In this special coverage, Ragtrader unpacks the key insights and news from its Breakfast of Big Ideas event this week on June 26.
Seafolly CEO Brendan Santamaria has confirmed that the brand is eyeing further acquisitions in the swimwear space following its recent purchase of Tigerlily, which had entered voluntary administration earlier this year.
It also follows the acquisition of Seafolly from an overseas buyer mid-last year, three years after it went into administration in 2020.
“We have to look at what else we can do with the brand and we want to be the house of swimwear,” Santamaria said. “We've just bought Tigerlily, and we're now looking around at other opportunities in this space.”
Currently, Tigerlily has four boutiques in New South Wales, including Bondi Junction, Byron Bay, Kotara, and Miranda. The brand’s website is currently down for maintenance.
These stores add to Seafolly’s 30 stores globally, which include 26 across Australia and four in Singapore.
Santamaria added that all brands must focus on going global in this modern age.
“I think the consumer today can see the world and they see product that is six months in advance of what happens in Australia,” he said.
“I've got teenage daughters who are very tech savvy, and they buy goods from all over the world. As a fashion industry, you need to be aware of that. “You have to embrace what we need to know and if you look at our industry, over 70% of our transactions in our bricks and mortar stores or our wholesale customers start online.
“So if the customer is going to Selfridges to buy Seafolly in the UK, they know exactly what they're going to get. We need to make sure all three channels are aligned and the right message is getting put out to the market.”
Santamaria sat alongside R.M.Williams CEO Paul Grosmann in the Q&A session, with both sharing insights in repositioning brands for success.