After Not Being Able To Find A Buyer, Zac Posen Was Forced To Shutter Business

According to Posen, there had been discussions with several potential buyers, but ultimately noting came to fruition. “I’ve been trying to not have this happen for a month. We found out this morning there was not [a solution].”

Posen said that Yucaipa and Berkle “have been very supportive,” and that “it’s important for me to be respectful of a very, very tough decision. I gave it all I could.”

That “all” has included designing 14 apparel collections each year as well as those of numerous licensees and deals with Delta, General Electric and Brooks Brothers. The last has been an ongoing relationship, which Posen expects to continue.

Fashion is not an easy ride. Posen launched his brand at a young age, and hit some bumps along the way. “I feel I was raised by this industry,” he said, noting the strength of the relationships he’s built with press, retailers and with a devoted customer base. While recently he has focused on building the daywear side of his business, he is most known for event dressing, including a major presence on the red carpet. “We have dressed everybody, from the biggest stars to emerging talents to royalty. I feel really fortunate to have made clothes they responded to.”

“It breaks my heart for my customer and the people who work for me,” Posen said. He added that he’s proud as well of the talent he has nurtured, “emerging talent, those who have stayed with me and others who have gone out across the industry.”

Despite the shock of the forced shuttering of his company, Posen sounded resolute about the way he has conducted himself and of the future. “I think I’ve worked with integrity and care,” he said. “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.”

“We’ll see,” he offered. “I will always have me. I will always have my creativity.”