Australian Rich Lister couple’s popular activewear brand Stax on the brink of collapse

A multi-million dollar activewear brand adored by A-list celebrities is on the brink of collapse after it was placed into receivership.

Stax, which was founded by Rich Listers Don Robertson and Matilda Murray, appointed receivers and managers on Wednesday.

The activewear brand began in a Perth bedroom in 2015 and experienced a stratospheric rise over the next decade.

Its worth peaked at around $52million, putting the couple on the 2022 Young Rich List. 

Stax once operated eight stores, but was forced to close six of them in 2025 due to rising interest rates.

It now has two boutique venues in Sydney and Liverpool and operates online.

‘Stax is a well-known Australian brand with strong customer support,’ FTI Consulting receiver Joseph Hansell said.

‘Stax has done something genuinely impressive, proving that premium activewear does not have to choose between performance and style.

‘The business is trading as usual while the receivers undertake an urgent assessment of the company’s operations.’

Stax was born out of the spare room in Mr Robertson’s mum’s house where they packed orders for months before moving to Ms Murray’s dad’s house and worked from the living room.

For the first couple of years Mr Robertson was crippled by the fear of failure that lingered in the back of his mind but he was determined to succeed.

‘It was truly tunnel vision and I had to figure out a way to make it work rather than focusing on the massive sum,’ he said in an interview with Daily Mail in 2022.

The couple took ‘every opportunity’ to show off the brand in public spaces by working with local influencers, taking photos outdoors and selling stock at local markets – all while working full-time.

The duo couldn’t afford to hire professional models and gifted the products to local influencers to share photos on social media.

‘Word of mouth travels quickly in Perth and we honed in on a modest approach of making one sale rather than selling out an entire collection,’ Ms Murray said.

Mr Robertson, who designs the pieces, said Ms Murray joined the brand at the ‘perfect time’ and adds a feminine touch to the business.

Seeking a new opportunity to grow the brand further, the duo moved to Sydney in February 2019 and started operating out of their small rented apartment.

‘We were a couple kids from Perth who had no idea what we were doing and considered Sydney to be place where “everything happens”,’ Ms Murray laughed.

The company drew strong support from around the world, with US celebrities such as Jennifer Lopez, Lizzo and Megan Fox praising the clothes.

Rita Ora, Hailey Bieber and Addison Rae are also among the high-profile customers who have worn the clothes. 

Stax will continue to trade as receivers assess the company.