Infamous Swim secures $1 million funding after restructuring

Infamous Swim, the original mummy-and-me swimwear brand, has secured backing of approximately $1 million from a group of entrepreneurs in the tech, e-commerce, fashion, and communications sectors. The investment comes after the brand went through voluntary administration earlier this year and has since been restructured with a new company structure and new directors.

Transaction snapshot

  • Deal value: Approximately $1 million
  • Deal multiples: N/A
  • Deal type: Angel round
  • Investors: Alex Macpherson (tech CEO), Brad Down (startup investor), Mary Ioannidis (Australian fashion designer), Matt Child (commercial director), and Greg Campbell (growth-focused operations and information security specialist)

Founder Gemma Crowe remains the CEO of Infamous Swim and will continue to lead the business. The new investment and ownership structure follows an unsuccessful attempt to raise $600,000 on crowdfunding platform Birchal in late 2023, which only raised $400,000 before the money was returned to investors.

Crowe stated that the $400,000 raised through crowdfunding was insufficient, and the brand needed at least $600,000 to stabilise its future direction. The decision to bring on external investors with expertise was made to take Infamous Swim further.

The brand has a strong customer base, having sold more than 756,000 swimsuits to over 440,000 people in Australia since its founding in 2018. Infamous Swim has 674,000 Instagram followers, more than 123,000 followers on TikTok, and an email and SMS database of over 440,000 customers.

According to ASIC, administrators were appointed to Infamous Swim on February 9, 2024. The voluntary administration process unexpectedly continued to liquidation. Crowe and the new investors worked to ensure the brand, business, and staff could emerge as one, rather than being disbanded or sold off in parts. Crowe and Macpherson developed a re-capitalisation and operational strategy, and the investment partners successfully bid at the liquidation auction.

Crowe emphasised the importance of having a support network of mentors and confidantes to help navigate tough periods. She also cautioned business owners about taking on short-term business loans, particularly from tier-two or revenue share lenders, as they can cause cash flow issues due to high interest rates.

The brand is now focusing on extending its size ranges to size 24/26 and exploring opportunities in activewear. Crowe is excited about the road ahead and the plans for Infamous Swim, with a focus on ensuring the company's finances and operations are configured efficiently to withstand external challenges. The restructuring has allowed Crowe to focus on her strengths while being supported by an experienced team, positioning Infamous Swim to scale up smoothly on its journey to becoming one of Australia's most established legacy brands.

📌 if you're looking to learn more about how to go about your own exit, or would like to learn more about the M&A landscape in Australia, click here to book in a free confidential consultation.

Back to blog