Fashion label Dion Lee enters voluntary administration

"The Dion Lee brand is one of a handful of Australian fashion labels that has been able to break into international markets in recent years and there is no doubt as to the high creative regard in which it is held," administrator Anthony Resnick of dVT Group said in a statement on Friday.

"However, until we progress our administration process it is too early to comment in any detail on its current financial position other than to say our intention at this time is to operate the brand as a going concern."

The brand had won global recognition and credibility in the world of high fashion and was regularly worn by cultural icons and influencers, so should attract both local and international investor interest, Mr Resnick said.

The voluntary administration relates to its Australian-based operation, with Mr Resnick assessing its US operations as a matter of urgency.

A meeting of creditors would be put into place in the coming weeks, dVT Group said.