Zac Posen announces closure of eponymous fashion label
‘I remain incredibly proud of what we created,’ designer states
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Your support makes all the difference.Zac Posen has announced the closure of his fashion label 18 years after launching the eponymous brand.
According to The Hollywood Reporter, the label’s owners, House of Z and Z-Spoke, revealed that the Zac Posen fashion line would cease operations.
A press release sent out by the brand outlined that the board for Posen’s fashion label decided they would close “following a comprehensive strategic and financial review of the businesses and pursuit of a going-concern sale process”.
“The Board of Managers is disappointed with this outcome, but can no longer continue operations, and believe an orderly disposition at this stage is the best course of action,” the press release stated.
Speaking to WWD, Posen explained that the brand had been in conversation with several buyers, but ultimately “ran out of time”.
“My partners and I tried everything possible within our means to find solutions to keep going,” the 39-year-old New Yorker said.
“I have been trying to find the right strategic partners at this tough time in retail and in the industry. The clock ran out.”
Posen’s designs have been worn by several high-profile celebrities over the years, including Beyoncé, Rihanna and Jennifer Lopez.
In October 2018, Princess Eugenie wore a blush gown by the fashion designer for the evening reception of her wedding.
Following the announcement of his label’s closure, Posen shared a personal statement on Instagram.
“I want to express my appreciation to our extraordinary team and for all those who have stood by me and the brand,” he wrote.
Posen stated that he feels gratitude towards his team who “lent their incomparable talent and commitment” to their work.
“I remain incredibly proud of what we created and hopeful for the future,” he concluded.
The Zac Posen website, at zacposen.com, has already been disbanded.
Posen’s spring collection, which he showcased in September, will not be shipped.
The designer told WWD he hopes he’ll have “a long career ahead”, stating: “Now, this is a new stage.”
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