Oilily was the Dutch colourful fashion brand that went bankrupt twice

Oilily was founded in 1963 in Tilburg, Netherlands, by Willem and Marieke Olsthoorn. The couple started by making baby clothes for their own child, and the positive response led to a children's clothing line characterised by bright colours and bold patterns. The brand grew steadily through the 1970s and became known for its cheerful, distinctive aesthetic.

In 1981, Oilily filed for its first bankruptcy. The cause was high production costs — the company manufactured in the Netherlands, and Dutch labour costs made it uncompetitive. After the bankruptcy, the founders restarted and moved production abroad, primarily to India. This allowed Oilily to grow into an international business with 300 own stores worldwide and annual revenue of €70–90 million.

In 2003, the Olsthoorn family sold a majority stake to ABN AMRO Participaties and H2 Equity Partners. In March 2009, the company was taken over by the Hollander-Ward couple — the co-owners of H2 Equity — who filed for bankruptcy shortly afterward. The 2008 financial crisis and the collapse of consumer spending destroyed the brand's recovery. After the bankruptcy, the Olsthoorn family bought back the name rights and part of the inventory, relaunching the business from Alkmaar. Oilily continues to exist today but operates at a fraction of its former size.