Earlier this year, Australians had a front-row seat to the power of “Swiftonomics” – the coin termed to describe pop star Taylor Swift’s ability to sell out stadiums, cause Airbnb price gauging or trigger a global sequin shortage. Before “Swiftonomics” there was the “Kate effect” , where an endorsement from the Princess of Wales meant a sure fire boost for a designer. But is a celebrity endorsement still as valuable as it once was? And what does it mean if not even an endorsement from princess – or a pop princess – can keep a fashion brand alive? Taylor Swift, left, wearing a corset by Dion Lee at the Super Bowl earlier this year, and the Duchess of Cambridge, right, in a dress by The Vampire’s Wife.
Credit: Getty Images This week, two brands – Dion Lee and The Vampire’s Wife – both with considerable backing from stars, announced their closure. The former, a 15-year-old Australian brand beloved globally by the likes of Zendaya and Dua Lipa, and worn by megastar Taylor Swift at this year’s Superbowl , and the latter a UK-based favourite of prominent women such as the Princess of Wales, Cate Blanchett and Sienna Miller. On Thursday, designer Dion Lee announced it had entered voluntary administration after ending its long-term relationship with Cue group.
Earlier this week, The Vampire’s Wife announced it would be ceasing operations immediately. It’s a tough time for fashion retail. The collapse of Dion Lee and The Vampire’s Wife follows the a.
