LVMH's L Capital eyes Billabong's bikini brand - sources
Sources told the Australian Financial Review that Billabong has enlisted specialist firm Houlihan Lokey to drum up buyer interest in recent weeks.
L Capital has a taste for Australian labels with stakes in RM Williams, 2XU and fellow swimwear label Seafolly. If the rumours are true, the Seafolly and Tigerlilly labels could develop into something more: a mega swimwear label?
"At the moment we are carefully considering some of our smaller brands, including Tigerlily, VonZipper and Xcel, with a view to possible sales which could cover part of our debt and streamline our brand portfolio," said Billabong president Ian Pollard at the time.
Billabong and L Capital have not commented on the recent acquisition reports.
In its last fiscal year, Billabong reported a revenue of AUD1.1 billion (€740 million), 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 AUD60 million and AUD65 million.
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