Politicians and economists alike have been crying wolf when it came to early signs of a boom period. However, it seems unlikely given the demise of acclaimed fashion brand Josh Goot who have now gone into voluntary administration. It is a sad fact of the times, as many large conglomerates including LVMH have scaled down their growth ambitions, while other Australian labels such as Ksubi, Lisa Ho, Kirrily Johnston and Bettina Liano have suffered the same fate as Goot.
The Australian fashion house has dressed celebrities and fashion purists alike including Kim Kardashian and Lara Bingle, with Mia Wasilkowski wearing a pre-fall original at the recent AACTA awards in Sydney. The brand certainly has a celebrity following and has around 20 international stockists but in light of recent events, it seems they will be scaling down operations. But there is hope for the company, as Goot was not reticent stating “we’re confident that we can emerge from the voluntary administration as a better business“.