just Months After Deni Todorovič Controversy

Image Credit: Sea Folly Deni Todorovič

Seafolly was put up for sale four months ago with FTI Consulting after Seafolly sparked backlash and national debate in Australia in March when non-binary activist and model Deni Todorovič, was photgraphed wearing a lime green Seafolly bikini bottoms and cover-up for the brand.

FTI Consulting had previously said the company accounts for 30 per cent approx of the women’s fashion swimwear market in Oz and was apparently on track to make $90million this FY including a forecast to increase to $129million in the 12 months to the end of FY 2026 according to their new company’s three-year business plan,

Private Equity News Australia


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