New details come to light in the collapse of the iconic Australian fashion retailer after its glamorous founder left the company
- The Daily Edited went bankrupt last year
- Company acquired by BJM
- Creditors owed $2.8 million and will meet on June 20
Creditors of popular fashion brand The Daily Edited meet this month after the label went bankrupt less than a year ago.
The brand, which specializes in engraving customer initials on bags, phone cases and other items, was disbanded after a meeting of company members on September 30 last year.
The liquidation came just over a year after co-founder Alyce Tran quietly sold her stake.
The company has since been bailed out by BJM, which is co-owned by former Myer CEO Bernie Brookes, and continues to operate online and in-store.
A notice posted to corporate watchdog ASIC on Tuesday said creditors will meet on June 20.
Creditors from The Daily Edited reportedly owe $2.8 million, with Ms. Tran claiming to owe $500,000, according to company documents, The Australian previously reported.
Creditors of popular fashion brand The Daily Edited meet this month after the label went bankrupt less than a year ago
ANZ is said to owe $1 million, while the Australian tax office has claimed $218,413 and Vicinity Real Estate has claimed $203,144.
In December, it emerged that The Daily Edited would be bailed out by BJM, which also came to the aid of Colette by Colette Hayman after it went into receivership in 2020.
The accessories label was acquired by BJM for an undisclosed sum, with Mr Brookes saying the company had a ‘great foundation’.
Ms Tran and Tania Liu launched The Daily Edited in 2014 after meeting three years earlier while working at a law firm in Perth.
They then built the company into a $25 million fashion powerhouse with stores in Sydney and New York in addition to their online offerings.
Alyce Tran (right) and Tania Liu (left) launched The Daily Edited in 2014 after meeting three years earlier while working at a law firm in Perth
The former business partners initially started a clothing line in 2011 – but after the company went bankrupt, they turned to blogging.
Eventually, the couple quit their day job as lawyers to start the online leather goods business to provide a service that high-end fashion houses have always done, but in an affordable way.
The TDE brand is known for its focus on individuality and personalisation, reflecting its ‘make it your own’ ethos.
The expansion saw it sell personalized leather goods in-store through a partnership with David Jones, in Sydney, Melbourne, Adelaide and Brisbane.
The company opened stores at Chadstone Shopping Center in Melbourne, Pitt Street Mall in Sydney’s CBD and on Bleecker Street in New York.
It then opened a flagship store in the Queen Victoria Building in Sydney’s CBD in 2021.
The Daily Edited became a household name for offering personalized accessories at affordable prices
Alyce Tran (right) and Tania Liu (left) initially started a clothing line in 2011 – but after the business failed, they turned to blogging
Several well-known faces have collaborated with the brand in the past.
Hailey Bieber collaborated with The Daily Edited in 2016, promoting a collection labeled #theHAILEYedited.
In 2017, movie star Sylvester Stallone’s three daughters, Sixtine, Sophia and Scarlet, were featured in the #MeetTheStallones campaign to promote a new collection for TDE.
TDE reportedly earns more than $20 million a year in sales and has approximately 35 full-time employees.