Designer Zac Posen, who presented his first runway show in 2001 and is a Project Runway alum, is closing his namesake business. WWD reports on the details — employees were immediately informed of the news and the Spring collection Posen showed will not be offered to customers — and Zac spoke with honesty and integrity about the decision. "We were in a sale process and we ran out of time . . . There was a board vote. We had to make the call. My partners and I tried everything possible within our means to find solutions to keep it going. I have been trying to find the right strategic partners at this tough time in retail and in the industry. The clock ran out," Zac said.
We're sad to hear the news as fans of the designer, who received Swarovski's The Perry Ellis Award for womenswear at the 2004 CFDA ceremony (Natalie Portman showed her support at the event in this shimmering minidress). Zac also created a wonderful collection for Target in 2008, famously made a powerful statement about diversity in the fashion industry on his Fall 2016 runway, and designed Princess Eugenie's wedding reception dress, inspired by the blush hue of the English rose.