Australian mining billionaire Andrew Forrest said his private company bought bootmaker R.M. Williams from French fashion giant LVMH, returning ownership of the famed fashion label to its home country after six years.
The LVMH-backed private equity firm has purchased a controlling stake in the South American bikini brand, with plans to create the largest independent house of beach lifestyle brands, alongside Seafolly.
Looking to offload Tigerlily, Billabong has turned to Houlihan Lokey to garner buyer interest. Meanwhile, local reports said on Monday that LVMH's L Capital Asia could be interested in the Australian swimwear loot.