February 26

Activewear model Stylerunner is saved from the brink of smash

By Fitness Blog

February 26, 2022


A $50million activewear model has been saved from smash simply weeks after the corporate introduced it was going into administration. 

Stylerunner, which was based in 2012 by Australian twins Julie and Sali Stevanja, was bought for an ‘undisclosed sum' to Accent Group Limited on Tuesday. 

The sisters, who're each 38, introduced their firm had gone into administration on October 23 – a 12 months after they claimed the enterprise was making $50million yearly. 

The sale was welcomed by prospects who have been assured that reward vouchers and orders can be honoured. 

Online retailer Stylerunner was based in 2012 by Aussie twins Julie (proper) and Sali (left) Stevanja, each 38

The 38-year-olds introduced their firm had gone into administration on October 23 (Sali (left) Julie (proper))

Andrew McCabe of Wexted Advisors and Chris MacDonnell of Restructuring Solutions, sought out a purchaser for the struggling enterprise and are happy with the consequence.

‘Customers can be relieved the model has been saved – the director (Julie Stevanja) continues to be on board and can proceed to guide her staff,' Mr McCabe advised .

‘…so it is going to be enterprise as traditional, however now with the assist of a listed firm with deeper pockets.' 

Accent Group CEO Daniel Agostinelli mentioned the acquisition was an ‘thrilling alternative' for Stylerunner and his firm. 

‘The Stylerunner acquisition represents an thrilling alternative for Accent Group to increase its attain into the rising girls's activewear and wellness market in Australia, and globally,' he mentioned.

‘Activewear is a method development that isn't slowing down and we plan to encourage its momentum via strategic strikes like this one.'

Stylerunner (clothes pictured) -within three weeks of asserting their administration, the corporate was purchased out by Accent Group Limited

Stylerunner sells a wide range of health clothes, sneakers, equipment, and wellness merchandise.

Sali exited the enterprise in 2015, leaving her sister to be named in 87th place within the AFF Young Rich record two years later with a web price of $30million. 

Julie Stevanja was the only proprietor till exterior buyers just lately took a 59 per cent share, leaving Stylerunner valued at $8million. 

During the primary three years of enterprise, Stylerunner grew by 1736 per cent.

Many abroad firms have closed store in Australia within the final 12 months, together with massive identify manufacturers Espirit, Ziera sneakers, Karen Millen, and Ed Harry. 

Earlier this month movie star chef Shannon Bennett's burger chain, Benny Burger, was additionally positioned into administration, adopted by seven Red Rooster shops throughout Queensland. 

Daily Mail Australia has contacted Stylerunner for remark.  

During the primary three years of enterprise, Stylerunner (web site pictured) grew by 1736 per cent

 

 

 

 

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