20 YEARS AFTER, ZAC POSEN SHUTS DOWN HIS EPONYMOUS BRAND
Zac Posen announced on Friday that he has decided to close down his eponymous, American fashion brand citing that the brand has been finding it difficult to navigate through the retail space. He also stated that he hasn’t been successful in a bid to sell it since spring this year.
“I’ve been personally trying to find the right partner for some time,” but time ran out, and the difficult climate out there… it’s not an easy time in our industry.” Posen said in an exclusive interview with Vogue.
It is saddening to hear this news from the brand known for its glamourous, structured and flattering pieces loved by many celebrities.
No doubt the fashion industry is a highly competitive one, hence, the fashion business requires lots of work and resources in order to stay afloat but like in every business, it is important to know when to apply an exit strategy.
However, we still hope and wish Zac Posen gets a new owner who will see through its vision and the legacy it has built, and probably re-strategize to keep it going for more years to come.
The brand has been operating since early 2000. The designer of the label has also hosted the ‘Project Runway’ TV Show and has his own documentary titled ‘House of Z’ (the parent company of Zac Posen).
We wish him all the best.
PS: It should be noted that Barneys New York, retail giant and a stockist of Posen, was sold on Friday, November 1, 2019. The new owner, Authentic Brands Group plans to close its remaining stores and license its name to rival Saks Fifth Avenue, Vogue reports.