Prepare your heart to break a little. Josh Goot’s eponymous line is going into voluntary administration, in a bid to save the business he founded over 10 years ago.
Goot revealed in a statement (via The Australian) that the company needs “to take some time to restructure to protect the long-term interests of the brand and all involved,” but has not pinpointed any specific challenges that the label is facing.
He did, however, admit that there were “well-documented external factors at play within the domestic industry” including the Australian dollar, domestic production costs, and international competition.
But unlike recent fashion-label casualties like Lisa Ho and Kirrily Johnston, Goot has been able to keep his label’s head above water during the toughest of times in our fickle landscape. “The retail market has witnessed a prolonged downturn since the GFC in 2008 and we are proud that we have been able to sustain and grow the business throughout the challenging period, while manufacturing exclusively in Australia,” he said.
Goot’s also hinting at many more years of dressing his devoted customers, like his girlfriend, Vogue Australia fashion director Christine Centenera, Lara Bingle and Kim Kardashian, in his label’s sought-after digital prints, sharp cuts and luxurious fabrications. “We’re confident that we can emerge from the voluntary administration as a better business,” he said.
“We are (as a brand), I think, unique in the Australian landscape and that doesn’t necessarily make our experience easier, but I also think that it does give us a real future and that’s what we’re going to be working to secure,” he added.
As for the upcoming collections, business is going about as usual with the Autumn 2015 collection launching next month (look out for it at tonight’s David Jones fashion launch) and design and production for Spring 2015 in the works.
We’re crossing our fingers for a speedy recovery, because our wardrobes just won’t be the same without a little Josh Goot injection.
[Via The Australian]