Update Tuesday July 16, 2024: Dion Lee is on sale with between 40 per cent and 80 per cent off the entire collection both in-store and online. Prices start as low at $19.
Local designer label Dion Lee has entered voluntary administration, bowing to economic pressures.
Antony Resnick of insolvency firm DVT has been appointed as administrator. Speaking to the sydney Morning Herald, Resnick said it was âtoo early to comment in any detailâ but that âour intention at this time is to operate the brand as a going concernâ.
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Cue, which acquired a major stake in the company in 2013, recently pulled its investment to focus on its other labels. The loss of Cueâs funding is reported to have had a significant impact on Dion Lee. There have been signs the fashion house was looking to diversify and shore up support from other markets. It missed last yearâs New York Fashion Week (where Lee has been exhibiting for the last decade) in favour of a Shanghai Fashion Week debut that would have improved the brandâs standing in the Asian market.
Resnick said he was âassessing all optionsâ in relation to the US business and will be preparing reports…
