Luxury womenswear label, Zimmermann has sold a majority stake in its company to private equity investors, Advent International, for a record-breaking sum. Under the terms of the agreement, which was announced on Tuesday, Advent will acquire a majority shareholding in Zimmermann, purchased from former investors Style Capital, which bought a 70 per cent stake in the brand in 2020. Style Capital will continue to have a minority shareholding in the label. The Zimmermann family, including sisters Nicky and Simone Zimmermann who founded the brand at Sydney's popular Paddington markets in 1991, will retain their significant minority shareholding.
https://www.news.com.au/lifestyle/fashion/designers/australian-designer-brand-zimmermann-sells-to-advent-international-for-reportedly-175bn/news-story/3c504a26cd8e2f6f21a411c48674d093#news