kikki.K founder Kristina Karlsson will stay on as shareholder and leader of the business.
The Australian design retailer was placed into voluntary administration in March, blaming external pressures such as Brexit and social unrest in Hong Kong.
A partnership with US-based EC Design will see kikki.K continue to trade online, in addition to a selective retail footprint of 30 stores.
The business partnership terms with the preferred party, EC Design, were inked on paper on July 30, which will see kikki.K effectively remain an independently-run business.
Karlsson and her partner Paul Lacy will remain as shareholders and leaders.
“It’s been such a challenging time these last few months for so many people, and all of us at kikki.K were no exception," she said.
"We really got caught in a perfect storm leading to voluntary administration, but our dream to do something meaningful in the world via kikki.K has been so strong we’ve done everything we can on behalf of all stakeholders.
"It’s a great feeling to come through it with a brilliant result in the circumstances and with the overwhelming support of creditors."
CEO Lacy said he is aware of the implications for brand partners.
"Kristina and I remain very conscious that a lot of stakeholders who have been strong supporters have been impacted, so it’s very much a bitter-sweet moment for us.
"The consolation is that by finding a way for the business to survive we now have the opportunity to rebuild, and in the process make-good in any ways we can with people impacted, in particular the eco-system of great suppliers and landlords we’ve partnered with for many years."
Erin Condren CEO Tonia Misvaer said the company is committed to its financial future.
"We look forward to working with everyone at kikki.K through this restructuring process and returning the brand to profitability."
kikki.K closed its bricks and mortar stores amidst the COVID-19 pandemic, but has since opened and is currently trading select stores outside of Victoria.
The partnership will see at least 25 stores continue to trade across NSW, VIC, ACT, QLD, WA and SA, and two in New Zealand. One store continues to operate in Singapore and two in Hong Kong.
The partnership has allowed the business to re-employ and re-deploy close to 250 team members.