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Australian label Exotic Athletica will officially fold this week after 10 years in business.
A once high-flying Australian activewear brand, Exotic Athletica, is set to close its doors permanently this week, just months after collapsing into voluntary administration.
The Queensland-based athleisure label, which celebrated its 10th anniversary this year, announced on social media that it would officially shut down on Sunday, November 16th, following a failed attempt by administrators to secure a buyer.
Founded in 2014 by Leilani Chandler, who drew inspiration from Brazil’s bold fitness fashion culture, the brand quickly became a hit, particularly during the pandemic-era surge in online activewear sales.
The Queensland-based activewear and athleisure brand collapsed into voluntary administration in April.
The company’s immense popularity was underlined by a previous media report that detailed a single $49.99 crop top generated a staggering $7 million in online sales between April 2020 and April 2021.
However, the rapid growth proved unsustainable. When SV Partners were appointed administrators in April, they released a statement pointing to the challenges faced in recent years.
“In recent years, Exotic Athletica has faced significant challenges, such as changes in senior management and increased operational expenses,” the statement noted.
The company is currently running a 70 per cent off sale in an effort to clear remaining stock before ceasing operations.
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