Zac Posen’s brand has been purchased by executives at Centric Brands. In November, the fashion designer announced he was abruptly shutting down his eponymous label, which he founded in 2001, after a sale fell through at the last minute. He revealed he…
Zac Posen’s brand has been purchased by executives at Centric Brands.
In November, the fashion designer announced he was abruptly shutting down his eponymous label, which he founded in 2001, after a sale fell through at the last minute. He revealed he had been in discussions with several potential buyers or investors and none came to fruition.
On Thursday, representatives for Centric Brands announced they had purchased the Zac Posen brand and all related property held by Posen’s business Z Spoke. As part of the deal, Centric executives have acquired all existing licenses and collaboration agreements and won’t be assuming any liabilities associated with the previous business. The value of the deal was not disclosed.
Posen, 39, will serve as a strategic adviser on matters relating to creative direction, marketing, and promotion of the branded business.
“I am so pleased that Centric Brands is committed to the Zac Posen brand and to building a new and relevant Zac Posen branded world,” said Posen, according to WWD. “I am looking forward to helping Jason (Rabin, chief executive officer of Centric) and the team continue to identify and execute on strategic licensing opportunities and selectively build the brand’s global distribution and omnichannel marketing strategy.
“Along with my role as strategic advisor to Centric Brands, I am looking forward to engaging in other projects, both in and outside of fashion, that have long intrigued me. It’s a very exciting time.”
Rabin added in a statement, “Zac is a talented and charismatic designer. The Zac Posen label is synonymous with exceptional craftsmanship and modern American glamour and is a red-carpet favourite among many of the world’s most famous celebrities. This acquisition adds a global, marquee designer brand to our portfolio of ready-to-wear women’s apparel and provides a platform to expand into new licensing categories, while supporting one of our strategies for growth.”
Centric’s portfolio includes labels such as Herve Leger, BCBG MaxAzria, and Hudson Jeans.
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Herve Leger has hired a new creative director.Founded in 1985 by designer Herve Peugnet, the French fashion house won acclaim in the 1990s for its striking bandage dresses, with celebrity fans including Gisele Bundchen, Beyonce and Victoria Beckham.Whi…
Herve Leger has hired a new creative director.
Founded in 1985 by designer Herve Peugnet, the French fashion house won acclaim in the 1990s for its striking bandage dresses, with celebrity fans including Gisele Bundchen, Beyonce and Victoria Beckham.
While the Herve Leger brand has experienced a lot of upheaval in recent years, fashion publication WWD reports that Christian Juul Nielsen has now been named as the company’s latest design director.
Little is known about Nielsen, but according to his LinkedIn page, he previously worked at Christian Dior, Oscar de la Renta and J. Mendel in senior creative roles.
In addition, he has acted as creative director of contemporary womenswear label Land of Distraction since November 2016. Launched by Danita Short, the label’s main inspirations include rock ‘n’ roll, motorcycle culture and the style of the 1970s, with it believed that Nielsen will continue in his role at the business.
“It is understood that he will continue at the start-up brand while bringing a shot of energy to the Herve Leger brand,” editors at WWD report, adding that they anticipate he will unveil his first collection during New York Fashion Week next month.
Ownership of the Herve Leger label has changed hands numerous times since its inception. Designer Peugnet, also known as Herve L. Leroux, lost control of the company and commercial use of the name when it was purchased by the BCBG Max Azria group in 1998.
It remained within the BCBG Max Azria portfolio until executives from that company filed for Chapter 11 bankruptcy protection in early 2017, with Herve Leger first sold to Marquee Brands, and then to Authentic Brands Group.
Peugnet died at the age of 60 last October.
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