Oroton facing closure as more Aussie brands struggle to stay afloat

Two brands face the chopping block as Australian retail crisis continues.

Iconic handbag retailer Oroton and independent fashion brand Lover are the latest companies to accept defeat in Australia's tough retail space.

The two luxury brands join a line of local retailers struggling to compete with fierce obstacles on multiple fronts, including online shopping, multinational brands and a demand for lower price points.

Oroton is the latest victim, announcing it would go into voluntary administration last week after nearly 80 years in operation.

OrotonGroup, which also franchised Gap stores in Australia until ending their relationship earlier this year, is now seeking a buyer or looking to restructure in order to revive the brand.

 

 

A post shared by OROTON (@oroton) on

While Gap stores have been closing since August, Oroton is keeping its 60 handbag stores open in an attempt to keep business running as usual until it finds a solution to its financial problems.

The luxury handbag brand was founded in Sydney in 1938 and is best known for its trademarked 'O' logo. It has had a number of celebrities as its face, including actress Rose Byrne and supermodel Samantha Harris.

Meanwhile, luxury fashion brand Lover also announced it was also seeking a buyer after going into voluntary administration.

 

 

A post shared by LOVER® (@lover) on

The designer label, known for its range of lace dresses, was founded in Sydney in 2001. Financial administrators Ferrien Hodgson, who also facilitate Topshop Australia's restructure, are seeking bids for all or part of the independent business.

According to a statement from the administrators, Lover employs 25 people across the whole company, including its stores in Bondi Junction and The Strand Arcade. 

Fans of the brand can still purchase their stunning looks online, where stock is slashed up to 50 per cent off.

Lover and OrotonGroup are two of the latest Aussie brands to suffer in a tough retail market, which has also claimed Marcs, David Lawrence and Payless Shoes.

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