New Zealand clothing company AS Colour has sold a stake to Quadrant, a private equity firm based in Sydney.

The 20-year-old brand has grown to a global operation, boasting 27 brick-and-mortar stores worldwide. 

Reports from the Australian Financial Review claim the stake accounts for 21 per cent of AS Colour, it’s understood to have been purchased from NZ-based private equity firm Direct Capital.

“The business has built an exceptional brand in New Zealand and Australia and is now scaling rapidly in the US, UK and Europe,” Quadrant partners Louis Casey and Marcus Darville said. 

“What sets AS Colour apart is the combination of premium product quality, a direct B2B sales model, a highly efficient supply chain, and – most importantly – an outstanding team and culture that is genuinely passionate about what they do. We see a significant global runway ahead.”

AS Colour CEO, Clive Ormerod, maintained that the business’s ‘home” is in New Zealand.

“This is a strong endorsement of the team and strategy we have been executing,” he said.