Zac Posen has spoken out on the “horrible” decision to close his namesake brand.
On Friday, the shock news broke that the designer would be shutting down his eponymous label, which he started in 2001, after a sale fell through at the last minute.
“We had to close up House of Z, Z-Spoke, the whole company,” Posen told WWD, calling the decision “surreal, intense, surprising and immediate”.
He sadly explained: “The board made a difficult 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. The clock ran out.”
According to the outlet, Yucaipa Companies, which has owned a stake in the Zac Posen brand for more than 15 years, was looking to sell, and there were several discussions with potential buyers. However, talks failed and the sale was ultimately unsuccessful.
And the designer’s most recent collection, which he showcased in September, will not be shipped.
Posen has dressed the likes of former U.S. First Lady Michelle Obama, Oprah Winfrey, Gwyneth Paltrow, and Naomi Watts, and last year, he designed the reception gown Princess Eugenie wore after her wedding to Jack Brooksbank.
“We have dressed everybody, from the biggest stars to emerging talents to royalty. I feel really fortunate to have made clothes they responded to,” the 39-year-old shared.
Despite the decision, Posen, who also serves as creative director for the Brooks Brothers women’s collection, is confident he can make a return to the fashion industry.
“Hopefully, I’ll have a long career ahead. I need to take a little time to think about my options. I’ve been focused on my brand for a long time. Now, this is a new stage,” he insisted. “I will always have me. I will always have my creativity.”
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