Australian swimwear retailer, Seafolly, is reportedly being eyed by LVMH’s Asia-based private equity firm, L Capital.

Fairfax reports this would be the fourth Australian investment for L Capital Asia, who has previously invested in RM Williams, Jones the Grocer, and sportswear chain, 2XU.

Seafolly is owned by its Australian founders, the Halas family, with Anthony Halas in control of the company.

Founded in 1975, Seafolly has seen recent international success with a push into the US market, where the company is expecting to make 25 per cent of its annual revenue.

Seafolly has revenue of more than $100 million in annual sales from 42 countries.

It is reported L Capital and the Halas family are in late stage talks, with a deal announcement expected before the end of 2014.