Updated ,first published
Australian activewear brand Stax, which was known for its black tights and fleeces, has collapsed and appointed consultants to explore whether the business can be saved or sold to new owners.
FTI Consulting receiver Joseph Hansell said the Perth-founded brand, which has been worn by the likes of pop stars Jennifer Lopez and Lizzo, and actress Megan Fox, said the company had strong customer support.
โStax has done something genuinely impressive, proving that premium activewear does not have to choose between performance and style,โ said Hansell said in a statement
The business will continue trading for now.
Stax was founded in 2015 by South African designer Don Robertson, who started the business out of his motherโs house. It has been valued at up to $52 million.
Robertson, who runs the business with his wife Matilda Robertson, has grown the business by selling limited-edition collections with influencers and celebrities including OnlyFans creator Anna Paul.
Celebrities such as Rita Ora, Haily Bieber, Addison Rae have also been seen wearing the activewear label.
The business relocated to Sydney in 2019 and currently have a team of more than 50 employees. It has an online business, as well as two retail stores in Sydneyโs CBD and Liverpool.
Jessica Yun is a business reporter covering retail and food for The Sydney Morning Herald and The Age.Connect via X or email.From our partners
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