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Dai founder and CEO Joanna Dai has announced the womenswear brand is set to close in early December 2023, after six years of trading.
In a LinkedIn post, Dai mentioned that her Autumn/Winter 2023 collection, named the Greatest Hits, will be her last and final collection.
The news of the closure comes after Dai stated that “global events and the macro environment meant the cost and challenges of upholding our vision has become insurmountable”.
During her tenure, Dai opened eight stores across London and achieved B Corp status at 97.4 in 2020.
Dai said: “For me, this has been a near-impossible decision and one I did not take lightly. But after months of excruciating deliberation, it felt like the only way forward. I know we will look back knowing we have given it our all in love and passion, blood, sweat and tears. I am confident we will have created a lasting influence.
“Thank you to everyone who has been a part of our Dai’namic journey, supported our brand and products with love, and brought such passion and care to our community. I am grateful to each and every person who has touched this journey: our inspiring customers, the investors who backed our vision, our innovative suppliers, every journalist who has shared our story.”
She added: “Last but not least, a heartfelt thank you to our incredibly talented team and partners, past and present – I could not have done any of this without you. For our remaining team, we are committed to making sure they are supported through this period with extended notice periods and above-statutory packages to support their transition into the next phase of their careers. If you love what we do, please do get in touch.
“Whilst this is particularly difficult news, I believe this is also a time of celebration. It has been an amazing, unforgettable ride, and we will be forever grateful for the experience. We hope you will join us and celebrate the brand in these final months.”
