How a Reddit army brought an Aussie lingerie icon back from the dead

The untold story of how a split with Elle Macpherson led lingerie giant Bendon to the brink of disaster, and its unlikely rescue by meme stock ‘apes’.

Elle Macpherson in 1998 with models dressed in her eponymous underwear range. Her break with Bendon in 2014 marked the start of the company’s financial woes.

Carrie LaFrenz and Jessica Sier

Jul 2, 2021 – 11.16am

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Temperatures were near freezing in January and the strict COVID-19 lockdowns in Anna’s European hometown meant the 30-something retail investor was spending hours glued to her screens.

Anna works in education by day but often spends extra hours searching for penny stocks worth betting on. In the days after Christmas her screen, and those of countless others around the globe, had started to hum with activity.

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Carrie LaFrenzSenior reporterCarrie LaFrenz is a senior journalist covering retail/consumer goods. She previously covered healthcare/biotech. Carrie has won multiple awards for her journalism including financial journalist of the year from The National Press Club.

Jessica SierNorth Asia correspondentJessica Sier is the North Asia Correspondent for The Australian Financial Review. She is based in Tokyo, Japan. Jessica has previously written on technology, global capital markets and economics.