KWM helps Milan investor snag a piece of top Australian fashion brand

The firm has made waves in the lifestyle sector over the last quarter of 2020

KWM helps Milan investor snag a piece of top Australian fashion brand

King & Wood Mallesons (KWM) has helped Style Capital, a Milan-based private equity investor, to snag a majority stake in top Australian fashion brand Zimmermann.

According to The Sydney Morning Herald, Style Capital will obtain a 70% stake in Zimmermann. The investment serves to “help continue Zimmermann’s global trajectory with a focus on European and Asian retail markets, digital growth, increase of its wholesale footprint and expansion into new categories,” the companies said in a statement.

Launched in 1991 by Nicky and Simone Zimmermann, the Zimmermann brand got its start at the Paddington markets before expanding to worldwide to fashion hubs like Paris and London.  

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“In recent years, I have followed the brand’s growth path with admiration, thinking how brave and talented these two Australian sisters have been in taking their luxury vision from Australia to the rest of the world,” said Roberta Benaglia, Style Capital’s CEO.

She referred to the partnership as being “a real privilege for Style Capital,” and a move that is in line with the company’s aim to “invest in talented people and their brands.” Style Capital’s portfolio includes investments in fashion brands Forte_Forte, Re/Done and MSGM.

“The Zimmermann fashion label is a highly successful Australian fashion brand that has grown to occupy a unique and highly desirable position in Australia and offshore. We were delighted to be working with Style Capital on this important transaction in the fashion industry and look forward to continuing our partnership with them and the Zimmermann team in the years to come,” said KWM partner Mark McNamara, who leads the firm’s private equity team.

McNamara headed up the team working on this transaction alongside partners Elizabeth Hundt Russell and Scott Bouvier. They received support from senior associates Genovieve Lajeunesse, Dan Flanagan and Melissa Miller.

KWM has made waves in the lifestyle sector over the last quarter of 2020; the firm also advised the joint lead managers of online cosmetics retailer Adore Beauty Group on the company’s approximately $270m IPO – an IPO that was the largest to date in late October.

“It was great to see such a strong contingent of female professionals involved in the IPO, including from the law, accounting, banking and communications fields,” said special counsel Amanda Isouard, who was part of the ECM team working on the deal.

She collaborated with partner David Friedlander and solicitor Gemma McMahon.

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