Exoticathletica collapses: Founder's $7 million a year crop top brand goes under, announces flash sale

West Australian

21-05-2025

An Australian leisurewear company whose founder made $7 million in a single year from a hugely popular crop top has gone under, leaving a trail of debts totalling $13 million.
The online label, founded in Noosa in 2014, became a favourite for its bold, colourful active wear styles and quickly developed a loyal following among fitness fans. The brand's owner, Leilani Chandler, sold more than 140,000 seamless, wire-free crop tops between April 2020 and April 2021, with each top retailing for around $50.
But by 2025, the company had racked up more than $6.2 million in debts, including $800,000 owed to the Australian Tax Office and $6.7 million to the Commonwealth Bank.
Customers are reportedly owed $172,576, while employees are waiting on $416,447 in pay and superannuation.
Several suppliers have also been left out of pocket, with debts including $211,931 to Active Apparel Group, $311,928 to Andorra Australian, $447,813 to Dongguan Huachen Sporting Goods Co, and $416,447 to Chinese manufacturer DandJ International.
A 70 per cent off flash sale is currently running on the
company's website
as administrators try to recover funds.
Sales soared during the pandemic, when comfort became a priority during lockdowns. While the business mostly operated online, it opened a physical store at Sunshine Plaza in Maroochydore on the Gold Coast in 2019.
Insolvency firm SV Partners, led by Terry van der Velde and Matthew Hudson, has taken over and the company continues to trade for now. The business's total assets are estimated at $2.5 million in stock, less than a fifth of its total debts.
Ms Chandler spoke to media in 2021 about the brand's meteoric rise, noting a 485 per cent sales jump on the previous year.
The crop top, she explained, was designed for everyday wear, with thick compression fabric providing support instead of traditional wires and foam cups.
'You can wear it as outerwear if you want. It can be anything from a fashion piece to a gym top or even swimwear,' she said.
A second meeting of creditors is expected to take place next week.