The fashion industry received some sad news on Friday, as designer Zac Posen announced he is closing his namesake business after eighteen years. Despite being a celebrity and royal favourite, Zac told WWD: “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." He continued: “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.” This comes shortly after he debuted his Spring/Summer 20 collection in September, which will no longer be shipped.
In an emotional Instagram post, Zac, 39, thanked his team for their hard work. He said: "I want to express my appreciation to our extraordinary team and for all those who have stood by me and the brand. I owe a great deal of gratitude for their unwavering support for and dedication to the Company. 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. Love ZP." And he was not short of support, with people quick to shower him in compliments on previous Instagram posts. Linda Hay said: "You are true artist and I’m so proud of everything you have done!" while Erin O'Connor wrote: "There is no one like you my dear, talented friend... you are one of a kind! I LOVE you always and feel so privileged to have been a part of your vision so far."
Zac Posen designed Katie Holmes' purple dress for the 2019 Met Gala
Since founding the business in 2001, the American designer has become well-known for creating some fabulous dresses, particularly on the red carpet. As well as dressing the likes of Uma Thurman and Claire Danes, some of his most memorable celebrity designs include the pleated mermaid dress for Gwyneth Paltrow at the 2007 Oscars and Katie Holmes' purple 3D gown for the 2019 Met Gala.
Princess Eugenie wore a pink gown by Zac for her wedding reception
And he also counts royals among his clientele! After all, who can forget the gorgeous bespoke blush pink gown Princess Eugenie wore for her evening reception on her wedding day with Jack Brooksbank in October 2018? Zac is said to have been inspired by the beauty of Windsor and the surrounding countryside when designing the gown, which features a bias-cut pin-tucked plissé and a blush hue that reflects the colour of an English rose.