Zac Posen Has Shut Down His Fashion Label

November 4, 2019 / Posted by:

If you see Katie Holmes at a red carpet event wearing a paper Whole Foods bag with leg holes ripped in the bottom as pants and a shirt made out of old, phone number-covered cocktail napkins, this might explain why. Katie’s longtime fashion BFF Zac Posen recently announced that his label is no more.

Zac’s decision to close the doors of his labels House of Z and Z Spoke isn’t one he made after he came to the end of the world’s very last bolt of purple chiffon and said, “Well, that’s all folks!The Guardian says it was a decision based on financials. Specifically, Zac couldn’t get enough money together to keep the lights on and the sewing machines running. Zac Posen launched his label in 2001, and he announced on Friday that he was “deeply saddened” to reveal he could no longer keep things going.

“I want to express my appreciation to our extraordinary team and for all those who have stood by me and the brand. I owe a great deal of gratitude for their unwavering support for and dedication to the Company. The management team at the Company worked extremely hard to navigate the increasingly challenging fashion and retail landscape, consistently evaluating strategic options to strengthen our financial profile and fuel potential growth. 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.”

Harper’s Bazaar explains that 39-year-old Zac was in the midst of attempting to sell his fashion label, but had failed to find an investor. Vogue says that in April of this year, Yucaipa Cos. – who was the current investment firm keeping Zac’s label going – decided they wanted to sell off their stake. Zac told Vogue:

“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.”

Vogue says that 60 people were let go immediately. He gave them all a shout out on Instagram. I hope they got more than a shout-out on their way out. You can’t pay your rent with Instagram likes!

Zac Posen’s dresses were seen on a ton of famous people, like Katie Holmes of course, and Claire Danes, and Natalie Portman, and Rihanna. Ellen DeGeneres and Portia De Rossi both wore custom Zac Posen when they got married back in 2008. Zac was also a judge on Project Runway for six seasons, but didn’t get picked up to be a judge on the new and not-necessarily-improved Project Runway. Zac currently serves as the creative director for Brooks Brothers’ women’s collection.

One of the reasons Zac gave for the eventual decline of his namesake brand was that the fashion landscape had changed. That’s true. It’s very different from 2001. It’s just too bad he wasn’t able to see into the future and adapt in a way that was financially successful. But even then, I’m not sure who would want to buy a bodycon stretch tube dress with a jewel-tone taffeta mermaid tail from the limited edition Zac Posen x Fashion Nova collab.

Pic: Wenn.com

Our commenting rules: Don't be racist or bigoted, or post comments like "Who cares?", or have multiple accounts, or repost a comment that was deleted by a mod, or post NSFW pics/videos/GIFs, or go off topic when not in an Open Post, or post paparazzi/event/red carpet pics from photo agencies due to copyright infringement issues. Also, promoting adblockers, your website, or your forum is not allowed. Breaking a rule may result in your Disqus account getting permanently or temporarily banned. New commenters must go through a period of pre-moderation. And some posts may be pre-moderated so it could take a minute for your comment to appear if it's approved. If you have a question or an issue with comments, email: michaelk@dlisted.com

src="https://c.statcounter.com/922697/0/f674ac4a/1/"
alt="drupal analytics" >