G-Star Becomes Latest Fashion Victim; All Stores Set to Close

You're gonna need to find a new fave jeans brand.

After months spent searching for a new buyer, G-Star Australia has unfortunately collapsed, with all 57 local stores set to close.

According to News.com.au, this will result in 200 job losses.

As of this writing, the Australian website does not even allow you to shop online. However, G-Star is continuing to operate internationally.

It becomes the latest big fashion brand to suffer as a result of declining retail sales (exacerbated by the COVID-19 enforced shutdowns).

Since entering administration in May (go here for an explanation as to what that means), the denim retailer has been selling its jeans and clothing items at drastically reduced prices online.

 

 

 

 

 

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70-90% Off Everything. Last Styles Added Online. *Excludes WA stores - please note due to COVID-19 restrictions - our Victoria locations are temporarily closed*

A post shared by G-Star RAW Australia (@gstarraw_au) on Jul 30, 2020 at 4:04pm PDT

Unfortunately, administrators were unable to find new investors to purchase the brand and give it a second life.

"G-Star RAW is a globally recognised brand. The fact that no party was able buy the business reflects the high level on uncertainty regarding the future prospects for the retail sector in Australia," the administrators said in a statement.

Be prepared: this may not be the last big brand to say farewell in 2020, given the unprecedented situation we all find ourselves in.

Our thoughts go to the Australian employees.

Header Image: Pacific Press via GettyImages