They have been denying that they were in financial trouble for much of 2009 but Ksubi have finally shown their cards and placed themselves into voluntary administration. According to reports Ksubi had been “struggling to achieve the margin necessary to fund the growth and development of the brand”. The move to place themselves into voluntary administration was “only way to ensure the future of Ksubi“, Ksubi founders Dan Single and George Gorrow said in a statement.
Like Sass & Bide, Ksubi was one of the Australian denim brands who managed to launch themselves into the international denim market with their edgy jeans in early 2000s. Rumours of Ksubi’s money troubles were put on the back burner when they signed a deal to create a lower priced range exclusively for Australian department store David Jones last October and powered on with a eye wear range and sunglasses collaborations with the likes of DJ TIGI and Kanye West’s Pastelle.