Tigerlily has fallen into voluntary administration as a result of COVID-19
Source: Tigerlily Instagram
Tigerlily has gone into voluntary administration and seriously, just cancel 2020.
Today, the news was announced that beloved and iconic Australian brand Tigerlily has gone into voluntary administration. The swimwear and beachwear brand fell into voluntary administration on Monday just four months after a huge rebrand.
Tigerlily's administrator, Scott Langdon, said COVID-19 was a "core reason" for Tigerlily's collapse. They saw a vast decline in sales once the virus was announced as a pandemic, which sounds very similar to the reasoning behind kikki.K's collapse in March.
"There was limited foot traffic through shopping centres and therefore sales," stated Langdon.
The brand has almost 30 stores Australia-wide, a global online store, annual sales of $35 million and wholesale partnerships with brands such as David Jones and Bloomingdales.
On Instagram, Tigerlily boasts 329K followers but according to socialblade.com, its page loses 1,020 followers each month.
In November, Tigerlily relaunched with a rebrand that included a new logo, packaging and website. It also included a new range designed by head designer Lesleigh Jermanus, which was due to hit stores in April.
Langdon stated that they will continue to produce and sell the iconic range of bikinis and beachwear but that we should expect some store closures.
However, with coronavirus shutdowns happening across the globe, we can probably expect the list of store closures to lengthen and brands to fall victim to a decline in retail shopping.
Main image: Supplied