Daily Edited co-founder sells stake after two-year court battle
Tran’s last day at the company was Tuesday, when she had a farewell drink with her former colleagues. It is not known if Liu attended.
The Daily Edited made its mark by entering the early stages of the monogram mania in the mid-2010s, promoting the idea that no personal accessory – from suitcases to phone cases and mugs – could benefit from branding. his initials. She ran her own boutiques in Sydney, Melbourne and Brisbane, as well as concessions at several David Jones stores and a thriving online business.
But COVID has dealt the brand a heavy blow, with court documents filed by Ms. Liu showing the brand’s revenue increased from $ 18.74 million in 2016-17 to $ 27.54 million in 2017-18, to drop to $ 25.78 million in 2018-2019 and $ 23.56 million. during the 2019-20 fiscal year.
Tran said she called her years at Daily Edited “the stepping stone in a very long career.”
âI’m a very positive person, so I never want to have bad energy there,â she said, wishing Liu good luck with the future of the business.
Still, Tran says in hindsight that she could have been more open about the lawsuit, especially with company staff. âFor me, it was difficult to maintain a sense of normalcy in the company once [the court action] was really there [in public] – so it made it difficult to manage teams and expectations, âshe says. “I have been very lucky and grateful and grateful that people support me.”
Tran plans to focus on growing his existing homeware business, In the Roundhouse, which has also been involved in the lawsuit over the alleged misallocation of business expenses to The Daily Edited, as well as the launch of new businesses in the field of fashion and beauty. She also works with the US founders of RewardStyle, an affiliate marketing company that collects commissions from influencers who recommend products, to establish the brand in Australia.
âI always vaguely dreamed of having a range of different companies so that I could work with them and do the functions that I found most enjoyable,â she says.
Liu said she was eager to “share my future vision for the business … [and] Carry on [its] growth both locally and internationally in the years to come â.