Zac Posen closes his eponymous fashion house

Zac Posen is shutting down his namesake label.

The 39-year-old American designer announced the sad news last Friday in a statement: '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. I am grateful to the team who lent their incomparable talent and commitment along the way. I remain incredibly proud of what we created and hopeful for the future.'

The label's owners House of Z and Z Spoke added that the company can no longer continue operations and has been in a sale process. According to Posen, he had been looking for a new partner for his company for some time, but his efforts, unfortunately, did not help. It is not yet known what the next step will be for the designer.

Posen launched his namesake label in 2001 after graduating from the prestigious fashion school Central Saint Martins in London. He has also served as creative director for the Brooks Brothers women's collection and as a judge on TV's 'Project Runway.' For nearly two decades, his creations have been been a Red Carpet staple for stars like Katie Holmes and Rihanna. One of his most memorable designs is the pink satin dress he designed for Gwyneth Paltrow during the Oscars of 2007 and Claire Danes' luminous ball gown for the Met Gala in 2016. Posen also designed the second wedding dress of Princess Eugenie during her wedding earlier this year with Jack Brooksbank.

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