Did the Fashion Industry Fail Zac Posen?

It saddens me to hear that the beloved designer we know and adore is shutting down his doors. 39-year-old Zac Posen shut down his company dramatically as of November 1, 2019. The industry legend and his renowned company, House of Z, has been known for its beautiful and elegant creations throughout its years since opening in 2001. We have seen his designs at red carpets and prominent events on my many stars such as Rihanna, Naomi Campbell, Oprah, Katie Holmes, Sarah Jessica Parker, and many more. 

We also cannot forget the appearances of Posen’s gowns at the Met Gala over the years and all the attention they have attracted with their extravagant princess-like shapes. These gowns were worn by Deepika Padukone, who looked like a pink queen at the Met Gala in 2019, and Claire Danes, who resembled a glow-in-the-dark Cinderella at the Met Gala in 2016. 

Sources: Harper’s Bazaar & The Standard

It’s no secret that Zac Posen has been well-recognized and admired throughout his years in the fashion industry for his unique aesthetic of modern, Old Hollywood charm.

He has especially kept his relevance while he was a judge on Project Runway for six seasons. So we wonder, how could this have happened? What went wrong with this company that seemed to be so successful?

Sources have said that Posen could not find any buyers or investors for House of Z and that he was running out of time. Posen has also stated that it’s a tough time for retail and the industry in general at the moment. The investment firm Yucaipa Companies, created by Ron Burkle, had obtained a 50% stake in Posen’s company before getting fed up and dropping out. This caused Posen to let go of 60 staff members and shut down his business immediately.

In tough times like these, it seems as though the fashion industry is not a friend to designers, even those who have been so successful and fortunate for many years like Posen. As we can imagine, Posen is “deeply saddened” by this, but will continue his passion through his position as Creative Director for Brooks Brothers’ womenswear division, which he has held since 2014.

The fashion industry can be very unpredictable and fast-paced, so if you don’t keep up with the market you can get left behind. The retail industry is especially stressful because companies struggle to find new ways to get consumers interested in new products. Unfortunately, ideas might not always work in their favor, leading to companies shutting down and filing for bankruptcy. When it comes to different generations and shifting consumer behavior, customers evolve and find new interests.

Source: Vogue

Zac Posen consistently stayed busy with many projects and company partnerships, but it seems as though he didn’t pay  enough attention to House of Z to stay afloat. 

So what does this mean for Zac Posen? Instead of the designer finding this loss as a major heartbreak, he is looking at it with a positive outlook to where else he can share his passion. As we can learn from our farewell to House of Z, the fashion industry waits for no one. So did the fashion industry fail Zac Posen? Or does this lead to bigger and better opportunities and plans for the designer? We hope the latter.