Zimmerman: Sisters Nicky and Simone sell their popular fashion brand beloved by Beyoncé for more than $1 billion
Zimmerman: Sisters Nicky and Simone sell their popular fashion brand beloved by Beyoncé for more than $1 billion
The Australian sisters behind luxury fashion brand Zimmerman sold the company for more than $1 billion.
Nicky and Simone Zimmermann sold their company to American equity firm Advent International for an undisclosed amount on Tuesday.
Last month, Advent International reportedly made a $1.75 billion bid for the company, which was backed by A-listers like Beyoncé, Taylor Swift and Kendall Jenner.
Nicky and Simone Zimmermann sold their company to US equity firm Advent International on Tuesday for an undisclosed amount of more than $1 billion.
Advent International reportedly made a $1.75 billion bid last month for the company carried by A-listers like Beyoncé, Taylor Swift and Kendall Jenner (pictured of Beyoncé with Zimmerman)
Zimmerman has 58 stores around the world after launching in Sydney in 1991.
Nicky started her career designing dresses in her parent’s 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 an important moment because suddenly I started receiving orders from boutiques all over Australia and I felt a real momentum,” she said.
“Soon after that I opened a small shop in Darlinghurst.”
Her sister joined the company in 1991, which is now sold in stores in the UK, Europe, US and China.
More to come