Cue Clothing Co founder and chairman Rod Levis says the high fashion label of designer Dion Lee “needs a lot more finance” to reach its full potential, but his house of brands will not plug the losses linked to slowing sales and overseas expansion plans.

Mr Levis, who started women’s fashion wear group Cue in 1968 and has pumped tens of millions into the Dion Lee brand, said the split was amicable and believes the New York-based designer has a bright future – just not with the backing of his company.