Crumpler has been purchased out of administration by co-founder Dave Roper and his daughter Virginia Martin.
The Aussie bag business was placed into administration on August 31 by previous owners Crescent Capital Partners, after COVID lockdowns and the downturn in the travel industry took a hit to its cash flow.
But after 60 expressions of interest and 20 bids placed by parties from all over the globe, Crumpler has returned to its roots with Roper and Martin.
The pair submitted A Deed of Company Arrangement (DOCA) which guaranteed a return to creditors and a prompt payment of staff entitlements to keep the company open.
"My family were buoyed by so many calls of encouragement to have another crack and we couldn’t bare to see Crumpler go down the tube," Roper said.
"We had so much fun running the company for 20 years building a great brand on the back of some classic products and incredible culture," he said.
After co-founding the business in 1995 alongside Will Miller and Stuart Crumpler, Roper departed the business in 2014 to pursue interests in music production.
Meanwhile, after cutting her teeth in retail at the Crumpler Fitzroy store, Martin went onto to found her own fashion label búl.
"I am super happy to be back where it all began for me," Martin said of the Crumpler purchase.
"Starting as a retail assistant in 1998 in the Fitzroy store are some of the fondest memories I have.
"Watching Crumpler grow inspired me and gave me the insight to go out and create any own label búl.
"After what seems like a lifetime since the humble beginnings of the first store I am so excited to be back to help Dave return Crumpler to its former glory," she said.
The return to its former glory will include bringing bag production back to Melbourne and the return of the original logo, Roper added.
"With the world coming out of hibernation and cycling booming the timing couldn’t be better.
"We’ve inherited a much smaller business but that's cool - it gives us room to consider what’s next.
"We are going to start making bags again in Melbourne at The Fitzroy workshop store.
"The original logo is definitely coming back and no doubt we will have a lot of fun returning to our artistic roots.
"A special thanks to the Crumpler staff who supported our bid unanimously - we look forward to sharing a celebratory beer at the workshop re-opening," he said.
Crumpler's stores in Little Bourke St Melbourne, Singapore and Kuala Lumpur are back open.
The brand's Fitzroy workshop store will open this Friday Nov 12.