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Zac Posenis closing its doors.
The beloved designer — a red carpet go-to for celebrities likeSarah Jessica Parker,Katie HolmesandCoco Rocha— is ceasing operations and the Spring/Summer 2020 collection shown in September will not be shipped.
“The Board of Managers of the Company made this difficult decision following a comprehensive strategic and financial review of the businesses and pursuit of a going-concern sale process,” the company said. “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, under the circumstances.”
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Posen also spoke about the situation, reflecting on “the journey of nearly 20 years.”
“We are disappointed that these efforts have not been successful and deeply saddened that the journey of nearly 20 years has come to an end. I am grateful to the team who lent their incomparable talent and commitment along the way. I remain incredibly proud of what we created and hopeful for the future.”
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Posen started his namesake label in 2001 and quickly became a smashing success in the industry. In 2003Voguereported he was “22 years old and Designer of the Year five minutes out of fashion college.”
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In 2008 he expanded his reach with a collection for Target, became a judge onProject Runwayin 2012 and stayed on for six seasons and was even named the Creative Director for Brooks Brothers in 2014.
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source: people.com
