Ksubi returns to retail with global flagship
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Ksubi is on a fashion comeback with the opening of its global flagship store in Sydney. Located on the prime shopping strip of Oxford Street in Paddington, Ksubi has set up its return to retail within the coveted ‘The Intersection’ shopping hub in Sydney’s inner east
The new boutique adds to the current distribution of Ksubi, which sees its jeans, apparel and accessories stocked inside the store walls of youth fashion retailer General Pants Group, who acquired distribution rights to the brand in 2014.
The new Ksubi store comes after years of financial woes for the Sydney fashion label, after it was rescued twice from administration.
Ksubi was founded as a streetwear label in 1999 by Gareth Moody, Dan Single, George Gorrow, Paul Wilson and Oscar Wright. Known for its impeccable denim cuts and high-octane aesthetic, the label soared to cult status among trend-lead fashionistas for several years and was stocked globally in niche boutiques.
However, in 2010, claims of mismanagement and quarrels internally saw it fumble into administration, and it was sold to clothing manufacturer Bleach Group for around A$5 million.
In late 2013, the Australian fashion label was then placed in receivership again after 14 years in the business, with Bleach Group chief executive Mark Byers blaming challenges in the Asian supply chain. Some 60 staff were fired from the brand’s head office, while its seven stores were also closed.
US-based firm Breakwater Management Group took on Ksubi soon after and at the time said it would focus on the brand’s online sales. Breakwater then inked a distribution agreement with Australian multi-brand retailer General Pants Co in 2014, to sell Ksubi items from its 40-plus Australian stores, thus reviving Ksubi’s brand reach in store.
With the news of the latest Ksubi store in Sydney, no information has been disclosed concerning future store openings for the brand in Australia or overseas. Today, Ksubi is sold in the US, Japan, the UK, and New Zealand and in Bloomingdales in Kuwait.
Questions & Answers
Q.What led to Ksubi's financial troubles before the current comeback?
What led to Ksubi's financial troubles before the current comeback?
Claims of mismanagement and internal quarrels in 2010 saw the brand go into administration. In 2013, it was placed into receivership again, with challenges in the Asian supply chain cited as a reason.
Q.Who currently owns Ksubi and how did they acquire the brand?
Who currently owns Ksubi and how did they acquire the brand?
US-based firm Breakwater Management Group took on Ksubi after its second receivership in late 2013. They then signed a distribution agreement with General Pants Co in 2014.
Q.Does this new flagship store mean Ksubi will open more shops in the future?
Does this new flagship store mean Ksubi will open more shops in the future?
No information has been disclosed concerning future store openings for the brand, either in Australia or overseas, following the news of this latest Sydney store.
Q.How is the new Ksubi store different from its previous retail presence?
How is the new Ksubi store different from its previous retail presence?
This new boutique adds to Ksubi's current distribution, which sees its items stocked inside General Pants Group stores. Its previous seven stores were closed in 2013.
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