Fashion designer, Zac Posen shuts down namesake label

Fashion designer, Zac Posen shuts down namesake label

After almost 20 years, fashion designer, Zac Posen is shuttering his namesake label and is ceasing all business operations. "The Board of Managers is

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After almost 20 years, fashion designer, Zac Posen is shuttering his namesake label and is ceasing all business operations.
“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,” according to a press release.

In a statement, Posen cited industry challenges and said of the closure. “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.”

“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. I remain incredibly proud of what we created and hopeful for the future.”

The New York designer’s dramatic gowns were a mainstay of the red carpet, and his dedicated fans included everyone from  Rihanna to Katie Holmes to Michelle Obama, Natalie Portman, Kate Winslet, Naomi Campbell, Jennifer Lopez and Beyoncé, among many others.

Zac Posen founded the line in 2001 at just 20 years old, after dropping out of London’s distinguished Central Saint Martins. He quickly became a darling of the industry.  In 2004, Posen was awarded the prestigious Perry Ellis Award for Womenswear by the Council of Fashion Designers of America. His dresses have been worn by countless celebrities,