Australian Activewear Brand Stax Enters Liquidation
The multimillion-dollar company, co-founded by Rich Listers Don Robertson and Matilda Murray, has been wound up.
Stax, a popular Australian activewear brand favored by celebrities, has entered liquidation, with liquidators appointed on Friday.
The company, founded by Don Robertson and Matilda Murray, was wound up at a general meeting, according to a notice filed with the Australian Securities and Investment Commission. Brian Raymond Silvia and Michael Charles Hird have been appointed as liquidators.
The brand, which began in a Perth bedroom in 2015, experienced rapid growth, reaching a peak valuation of approximately $52 million, which placed Robertson and Murray on the 2022 Young Rich List. At one point, Stax operated eight stores, but six were closed in 2025 due to rising interest rates. Upon entering receivership, the company maintained two boutique locations in Sydney and Liverpool, alongside its online store.
FTI Consulting receiver Joseph Hansell noted that Stax is a "well-known Australian brand with strong customer support" and that "Stax has done something genuinely impressive, proving that premium activewear does not have to choose between performance and style." The business is reportedly trading as usual while the receivers conduct an assessment.
Robertson and Murray started Stax from humble beginnings, packing orders from Robertson's mother's spare room before moving to Murray's father's living room. Robertson has spoken of overcoming a significant fear of failure during the company's early years, describing a period of intense focus on making the business work. The founders utilized local influencers and markets to promote the brand, often gifting products as they could not afford professional models. Murray highlighted their strategy of focusing on "making one sale rather than selling out an entire collection."
Robertson is credited with the design of the pieces, while Murray is noted for adding a feminine touch to the business. The couple relocated to Sydney in February 2019 to further expand the brand, operating from a small rented apartment. Stax gained international recognition, with celebrities such as Jennifer Lopez, Lizzo, Megan Fox, Rita Ora, Hailey Bieber, and Addison Rae reportedly endorsing the brand.
