It’s a fashion label beloved by A-listers, including Margot Robbie and Kate Middleton, and now Zimmermann has cemented its place among the world’s top fashion labels after a 70% stake in the company was sold to private equity firm Advent International for an undisclosed amount. The deal is believed to value the luxury brand at $1.5-1.75 billion, making it Australia’s most valuable fashion brand (which is a long way from Sydney’s Paddington Market…). Co-founders/sisters Nicky and Simone Zimmermann will retain a 30% stake, bringing their joint net wealth to $615 million – up from $340 million in March. Since 2020, the brand has rapidly expanded throughout the US and Europe, and there’s speculation that a China-Middle East launch is on the cards. And Advent’s other investments include cosmetics and fragrances, so keep your nose out for Eau de Zimmermann…