Australian fashion brand Bassike announced on Friday that co-founder Mary Lou Ryan would leave the business.
Documents filed to ASIC on July 17 showed a cessation of office holders, leaving creative director Deborah Sams as the sole shareholder of the business.Ms Ryan’s exit is the third major departure of a fashion founder in recent months. In March, Claire Greaves announced she was leavingexclusively. “ Lou and I did a great job of working together for 18 years, and built an incredible brand that we are very proud of. But there is a natural cycle to these things.
Ms Sams confirmed that Ms Ryan would not be replaced in her role as director of sustainability and supply chain, and that the current management structure, including longtime CEO Billy Voss, would remain the same. Bassike, founded by Ms Sams and Ms Ryan in 2006, has 80 employees and a network of eight retail stores. Revenue is estimated at $21 million annually. Bassike was once a fixture at Australian Fashion Week, last showing in 2022.“Wholesale is volatile,” she said.
Instead, Ms Sams said she was focusing on Bassike’s retail stores and website. “Bassike is a business that tends to thrive during downturns,” she said. “Our retail stores are trading very well.”This year, Dion Lee and Tigerlily entered voluntary administration, and sustainable brands Arnsdorf and Nique closed their doors. Internationally, The Vampire’s Wife and Mara Hoffman announced their closure, and wholesalers MatchesFashion collapsed.
“I don’t spend my time looking at what other brands are doing,” said Ms Sams. “There are brands that are doing well. They have incredible product and strong DNA. We focus on our customer alone.”is the fashion editor, based in Sydney. She writes about lifestyle including the arts, entertainment, fashion and travel. Lauren has worked as a features editor and fashion journalist for ELLE, marie claire and more.