ZIMMERMANN, the Australian luxury fashion brand, announced today a minority investment from General Atlantic, a leading global growth equity firm, to accelerate the company’s expansion in the United States, Europe and around the world. Sisters Nicky and Simone Zimmermann, who recently made headlines for landing a look in Beyonce’s Formation video, founded their namesake brand in Sydney in 1991. “We are thrilled to have General Atlantic join us as we continue on our path of building a global luxury brand from Australia,” said ZIMMERMANN Creative Director and Co-Founder, Nicky Zimmermann.
Chris Olliver, CEO of ZIMMERMANN, added: “Nicky and Simone have created a unique and authentic brand with a clear and consistent aesthetic. There are so many amazing possibilities and the opportunity to build on our brand vision and partner with a successful, experienced and globally-minded firm like General Atlantic is a very exciting one.”
In the company’s next phase of growth, ZIMMERMANN plans to continue expanding its presence globally with multi-channel distribution including new store openings, selective wholesale partnerships, and e-commerce throughout the United States, Europe and the rest of the world.
“As Australia’s leading luxury fashion brand, ZIMMERMANN brings a fresh perspective to the global luxury fashion market with a truly outstanding creative energy and a clear and differentiated design vision.” said Andrew Ferrer, Principal of General Atlantic’s Global Retail & Consumer team, based in New York. He continued, “With such a strong aesthetic and unique offer, there is significant opportunity to expand across all channels and geographies. We look forward to working with ZIMMERMANN’s impressive entrepreneurial founders and highly committed team to build upon the brand’s strong momentum.”
Nicky added: “Simone and I feel extremely fortunate to work with incredibly creative people and to continue on this journey to take our Australian fashion story to an even larger audience around the world. The loyalty and passion from our clients, team and supporters over many years is something that we never take for granted. It drives us season after season to create more unique collections, and to pursue new ideas and projects that engage and entertain the people who love our brand. There is so much for us to do and so much to look forward to.”
General Atlantic’s Global Retail & Consumer sector, led by Andrew Crawford, focuses on differentiated brands, products and business models that capitalize on global consumer trends. As a firm, General Atlantic has made strategic investments in brands including luxury lifestyle brand Tory Burch; Too Faced Cosmetics, a global beauty brand specializing in high-quality and innovative make-up products; and market leading technology businesses such as Uber and Airbnb.
ZIMMERMANN’s founders and management team remain majority shareholders in the company and General Atlantic will join the ZIMMERMANN Board.