Advent International

For fashion’s private market investors, deal-making may provide less-than-ideal returns and raise questions about the long-term value creation opportunities across parts of the fashion industry, reports The State of Fashion 2024.

This week, the Australian label’s founders and private equity backers sold a majority stake to Advent International in a deal valuing the business at just over $1 billion at a time when others in the accessible luxury space have struggled to find buyers.

This week’s global markets round-up of fashion business news also features Advent to buy Zimmermann in a $1 billion deal, Amyris to shut down Costa Brazil and Onda Beauty and cotton yarn demand stagnant in north India.

The private equity giant is acquiring a majority stake in Australian fashion brand from the founding family and Italian fund Style Capital.

From her vantage point as managing partner at a global private equity firm, Glynn explores for The State of Fashion: Beauty the enduring opportunities beauty provides investors.