Australian fashion tycoons Georgia and Daniel Contos buy $61 million Sydney warehouse

Australian fashion tycoons Georgia and Daniel Contos, the couple behind the online clothing label White Fox Boutique, have bought a Sydney warehouse for A$87 million ($61 million) as the hoodie brand they started on eBay grows past A$400 million in annual sales.

The couple bought the site at 19 O'Riordan Street in Alexandria, an industrial district in Sydney's inner south, from interests linked to the Hendler family, which built the facility and had owned the land since 1992. The property has an 11,437-square-meter building on a 1.31-hectare site, with a showroom, three levels of offices, a theater and 102 parking spaces. It is expected to be used as a distribution center.

The purchase follows White Fox's A$70 million ($49 million) acquisition of an office building in nearby Rosebery from industrial property group Goodman. The company turned it into its headquarters, fitted with a slide, a ball pit, a basketball and tennis court, a Pilates studio, a sauna and a pink podcast studio.

From eBay to a A$1.3 billion fortune

The Contoses, both in their mid-30s, started White Fox in 2013 as a small eBay business selling other companies' clothing. It now sells its own partywear, activewear and oversized hoodies with a rounded "bubble" logo, mostly online, and is popular with teenagers. The brand grew on Instagram, where it has about 2.7 million followers, and through influencers. Kim Kardashian and model Emily Ratajkowski have been photographed in its hoodies.

The couple have grown the business without outside investors, apart from early support from Daniel Contos's mother. White Fox expanded into the U.S. in 2019 and the U.K. in 2024. The couple also own Baddest Bod, a self-tanning brand launched in 2022.

Sales have climbed quickly. White Fox's revenue rose to A$121.7 million ($85 million) in the 2022 financial year from A$65.5 million a year earlier, and net profit almost tripled to A$24.7 million ($17 million), according to filings with the Australian Securities and Investments Commission. The company paid the couple a A$9.9 million dividend that year.

Tax office data show White Fox's total income more than doubled to A$429 million ($301 million) in the 2024 financial year, when it paid A$46.9 million in tax. At Australia's 30% corporate tax rate, that bill points to a profit of more than A$100 million.

The couple, who have appeared on lists of Australia's young rich, joined the country's two main annual wealth rankings this year. In March they debuted on one ranking with an estimated A$1.42 billion, and in May they joined another at No. 140 with A$1.3 billion ($913 million), as one of 15 newcomers.

Adidas lawsuit

The company also faces a legal fight with one of the world's largest sportswear makers. Adidas filed a trademark lawsuit against White Fox in the Federal Court of Australia in September, claiming that stripe designs on some of its socks, pants and other clothing are "substantially identical with or otherwise deceptively similar" to Adidas's three-stripe mark.

The German company says White Fox ignored repeated requests to stop selling the items. It is asking the court to order White Fox to stop the sales and to pay its profits from the products, along with damages, interest and costs. Neither company has commented publicly on the case.

White Fox has had other problems. Black Friday demand in 2023 left some customers waiting more than a month for orders, and the corporate regulator fined the company A$187,800 ($132,000) for failing to meet financial reporting obligations.

Outside the business, the couple are building a Mediterranean-style mansion on a 4,000-square-meter harborfront site in Vaucluse, one of Sydney's most expensive suburbs. They put the block together by buying five neighboring properties, at a reported cost of about A$150 million ($105 million).