Zimmermann's valuation has surpassed one billion US dollars.

Earlier this month, Advent International, a private equity firm, announced its acquisition of a majority stake in Zimmermann from Style Capital. Insider sources indicate that this transaction values the brand at approximately 14 times its core profits, totaling around $1.15 billion (AUD 1.76 billion). As a result, Zimmermann becomes the first Australian fashion brand to surpass a billion-dollar valuation.

Advent International's portfolio includes a diverse range of brands, from activewear label lululemon to perfume brands Parfums de Marly and Initio Parfums Privés, as well as beauty retailer Douglas and makeup brands bareMinerals, BUXOM, and Laura Mercier.

In a joint statement, Advent, Zimmermann, and Style Capital expressed that Advent's investment will accelerate Zimmermann's expansion overseas, particularly in Asia and the Middle East, while also enhancing its global distribution network, including e-commerce.

Zimmermann's journey began with a booth at the Paddington Markets in Sydney, where founder Nicky Zimmermann, a graduate of the Ultimo TAFE School of Fashion Design, started selling her designs in 1989. A Vogue Australia staff member wearing one of Nicky's Western-style embroidered shirts to work created a sensation, leading to a two-page feature on Zimmermann in Vogue.

This exposure brought forth numerous wholesale orders domestically in Australia, prompting the opening of their first physical store in Sydney's creative and fashionable Darlinghurst neighborhood.

In 1996, Zimmermann made its debut at Australian Fashion Week, and its designs were showcased at the London Harvey Nichols Fashion Week alongside renowned names like Collette Dinnigan, Akira Isogawa, and Alex Perry.

As its reputation grew, Zimmermann's product line expanded from tops and dresses to include denim and full clothing collections. The next groundbreaking move was venturing into swimwear, which Zimmermann presented in a revolutionary way at the time, incorporating swimwear as part of avant-garde fashion. This visionary approach ultimately propelled the Australian brand onto the global stage.

"In the early days, it was a definite turning point as it attracted international media. CNN did a comprehensive feature about us that aired across the United States, leading to a call from a New York agent who saw the coverage," Nicky stated.

"Swimwear was inherently linked with clothing, but in the '90s, it wasn't perceived that way. For some, especially Americans, it was a bit hard to grasp. Many department stores were reluctant to display swimsuits alongside clothing. Our first department store order was from Harvey Nichols in the UK, and they wanted to do something different. They hung our swimsuits alongside clothing in the fashion section. It was a very different concept and evidently effective. We seamlessly integrated the breezy, refined elements of fashion into swimwear."

Subsequently, Zimmermann made its debut at the largest and most significant swimwear showcase globally, the Miami Swim Week.

Turning Zimmerman into an international brand had always been Nicky's aspiration. However, the reality of expanding an Australian brand globally presented its challenges due to the seasonal differences.

If the swimwear innovation marked Zimmerman's initial breakthrough on the international scene, joining the luxury e-commerce platform Net-a-Porter completely accelerated Zimmerman's path to internationalization.

Zimmermann was one of the earliest brands to join Net-a-Porter, at a time when luxury and designer brands were cautious about e-commerce.

"They were just starting out, but were well-known and had a clear blueprint for their business. In terms of global exposure, they were game-changers. They embraced our work, understood it, and genuinely liked it. They had a clear understanding of what our brand is, what our products are, and what we could do for them. So, we were great partners, and they never attempted to change us," Nicky recalled.

"We had to align with the seasons, working entirely according to the Northern Hemisphere's schedule. Once we started selling on Net-a-Porter, we had to unify our sales plans worldwide. We couldn't be selling in Australia at the time while customers in the Northern Hemisphere received our products six months later."

This change proved to be absolutely right. Maria Williams, Net-a-Porter's Senior Swimwear Buyer, mentioned that when they began collaborating with Zimmerman, they primarily purchased their swimwear. However, starting from Zimmerman's 2013 resort collection, "we started taking more risks in our purchases, trying higher price points," particularly in the ready-to-wear category. Zimmerman has since become the best-selling Australian brand on Net-a-Porter.

Zimmerman has also achieved success offline, with 58 boutiques globally, including 22 in Australia, 22 in the United States, and additional locations within top department stores.

Former Editor of "US InStyle," Laura Brown, commented, "For a long time, many brands held fashion shows in Paris to prove that they could embody Parisian style or compete with it. Now, after establishing a highly successful business, Zimmerman showcases the inherent confidence of Australian women in Paris."

Now, with the infusion of capital from Advent, Zimmerman, representing Australian fashion, is poised for further global expansion.