Stylerunner enters voluntary administration
Image: Instagram user stylerunner
With the athleisure trend thriving, why did Aussie retailer Stylerunner just go under?
Another one bites the dust – Stylerunner has just entered voluntary administration. As of Wednesday 23 October, founder and CEO of the company Julie Stevanja appointed Andrew Schwarz and Matt Adams of AS Advisory as administrators. This is according to documents lodged with the Australian Securities & Investments Commission (ASIC).
With the huge growth of the athleisure market, you would think Stylerunner would be thriving. That was the case in 2017 – the business was worth $30 million, even putting Stevanja on the Young Rich List that year. Unfortunately, it seems like things took a turn for the worst with the competition really heating up in the activewear space.
Retailers like THE ICONIC provide you with all the biggest brands in one place. With fast shipping and constant sales, it's become a real leader, completely transforming the activewear space. On the other hand, fellow Aussie brands like P.E Nation have really focused on developing fashionable clothing pieces that you can work out in and run errands in – and it's worked. All of these factors combined have unfortunately led to voluntary administration for Stylerunner.
Stylerunner was founded in 2012 by twins Julie Stevanja and Sali Sasi. Sali left the business in 2015, so Julie has been running it on her own for the past few years. It was a successful multi-million dollar business, offering fashion-forward sportswear, shoes, accessories and even wellness products. The online activewear retailer stocks major brands like Nike, adidas, PUMA and Under Armour.
As of today, Stylerunner hasn't addressed the news on the online site or on the brand's Instagram.
In the meantime, if you love athleisure, check out our round-up of the coolest activewear brands on the market and where you can buy them.