Popular multi-million dollar empire quietly launches huge closing down sale: ‘Another one bites the dust’

A popular fashion accessories empire has quietly launched a massive closing down sale after years of turmoil – including entering voluntary administration and a bitter legal dispute between its co-founders. 

The Daily Edited (TDE), best known for its monogrammed handbags, wallets, phone cases and travel essentials, was bought out of liquidation in late 2022 after being rescued by the owner of the accessories chain Colette by Colette Hayman.

However, in recent days, the multi-million dollar celebrity-loved brand announced its shock closure with a ‘final call’ on a huge online sale offering up to 80 per cent off everything. 

‘Closing down sale. Final days. Everything must go,’ the post read. 

Fans of the brand are devastated by the news, with many saying they were unaware of the unexpected closure until they randomly stumbled across the sale posts on social media.

‘It makes me so sad because I love The Daily Edited. It’s a very sad time,’ customer Tenielle Hamlin said in her video about the sudden closure. 

‘Oh no. Another one bites the dust,’ one shared. 

‘This was peak era for the 21st season,’ another revealed, along with a crying emoji.

Many loyal customers reminisce about how TDE was part of their lives growing up, with one saying: ‘I have a travel wallet from them and have had it for about seven years now, still perfect condition and I love it.’

‘I remember they were great for giving gifts to my girlfriends,’ one recalled.

‘So sad, most of my bags are from there. Although, mine are from when the original owners had it,’ another shared. 

According to social media, it was business as usual for TDE, with picture-perfect posts of its fashion accessories items being shared on the feed up until May 7.

The brand began quietly announcing its ‘sitewide flash sale’ on Facebook from May 9, starting with deals of up to 70 per cent off.

Alyce Tran and Tania Liu founded The Daily Edited in 2014 after meeting three years earlier while working at a Perth law firm.

The brand was known as the first in Australia to offer personalised initials on handbags, wallets, phone cases, beauty bags and more. 

The friends went on to build the business into a fashion powerhouse, turning over an annual $25million, with stores in Sydney, Melbourne and New York in addition to their online offering.

In 2021, Ms Tran quietly sold half her stake in the company – two years after Ms Liu took her her court over claims she had misused company funds.

However, Ms Tran denied any wrongdoing. 

A year later, TDE went into liquidation before ultimately being saved from collapse.

But Marquee Retail Group (MRG) – the parent company which owned Colette and The Daily Edited – went into administration in April 2024 amid declining sales.

After a two-month voluntary administration, MRG, led by former Myer chief executive Bernie Brookes, retained The Daily Edited as an online-only brand.

Daily Mail Australia has contacted The Daily Edited for comment.