On Friday, fashion designer and red carpet favorite, Zac Posen, announced that he’s shutting down his eponymous fashion label. House of Z was founded by Posen back in 2011 at the age was 20. The decision comes after the company has failed to find a buyer and new inventors.
Since the opening of his brand, Posen’s name has become synonymous with old Hollywood glamour. From the Academy Awards to the MET Gala, Posen’s voluminous gowns have graced major red carpets over the years.
Back in April, Ron Ron Burkle of Yucaipa Companies, the majority owner, had been trying to sell his stake, to no success.
Rihanna in one of Posen’s designs.
As a result, Posen was forced to close his business, putting an end to an 18-years chapter in which he took on other projects like making uniforms for Delta Airlines and serving as a judge on Project Runway, among many others.
In a statement, Posen said: “The management team … worked extremely hard to navigate the increasingly challenging fashion and retail landscape. 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.”
Gwyneth Paltrow wearing one of Posen’s designs to the 2007 Oscars.
Posen went on to thank his team, saying: “I remain incredibly proud of what we created and hopeful for the future.” Posen’s staff of about 60 was informed on Friday.
While Posen’s eponymous brand is no more, there is no doubt the impact his designs have had on fashion, will remain forever.