dVT Group have been appointed as voluntary administrators of the Australian Dion Lee Enterprise entities - also known as Australian fashion brand Dion Lee.
Founded in 2009, the unisex brand has six stores in Australia, one in the United States and is sold through 160 outlets globally.
The voluntary administration relates to its Australian based operations, with administrator Antony Resnick and his team working to assess all options in regard to the US business as matter of urgency.
“We are in the very early stages of our administration process and our focus right now is on speaking with the Australian and US-based team and getting across all the relevant operational and financial data,” Resnick said.
“The Dion Lee brand has built global recognition and credibility in the world of high fashion. It is regularly worn by cultural icons and influencers. It is noted in the industry for its unique designs. All of which should attract both local and international investor interest.”
The brand, which in recent years has expanded globally, was started by then Sydney-based designer Dion Lee, who debuted his first major collection at Australia Fashion Week in 2009.
“The Dion Lee brand is one of a handful of Australian fashion labels that has been able to break into international markets in recent years and there is no doubt as to the high creative regard in which it is held,” Resnick said.
“However, until we progress our administration process it is too early to comment in any detail on its current financial position other than to say our intention at this time is to operate the brand as a going concern.”
A full creditors report is being prepared, and a creditors meeting will be put in place in the coming weeks.