The Daily Edited, an expensive Australian clothing brand, is going out of business.
Less than 18 months after one of its co-founders left the business, a popular Australian luxury fashion brand took a huge hit.
A well-known Australian luxury clothing brand has officially gone out of business just 17 months after one of its co-founders left.
The Daily Edited (TDE), which has more than 332,000 followers on Instagram, decided at a meeting of its members on September 30 that the company should end.
The business got a lot of customers by selling personalized leather accessories like wallets, bags, phone cases, key rings, and travel items.
Alyce Tran and Tania Liu, who started the company in 2011, built TDE from the ground up.
The business started out as a lifestyle blog and fashion label. In just three years, it changed into an online store that sells leather goods.
It became so popular that two lawyers in Perth had to quit their day jobs because there was so much demand.
Through a partnership with David Jones, they were able to sell their goods in stores in Sydney, Melbourne, Adelaide, and Brisbane. TDE also had stores on its own in Melbourne, Sydney, and even New York.
Its flagship store in Sydney's CBD, in the Queen Victoria Building, just opened last year.
TDE worked with celebrities like Hailey Baldwin, Sistine, Sophia, and Scarlet, Sylvester Stallone's daughters, Amber Valetta, and Laura Bingle for its campaigns.
But cracks started to show when it came out that Ms. Liu had filed a lawsuit against Ms. Tran in 2019 in the NSW Supreme Court.
Ms. Liu said that Ms. Tran used thousands of dollars from the company to pay for her own personal expenses and other business ventures.
Before she sold her half of the company in May of last year, Ms. Tran denied the claims.
The details of this sale were not made public, but it ended the legal battle between the two people.
After more than a year, TDE has gone bankrupt and Gavin Moss from Chifley Advisory has been named as the liquidator.
The business has been promoting its products on its Facebook and Instagram pages. This is because even after going bankrupt, businesses can still trade.