October 21st, 2010
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Like the watery java of Starbucks or the horrors of iSnack 2.0, when the Australian public decides to collectively hate something, you best roll over and play dead lest people take your demise into their own hands (and they will!). We’re great at hating after all – must be that inherent tall poppy syndrome or our authority adverse past (we can still blame current behaviour on “Australia’s convict history”, right?) – and in August when clothing brand Ed Hardy, the 99% accurate douchebag designator and gaudy garb preferred by porn stars, announced it would go into administration, close six Westfield stores and barely survive a year they described as “turbulent”, you, nay we, hated with every fiber of our cynical, blackened hearts.
But that kind of retail demise just isn’t enough for some people. Just when Ed Hardy would go gently into the night, bringing its motorcycles, mermaids and bedazzled abominations to Hell along with it, someone had to put a bomb under the Ed Hardy deathbed and post a (fake) council notice in Melbourne’s Chapel Street.
We know it’s a fake because they’ve misspelled ‘Stonnington’. Also, the phrase “fuck-head Jersey Shore wannabes” probably exists outside of council’s communication style guide. Just a guess.
Reads the notice:
“The City of Stonignton [sic] and Chapel St [sic] Precinct hereby announce that Ed Hardy shall cease trading immediately.
Despite claims of financial troubles, Ed Hardy have [sic] actually contravened style and taste laws, and are [sic] no longer permitted within a 20km radius of Chapel St.
In turn, all you fuck-head Jersey Shore wannabes can go back to the suburbs, to spend the exorbitant amounts of cash you were going to use on bedazzled wifebeaters, on your illegitimate children instead.
Please do not return.”
October 9th, 2010
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Ed Hardy fashion label has collapsed. Angry debt collectors are pursuing the brand while Gary Berman tries to start a new life in New York.
The Ed Hardy fashion label has gotten into a millions of dollars of trouble with Australian creditors. The Australian franchise of Ed Hardy was voted by creditors to wind up its operations today. This action only relates to the Ed Hardy franchise in Australia, not the Ed hardy international group. However, when the spokesperson of Deloitte, which was appointed as voluntary administrators in September, spoke with news.com.au they admitted that creditors are owed more than $15 million by the Ed Hardy brand. About $500,000 is owed to employees of the brand抯 chain in wages and entitlements. The franchise owes major creditor ANZ over $4.3 million and creditor Ed Hardy Malaysia claims that they are owed $1.75 million.
Only two Ed Hardy stores in Australia will remain open in order to liquidate remaining merchandise. These two stores will be located in Melbourne抯 Chapel Street and in Surfers Paradise. The Owner of the Ed Hardy chain is Gary Berman. During the creditors meeting it was revealed that Berman was losing money in trade which caused a cash flow shortage. This also led to a decrease in sales. For example, in the past year Ed Hardy made $17.5 million in sales but lost $1.9 million in the cash flow shortage. The Ed Hardy chain in Australia included 18 stores. Ed Hardy was also being sold through 3rd party stockists. Initially eight of these stores were closed voluntarily but after Deloitte was appointed they closed four more. Now only two stores remain for the duration of liquidation.
According to the Sunday Herald Sun a few other big losers in this situation include a medical services firm which seeks $2.3 million, Westfield Southland which claims over $71,000 some of which is in unpaid rent, and Ed Hardy抯 New Zealand arm who is claiming over $127,000.
Gary Berman sympathizes with people who have lost money in the situation just like he has but he blames it on the gamble of business. The Ed Hardy brand was created by famous designer Christian Audigier and he too is among the creditors who are claiming money. Audigier claims that he is owed nearly $470,000 from the Ed Hardy chain in Australia.
It is said that Gary Berman has now retreated to New York to figure out what he wants to do with his life. Berman does claim that moving to New York was planned long before the company went under.
Since the employees were not paid between July 1, 2010 and September of 2010 (until the company went under administration) they will be eligible for reimbursement of lost wages from the government.
September 7th, 2010
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Adam Saaks, master couture cutter, designs Ed Hardy shirts to look like fashionable shreds. He takes a do-it-yourself trick and makes it look glamourous. Ed Hardy clothing is hot. But this Ed Hardy couture-cut shirt are even hotter!
Ed Hardy Women is a best-selling perfume from Ed Hardy, tattoo-extraordinaire. Grab a bottle of Ed Hardy Women for a discount at Scentiments.com.
September 7th, 2010
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Ed Hardy Sales Slow
THE Australian arm of American streetwear brand Ed Hardy has collapsed just three years after entering the local market,
Four of the chain’s 10 stores are being closed down by administrators.
Simon Wallace-Smith and Tim Norman, partners with accountancy firm Deloitte, closed the company’s eastern suburb Paddington store in Sydney, the Pacific Fair store on the Gold Coast and the Brisbane and Adelaide stores following their appointment as voluntary administrators on Tuesday. Mr Wallace-Smith said the collapse was a result of “slowing sales and the competitive nature of the retail industry” — factors many retailers have blamed for unimpressive performance over the past six months.
Six remaining stores — of which three are in Melbourne with another in each of Sydney, Perth and the Gold Coast — would continue to operate while the administrators assessed the company’s finances.
“The aim of the voluntary administrators will be to evaluate the financial position of the companies and to investigate options to restructure the business,” Mr Wallace-Smith said.
The administration relates only to the Australian business and does not affect the US parent company, Deloitte said in a statement.
News of the collapse follows a series of downbeat financial reports from major retailers, with camping and outdoor wear chain Kathmandu and Just Jeans parent Just Group downgrading sales forecasts as a result of a downturn in trading conditions since the start of the calendar year.
Woolworths’ Big W chain, furniture and electrical giant Harvey Norman and Wesfarmer’s Target chain have reported sales declines for the fourth quarter of the financial year.
August 19th, 2010
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The collapse of the Australian arm of Ed Hardy this week will not affect any of the US clothes retailer’s stores in the Gulf, a Dubai-based spokesperson told Arabian Business on Thursday.
Ed Hardy Australian also holds the license for stores in the UK, Asia and Middle East. This week it went into administration, leading to the closure of stores in London, Sydney, Brisbane and Adelaide.
Ed Hardy stores unhurt by Aussie collapse!
However, a spokesperson for the company in Dubai said the Ed Hardy stores in the Middle East would not be affected by the winding down of the Australian franchise holder.
The spokesperson added that the brand, which is popular with young Arabs, is actually planning to increase the number of outlets it has in the region and is aiming to open three new stores in the coming months.
Simon Wallace-Smith from Deloitte, who has been called into management the administration of the firm, said in a statement that the collapse of the franchise was due to “slowing sales and the competitive nature of the retail industry.”
The brand is based on the designs of US tattoo artist Don Ed Hardy and the clothing unit was conceived by Italian designer Christian Audigier.
In June, the Ed Hardy store in the Westfield shopping centre in London also closed after it fell behind on its rental payments. There are around 70 Ed Hardy stores worldwide.
