Zac Posen, fashion designer since the early 2000s, has announced his fashion label, House of Z, is ceasing business. The company, which was available for sale earlier this year, is now beginning the process of disposing of its assets, according to Vogue.
House of Z was responsible for many iconic red carpet looks, including his signature mermaid gowns, one of which Ashley Graham wore for this year’s Oscars. He also designed Natalie Portman’s Star Wars: Attack of the Clones premiere mini dress, Rihanna’s gorgeous pink dress at the first ever Diamond Ball, and, most recently, the innovative collaboration with GE for the 2019 Met Gala where Katie Holmes, Nina Dobrev, Deepika Padukone, and Jourdan Dunn all wore 3D-printed dresses.
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Posen, who was known as one of the early adopters of using diverse models in fashion, shared a heartfelt post on Instagram about shuttering the label.
“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,” Posen wrote on Instagram.
Fellow designer and Project Runway judge Christian Siriano expressed support with his own separate Instagram post, wishing every struggling designer luck with their future endeavors.
“With so much happening in fashion right now I’m sending my support to others in this business who have lost their way and you know who you are. I hope we all can find the right balance soon to keep making the world a more beautiful place with our art,” wrote Siriano.
House of Z’s end as a company comes at a time where the fashion industry overall is struggling. Barneys New York, one of the stockists of Posen’s label, recently filed for bankruptcy and is expected to close 15 of its 22 stores. Although the debt was eventually purchased by the Authentic Brands Group, there are current rumours of a liquidation sale that might leave brands and other retailers unable to rely on expected profits from luxury holiday spending.
As for Posen’s future plans, he stated he still has much thinking to do.
“I need to reflect and regroup, and also to look at the world we’re living in and figure what the next move is, where I can share my creativity and my love, and build another community,” Posen said to Vogue.