Activewear brand Stax is returning under new ownership. The investors behind the sneaker-reselling marketplace Pushas, who emerged as the successful buyers, have begun to build its new-look C-suite while announcing a credit programme for customers caught out by unfulfilled orders.
Inside Retail reported in August that Justin and Sandy Li-Truong had emerged as Stax’s buyers. Building their success through the Sydney-based online Pushas brand, the pair said their ownership will start “with bringing in a team that can rebuild the business on strong foundations, invest in quality and deliver the experience customers expect from the brand.”
Anger was expressed by Stax’s customer base following its collapse in June. The company – founded by Don and Maltilda Robertson – had continued to take orders until the moment of its collapse. Many customers claimed on social media that Stax never fulfilled these orders, despite taking payments.
The new leadership wants to rectify this issue, despite previously saying they have no legal obligation to do so. New CEO Anna Cheng, who joins as a former national marketing director of car rental marketplace Turo, announced a credit programme for disenfranchised customers.
“We’re making things right with customers who had unfulfilled orders under previous management by issuing them credit equivalent to the amount they paid,” Cheng said in a statement.
“Thank you to Justin Truong and Sandy Li-Truong for trusting me with this, and to the Stax community for your patience. I can’t wait to show you what we’ve been building.”
Cheng also announced that Stax’s first collection will be launching on November 6. At the same time, she confirmed that the head of product under the old leadership, Georgia Bachmann, will be the new creative director.
“Stax has been such a significant part of my career and something I’ve poured so much of myself into. I’ve had the privilege of growing alongside the brand, its team and its community, and seeing firsthand what has made Stax so special.
“For me, this role is about more than what comes next creatively,” Bachmann said.
“It’s about protecting the DNA of Stax and carrying forward the core values that built the brand, and honouring everything that made our community fall in love with it in the first place, while bringing a fresh perspective to where we take it next.”
