Fashion mogul Simone Zimmermann purchases $30million Bondi home after selling her clothing brand for over $1billion
She is one half of an Australian duo whose fashion label grew from a stall at Paddington Markets into a global brand with fans who will spend as much as AU$5,000 on a dress.
Now Simone Zimmermann has expanded her property portfolio with a $30 million Bondi home.
The purchase of the five-bedroom home has surpassed house price records for the area and is one house away from the famous Bronte beach walk.
The property, which has a swimming pool and several outdoor areas, and while fairly modern, is expected to undergo renovations before Zimmermann moves in.
The north-facing home overlooks the Ben Buckler Peninsula, where Simone bought her last home in 2017 for $5.5 million.
She is one half of an Australian duo whose fashion label grew from a stall at Paddington Markets into a global brand. Now Simone Zimmermann (pictured left) has expanded her property portfolio with a $30 million Bondi home
The purchase of the five-bedroom home has surpassed house price records for the area and is one house away from the famous Bronte beach walk
Adjacent to the property is a 1960s home that set a purchase price record in the suburb, reaching $15 million in 2013.
This residence was purchased by James Taylor, a venture capitalist and advocate of blue-green independents.
Just a short distance away is the home of Brett Robson, head of real estate at Macquarie.
Last year, Simone and her sister Nicky sold their luxury fashion brand Zimmermann for a reported $1 billion.
The property has a swimming pool and various outdoor areas
The north-facing house overlooks the Ben Buckler Peninsula, where Simone bought her last home in 2017 for $5.5 million
Although the property is fairly modern, renovation work is expected to take place before Zimmermann moves in.
The Zimmermann sisters sold their company to US equity firm Advent International in August for an undisclosed amount.
Around that time, Advent International had reportedly made a $1.75 billion bid for the company carried by A-listers like Beyoncé, Taylor Swift and Kendall Jenner.
After launching in Sydney in 1991, Zimmermann has 58 stores around the world.
Nicky started her career designing dresses in her parents’ garage and selling them at Paddington markets.
‘While I was working in the markets I had two pages of editorial in Australian Vogue. That was a big moment because suddenly I started receiving orders from boutiques all over Australia and I felt a real momentum,” she said.
‘Shortly afterwards I opened a small shop in Darlinghurst.’
Nicky (right) and Simone Zimmermann (left) sold their company to US equity firm Advent International last year for an undisclosed sum believed to be more than $1 billion
Simone joined the company in 1991, which is now sold in stores in the UK, Europe, the US and China.
Zimmermann recently opened a second design studio in Paris.
Dresses from the luxury brand range from $495 to $3,500.
A 70 percent stake in the company had already been acquired in 2020 by Milan-based investment fund Style Capital for $408 million.
Last year’s sale leaves the Zimmermann duo and Style Capital with a significant minority stake.
Zimmermann’s founders and management team will continue to drive the brand’s future growth.
Advent International had reportedly made a $1.75 billion bid last month for the company carried by A-listers such as Beyoncé, Taylor Swift and Kendall Jenner (pictured Beyoncé in Zimmermann)