The secretive Sydney billionaires behind the hoodies ruling the world

White Fox never responded to Ad Standards, but quietly removed the clip from its socials.

Friends and neighbours were reluctant to speak on the record even when offering the most glowing of character assessments: nice, hard-working and down-to-earth being the most common descriptions.

Mega property portfolio

That penchant for privacy, however, wasn’t enough to shield them from the spotlight in November 2021 thanks to their $34.55 million purchase of a Vaucluse trophy home.

It was just the start of their home binge. In quick succession, the couple added three neighbouring houses for $25 million, $37 million and $29 million to create one site to build their mega-mansion. Designed by Stafford Architecture it is to be known as Casa del Sol.

Having coughed up $125.55 million for land, they also purchased an in-betweener to live in up the road for $26 million.

It was a monumental step-up in terms of real estate from the federation worker’s cottage in Drummoyne they purchased as first home buyers in 2017 for $2.9 million up the road from Daniel’s parents.

Dwarfing the couple’s residential portfolio is their industrial property interests.

What started with a Newtown warehouse for $3.13 million a decade ago has since expanded to include another warehouse in Newtown, two in Rosebery, and another in Marrickville, all before this month’s acquisition of a site in Alexandria for a reported $87 million, taking their total warehouse holdings to more than $188 million.

Corporate growth and regulatory scrutiny

The family’s desire for privacy extended to their large-scale business affairs, which did not wash with the corporate regulator.

By 2023, given the obvious trappings of extreme wealth and success of the White Fox brand, questions were raised over why the company had never lodged any annual reports with the regulator, as required by a large company.

Last October ASIC issued a $187,800 fine to White Fox for failing to lodge detailed annual reports.

White Fox never responded publicly to the fine, but paid it. Six months later it lodged its first detailed annual report for the 2022 financial year. Days later, annual reports for each year since were also lodged.

On show was the sort of exponential growth from which corporate dreams are made. In five years revenue soared 728 per cent from $65.5 million in 2021 to $542.5 million.

All while the direct-to-customer nature of the business means there are no retail costs by way of stores or margins, and the number of employees has risen only from 180 to 246.

Marketing is one of the most substantial costs, up from $10.9 million in 2021 to $52.47 million last year.

Profits and legal headwinds

One of the few significant upsets to their bottom line was delivered by US President Donald Trump care of his tariffs in April last year. The result showed up on White Fox profits, down from the high of $104 million in 2024 to $93.8 million last year.

There have been handsome dividends to the company’s shareholders: Daniel and Georgia Contos; and Melina Maceri. In 2023, the couple claimed a $20.7 million dividend, and in 2024 another $76.6 million.

Meanwhile, as White Fox readies itself for the legal battle over Adidas’ claim, the branded hoodies continue to proliferate, boosted in some measure by the increasing number of White Fox knock-offs being sold from market stalls around Sydney.