One of the founders of the privacy phenomenon, The Daily Edited (TDE), is in liquidation after eight years.
The brand has continued to trade, with the remains of TDE Pty Ltd now in the hands of Sydney liquidators Chifley Advisors, which was appointed after voting to reform the business at a meeting on September 30.
TDE began life as a blog in 2011. and key rings. Flashes of celebrity from the likes of Lara Bingle and Hailey Baldwin became a cultural phenomenon embraced by young women.
Just three years later, in 2017, they sold a 31 percent stake in heritage fashion brand Oroton for $4.5 million. The next year, they bought it for less than half the price, paying $2.2 million.
The business’s revenue peaked at $27.54 million in FY18 before declining around $2 million to $23.56 million a year.
The business has seen success in online and brick-and-mortar retail with David Jones opening TD stores in New York, Chadstone shopping center in Melbourne in 2018 and last year, after stumbling on a 2021 winter lockout store in Sydney. In the Queen Victoria building.
But five years after the adventure began, the relationship between Tran and Liu fell apart, and Liu’s former lawyers in 2010 In early 2019, she launched legal proceedings in the NSW Supreme Court over allegations that Tran, the company’s founder, had misused her personal expenses. Home maintenance and other business needs.
In 2018 Tran structured furniture brand in Roundhouse.
Tran denied the allegations and filed a claim against Liu, but the case ended abruptly in May 2021 when Tran sold 50% of the business to Liu for an undisclosed sum.
While the last couple of years have been tough for the retail sector in general, the Daily Edit CEO and sole director Tania Liu appointed MAXMEDIALAB as the company’s communications and influencer agency in November last year, looking positive.
“The team is passionate about continuing to elevate The Daily Edit as we transition to a new brand refresh and approach for 2022,” she said at the time.
Chifley adviser Gavin Moss was appointed as liquidator on September 30 following the sale of the company’s business.
The daily edit continues to trade.
A spokesperson for Chifle Consulting said that in the first meeting with the director of TDE, he cited the pandemic and competition as reasons for the company’s problems.
Moss has not yet worked to investigate the financial affairs of the company and verify the information provided by the director.
A Chifle Adviser spokesman said: “The liquidator will investigate the above matters and report to all of the company’s creditors, as well as ASIC, to inform them of the outcome of the investigation.”
