Stax Names New CEO and Issues 1.7 Million Dollars in Customer Credit
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Australian activewear label Stax will relaunch online on November 6. The business is offering 1.7 million Australian dollars in store credits to settle 13,000 orders stranded by its collapse. A private syndicate led by Pushas founders Justin Truong and Sandy Li-Truong bought the brand assets after Stax collapsed with more than 24 million Australian dollars in liabilities.
Former Turo marketing director Anna Cheng steps in as chief executive officer to run the restructured direct-to-consumer business. Former head of product Georgia Bachmann returns as creative director alongside lead designer Jaclyn Benson. Customer service staff completes a lean team of 10 employees.
Converting stranded orders to store credit
Reviving the brand hinges on resolving customer backlash from late June. At the time, the original company took payments until lender National Australia Bank appointed receivers from FTI Consulting. Under the recovery plan, Stax is granting full credit balances to affected buyers without assuming formal legal liability for the old entity’s debts.
Management retrieved transaction records from Shopify and past vendors, emailing affected buyers in late September to confirm balances. Around 8,500 customers have verified their details so far. Remaining shoppers have until December 31, 2026, to confirm accounts. Issued store credits will remain valid until June 30, 2027.
Orders placed through third-party financing platforms are excluded from the internal credit ledger. Shoppers who used Afterpay, PayPal, Klarna, or Zip must seek resolution through provider buyer-protection programs. Stax customer service agents will supply purchase records to support those claims.
Lean operating model and new leadership
Cheng’s appointment establishes an independent management tier apart from Pushas, the sneaker marketplace operated by the Li-Truongs. Her primary focus is tightening fulfillment controls. Supply chain delays and inconsistent production quality damaged customer retention during the label’s prior expansion.
“The digital storefront resumes trade at 9am on November 6 with the Girls Gone Wild collection.”
Bachmann oversees design and inventory architecture after managing product lines during the brand’s peak valuation period. Her team is consolidating suppliers. The push aims to shorten production cycles and ensure consistent garment sizing across manufacturing batches.
Relaunch collection and product lineup
The digital storefront resumes trade at 9am on November 6 with the Girls Gone Wild collection. Registered waitlist members receive early access on the evening of November 5.
Core proprietary textiles return with the range, including high-compression Nandex and lightweight Airlyte fabrics. Sizing spans Australian sizes 4 to 24. Updated garments will also feature a wider, bolder logo as part of the visual repositioning.
Navigating brand trust in direct-to-consumer fashion
Don and Matilda Robertson founded Stax in 2015, pivoting from a bankrupt sports supplement venture into apparel that reached a 52 million Australian dollar valuation by 2022. Aggressive physical store expansion, high commercial rents, and falling discretionary retail spending triggered a cash crunch. The company entered receivership in June.
Across the Asia-Pacific region, the bailout serves as a test case in rebuilding consumer trust after insolvency. Offering store credits rather than leaving shoppers as unsecured creditors represents a direct customer acquisition cost. The strategy aims to convert burnt shoppers into repeat buyers.
Customer account verifications remain open through December 31, 2026, ahead of redemptions running into mid-2027.
Questions & Answers
Q.How can customers who paid via buy-now-pay-later services or PayPal recover their money?
How can customers who paid via buy-now-pay-later services or PayPal recover their money?
Shoppers who used Afterpay, PayPal, Klarna, or Zip are excluded from the store credit scheme and must pursue claims through those providers' buyer-protection programs. Stax customer service agents will supply transaction records to support those individual recovery claims.
Q.What deadlines apply to affected customers claiming and spending store credits?
What deadlines apply to affected customers claiming and spending store credits?
Affected shoppers have until 31 December 2026 to verify their accounts and confirm their balances with the company. Once issued, the store credits remain valid for redemption until 30 June 2027 across the online store.
Q.What caused Stax to collapse into receivership earlier this year?
What caused Stax to collapse into receivership earlier this year?
The label entered receivership after an aggressive expansion into physical stores, high commercial rents, and falling discretionary retail spending triggered a cash crunch. The original business collapsed with more than 24 million Australian dollars in total liabilities before its assets were acquired.
Q.What operational changes is the new management team implementing?
What operational changes is the new management team implementing?
Chief executive Anna Cheng and creative director Georgia Bachmann head a lean ten-person team focused on tightening fulfilment controls. The business is consolidating suppliers to shorten production cycles and ensure consistent garment sizing across manufacturing batches.