Seafolly plans for expansion in U.S. for the next three to four years

Los Angeles - Seafolly, Australian-based swimwear line, recently confirmed plans to expand in the U.S.

The lifestyle swimwear line has been in expansion mode since it was acquired by L Capital Asia, LVMH Moet Hennessy Louis Vuitton's private equity arm. The company recently added two new hires based for their U.S. plans. The label hired Kenton Selvey as Seafolly’s first U.S. president and Matt Hayward as the new marketing director. Both of the new hires are based in SoCal and will work out of Seafolly’s newest Los Angeles headquarters. The date for the headquarters opening is not yet released. Selvey’s past experience includes presidency of the Joseph Abboud Brand Group and Hayward previously worked at Deckers Asia-Pacific. According to WWD, chief executive officer Anthony Halas states that the company’s goal is to double its 2015 fiscal years in sales of 140 million Australian dollars. The exchange rate equals approximately 108.10 million U.S. dollars. Currently, the brand has grown at 60 percent for the last two years. “We think there’s a good opportunity for a good 50-plus-plus U.S. stores over the next three to four years,” Halas told WWD.

The swimwear lifestyle brand has been established since 1975. The Australian label offers simplistic, solid color suits as well as tropical, vibrant pieces. Although known mostly for its womenswear and swimwear, Seafolly also offers apparel available for juniors and kids. The stores sell pieces including cover-ups, apparel, swimwear, accessories, and more. The brand’s merchandise ranges in price depending on the item of clothing. Bottoms retail for about 70 dollars while top pieces typically cost near 100 dollars.

Earlier this year, the brand has opened three retail locations in the U.S. The brand’s first store opening was two years ago at Fashion Island located in Newport Beach. Currently the company mostly has concept stores based in various parts of Australia. Altogether Seafolly operates in approximately 10 concept stores.