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The managers of monogram fashion brand The Daily Edited are looking for a buyer

Monogrammed luxury fashion brand The Daily Edited (TDE) is up for sale after it went into administration last month.

KordaMentha Restructuring is seeking expressions of interest in purchasing the company.

Once valued at nearly $14 million when co-founders, Alyce Tran and Tania Liu, sold a stake in TDE to fashion brand Oroton in 2017, the company has more recently been embroiled in lawsuits following an argument between the pair. In May last year, Tran sold its 50% stake in the company to Liu for an undisclosed amount.

Revenue for the company peaked at $27.54 million in FY18, before declining about $2 million annually to $23.56 million in FY20.

TDE became a cultural phenomenon that sparkled with the celebrity brilliance of Lara Bingle and Hailey Baldwin. It has a flagship store in Sydney’s Queen Victoria Building, plus an online store and purchase through the social media platforms, featuring monogrammed leather products such as diaries, bags, phone cases, wallets and key rings.

Liu placed the company in the hands of Sydney liquidators Chifley Advisory on September 30. But a deal to sell the brand prior to the liquidator’s appointment was subsequently terminated and now the entire TDE business, including stock and IP, is up for sale. .

The liquidator handed over the company on October 28 to Rahul Goyal and Kate Conneely of KordaMentha as voluntary trustees on the grounds that they are able to maximize the value of TDE while ensuring that TDE’s staff remain employed. .

The Daily Edited continues to act.

The trustees held the first meeting of creditors on 9 November and are now focusing on trading TDE’s activities while conducting a sale process.

KordaMentha partner, Kate Conneely, said she expects a lot of interest in the sale from potential buyers looking for a retail business with strong growth potential

“The Daily Edited is already a favorite with fashion-conscious consumers, both at home and abroad. It is known for the quality of its products and beautifully curated shopping experiences, both in-store and online,” she said.

“The foundations for a high-performing boutique fashion business are in place. This is a great opportunity for a buyer looking to build an established brand with loyal and engaged consumers, and set it up for future success.”

Interested parties can submit EOIs to KordaMentha’s Kayne Domanko at kdomanko{at}kordamentha.com

Shreya has been with australiabusinessblog.com for 3 years, writing copy for client websites, blog posts, EDMs and other mediums to engage readers and encourage action. By collaborating with clients, our SEO manager and the wider australiabusinessblog.com, Shreya seeks to understand an audience before creating memorable, persuasive copy.

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