×
6 734
Fashion Jobs
HOLLISTER CO. STORES
Hollister CO. - Graduate Manager in Training, Stratford (Westfield)
Permanent · London
HOLLISTER CO. STORES
Hollister CO. - Graduate Manager in Training, White City London (Westfield)
Permanent · London
SELFRIDGES
Finance Analyst- Domain
Permanent · LONDON
SELFRIDGES
Finance Manager – Domains
Permanent · LONDON
SELFRIDGES
Tech Business Analyst - Customer & Omni
Permanent · LONDON
NEXT
Sales Manager - Coventry Arena RP
Permanent · COVENTRY
EVERLAST GYMS
Assistant General Manager - Everlast Fitness
Permanent · SELBY
EVERLAST GYMS
Assistant General Manager - Everlast Fitness
Permanent · EPSOM
EVERLAST GYMS
General Assistant - Everlast Gyms
Permanent · SALE
EVERLAST GYMS
Assistant General Manager - Everlast Fitness
Permanent · DENTON
FRASERS GROUP
Warehouse Section Manager - Night Shift
Permanent · SHIREBROOK
VIVIENNE WESTWOOD
PA to Creative Director
Permanent · LONDON
DR. MARTENS
eu HR Administrator - French And/or German Speaking
Permanent · LONDON
HARRODS
Cleaning Operative- Day or Night
Permanent · LONDON
HARRODS
Uniform Security Officer (Cctv Operator)
Permanent · LONDON
FLANNELS
Beauty Brand Manager - Pat Mcgarth
Permanent · BELFAST
HUGO BOSS UK LTD.
Sales Executive - Shoes & Accessories + Bodywear & Hosiery
Permanent ·
HUGO BOSS UK LTD.
Womenswear Sales Manager
Permanent ·
HUGO BOSS UK LTD.
Ecommerce Marketplace Manager Northern Hub
Permanent ·
HUGO BOSS UK LTD.
Finance Manager (Maternity Contract)
Permanent ·
HUGO BOSS UK LTD.
Sales Executive Boss Menswear
Permanent ·
GANT
Brand Consultant - Full Time - Gant House of Fraser Manchester - mw/lw
Permanent · MANCHESTER
Ads
Published
Feb 23, 2017
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Billabong offloads bikini brand Tigerlily for $60m

Published
Feb 23, 2017

Battling surf group Billabong has reportedly sold its bikini brand Tigerlily for AU$60 million (US$46.15 million), much less than previous valuations given by experts.


Billabong's Tigerlily is now owned by investors Crescent - Tigerlily


According the Australian Financial Review, Billabong has sold its Tigerlily brand to Crescent Capital Partners for $60 million -- some $40 million less than previous valuations.

However, Billabong did manage to offload Tigerlily for ten times more than its purchase price of $5.8 million -- when Billabong took over the promising bikini outfit from founder Jodhi Meares in 2007 -- and more than its book value of just $3.6 million.

Specialist firm Houlihan Lokey acted on Billabong's behalf for the Crescent Capital deal, with Gilbert + Tobin and PwC advising Crescent.

In late December, it was reported that Tigerlily had attracted the eye of LVMH's private equity arm L Capital Asia, with the AFR adding the investor group had unofficially entered into talks Houlihan Lokey. All parties at the time declined to comment.

Crescent Capital Partners is a Sydney-based private equity firm investing in middle market companies located in Australia and New Zealand with enterprise values between A$50 million and A$300 million. It currently owns mineral makeup brand Nude by Nature, as well as several health, tech and manufacturing brands. It sold its stake in online surf retailer SurfStitch in late 2015.

Over the past nine years, Tigerlily generated sales of $30 million and earnings of $7 million to $8 million for Billabong. The brand has also entered foreign markets such as New Zealand, The Philippines and Hong Kong.

In its last fiscal year, Billabong reported a revenue of $1.1 billion, with an EBITDA of AUD57.5 million. For the 2016-17 fiscal year, which kicked off with a weak first four months, the group expects an EBITDA ranging between $60 million and $65 million.

Billabong will release its December-half results on Friday.

 

Copyright © 2022 FashionNetwork.com All rights reserved.