Australian swimwear label Tigerlily has 11 interested parties reviewing the business, industry sources reveal.
It is understood that bids are due next week, with the sale process to continue into 2024.
Industry sources also claim the swimwear brand has had a bumper Black Friday and Cyber Monday trade, and is operating as usual despite the sale process.
The latest update comes after Tigerlily’s parent company Crescent Capital launched a review into whether to sell the Australian label.
The private equity firm appointed Deloitte to evaluate the sale.
This comes three years after the brand fell into administration as COVID-19 emerged, and six years since the brand was bought by Crescent from Billabong.
In July 2020, Tigerlily’s assets were then synergised alongside Australian bag business Crumpler - another subsidiary to Crescent Capital - which lent operational and resource support to the swimwear brand.
Both entities shared office, IT and warehousing functions, which helped to increase operational efficiencies and reduced costs for Tigerlily.
According to its e-commerce website, Tigerlily operates nine stores and one outlet across Australia. It also has over 65 stockists across Australia and New Zealand and is sold via The Iconic and at Myer.