PERTH: Swimwear brand Kooey is preparing to wrench the last skeleton from its closet with an ownership reshuffle and a wholesale assault on the international market.
The brand endured a spectacular fall from grace late last year after founder and managing director Joanne Pellew was imprisoned on charges of conspiring to sell or supply cannabis. Pellew resigned and lost her 49 per cent stake in the company as a result of the 36-month-prison sentence.
Current owner and majority shareholder Nikki Silverthorne, who joined the company as a financial director prior to Pellew's conviction in December, said Kooey had all but broken with its past. The last hurdle was to campaign for 100 per cent ownership of the brand - a process which had already seen her entangled in red tape.
It was understood Pellew lost her minority share to the Western Australian Government as a result of the Proceeds of Crime Act.
"It's incredibly frustrating but we are now in the process of regaining those remaining shares so I will have 100 per cent ownership of the company," Silverthorne said, adding that an appeals process had further delayed negotiations. "It's hard because we don't know what it's going to cost to get that minority share back."
In the meantime, Silverthorne said the brand was focused on growing beyond its online store format and targeting key buyers across Australia, Europe and the US. Kooey was scheduled to take part in a runway show at Swim Fashion Week @ Sanctuary Cove tomorrow evening, before moving on to Mercedes Benz Fashion Week Swim in July and a possible show at Sun & Swim London during the same month.
The brand had already garnered American department store interest at Austrade event G'Day USA, which was staged in January.
"We are looking into sending our European agent to the London swim show because the timing is so tight," Silverthorne said. "Our agent in France will also represent us in Europe, Japan and Hong Kong and in talking to potential stockists for the northern hemisphere summer."
The brand will showcase two collections at the trade events: 'The Kimberley', inspired by the colours of northwest Western Australia, and 'The Ningaloo', inspired by the colours of Australia's Ningaloo reef. Manufactured in Australia, the range is priced from $80 for separates and $150 for full pieces.