“KSUBI RE-STRUCTURE COMPLETED: BACK TO BUSINESS
The new Directors of ksubi Pty Ltd today announced that the re-structure of the business operations has been completed.
In January 2010 ksubi entered into Voluntary Administration through Grant Thornton in an effort to re-structure and consolidate the denim fashion label’s business. This process is now complete.
The company is now controlled by a consortium of industry-experienced management including ksubi investor, Harry Hodge, ksubi founders, Dan Single and George Gorrow and shareholders of Bleach Pty Ltd.
Australian based Bleach Pty Ltd are the owners of one of surf’s leading street wear brands, Insight, and fashion brand Something Else. Bleach is also a renowned strategic supply chain expert of apparel and fashion accessories.
Harry Hodge has been appointed Executive Chairman of ksubi Pty Ltd. Joining him on the Board of ksubi will be Bleach CEO Tim Grainger and Bleach CFO Mark Byers. The remaining Board Members will be appointed at a later date.
“The new business model will allow ksubi to focus on the creative development of the brand whilst leveraging the significant production strength of the Bleach group.” Hodge commented.
Co-founders Dan Single and George Gorrow will continue in their roles as the Creative Directors of ksubi.
“The past year has been very difficult, this new business model with experienced management is what ksubi has always lacked. Both Dan and I have never felt more inspired and positive about the brand. We have already experienced a huge change. With the right funding and great management we are experiencing the creative freedom that will allow ksubi to grow,” said George Gorrow.
The new ksubi apparel range “Speed bomb metal mom” is in store now in 22 countries around the world and nationally at General Pants, David Jones, selected boutiques and ksubi stores.
In 2009 ksubi signed a worldwide footwear licence with “Six London” The new ksubi footwear range be available in all ksubi and David Jones stores in Australia and selected department stores and boutiques world wide from March.
Sunshades Pty Ltd signed on for the worldwide licence for ksubi eyewear in April 2009 and the new ksubi optical range will be available in optometrists and selected boutiques globally this March.
T + 61 2 8373 8601
T + 61 2 8373 8601