A review over whether to sell Australian swimwear label Tigerlily has been launched by its parent company Crescent Capital.
The private equity firm has appointed Deloitte to evaluate whether a sale is viable with no decision yet to be made, according to industry sources.
The move 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.
A year later, Crumpler went into administration and was then sold back to its original co-founders Dave Roper and his daughter Virginia Martin in late 2021. Tigerlily is still owned and operated under Crescent Capital.
According to its 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.