- Australian franchise Dion Lee enters liquidation
- An important partnership agreement was cancelled
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Australian celebrity fashion brand Dion Lee owes $35 million to creditors after filing for liquidation.
The high-end line was a favourite of global superstars including Taylor Swift and Dua Lipa and went into voluntary administration in May after a partnership deal fell through.
On Thursday evening, creditors opted to liquidate the business after failing to receive any “acceptable” offers to buy the brand.
The stores will close at the end of September and beginning of October.
Antony Resnick, liquidator of the insolvent company dVT Group, has been appointed as administrator of the brand.
“The second creditors’ meeting heard that while there had been interest from potential buyers of the brand, no acceptable offer had yet been received,” the liquidators said in a statement to news.com.au.
Major clothing brand Cue Clothing Co. has reportedly ended its partnership agreement with Dion Lee and also cancelled its investment in the business. The Australian.
Cue Clothing Co. became a partner with Dion Lee more than a decade ago and the company was also a shareholder in the business.
The Australian franchise of fashion brand Dion Lee has collapsed following the collapse of a major partnership deal (pop star Taylor Swift, centre, wore a Dion Lee crochet corset top at the Super Bowl in February).
On Thursday night, creditors opted to liquidate the business after failing to receive any “acceptable” offers to buy the brand (pictured, Australian superstars Kylie and Dannii Minogue wearing Dion Lee as they performed at the inaugural Sydney World Pride Concert in 2024)
Daily Mail Australia has contacted Dion Lee for comment.
The company recently gained new prominence after pop star Taylor Swift wore a $650 Dion Lee crochet corset to the Super Bowl while cheering on her boyfriend Travis Kelce.
The clothing brand was founded by eponymous designer Dion Lee in 2009.
The stores will close in late September and early October (pictured, internet and TV personality Tully Smyth wearing Dion Lee on the catwalk at the Melbourne Fashion Festival in March)
The clothing brand was founded by Australian fashion designer Dion Lee (pictured) in 2009.
Since then, the company has grown exponentially, with six outlets in Australia and 160 stores worldwide, including a store in the United States that opened in December last year.
Mr Lee, 38, has also collaborated with Kanye West on a shoe collection and designed clothes worn by pop star Dua Lipa.
Some of the accessories sell for as much as AUD$990.