After Twenty Years, Zac Posen Closes Shop
The acclaimed 2000’s designer Zac Posen, a red-carped favorite renowned for his mermaid draped gowns, is closing his brand as a result of an incomplete sale by his investors. Yucaipa Cos., the investment firm founded by Ron Burkle, was seeking to sell off the brand all year, but unfortunately, no deal could be met by the deadline. His team of around 60 employees was notified of the news on Friday and the website was quickly shut down.
This news comes after one of Posen’s biggest carriers, Barney’s, declared bankruptcy as well. “I need to reflect and regroup,” Posen told Vogue. “And also to look at the world we’re living in and figure what the next move is, where I can share my creativity and my love, and build another community.” One thing for sure, with his dedication to art and creating we will surely hear from him again.