The news about the closing down of Zac Posen's namesake label, launched in 2001, came up as a surprise for some of us. With nearly 2 million followers on Instagram and plenty of red carpet memorable moments, dressing up some of the most renowned A-list celebrities, it was rather unexpected.
Photos from his Instagram account: @zacposen
The Business of Fashion says the closure is due to "the decline of the department store model and the rise of fast fashion and online shopping, as well as stiff competition from the European luxury conglomerates."
Nicole Phelps writes about it on Vogue magazine, mentioning the documentary House of Z, which "depicts the challenges he faced, significantly during which he put on runway shows in Paris."
In any case, it's sad to hear about it and it would be interesting to learn more about what could have been done differently to avoid the current state of affairs.
Vanessa Friedman has an interesting point of view published on The New York Times, which is definitely worth reading. One thing is for sure, the way fashion operates needs to change dramatically to rise up to the challenges we're facing today.
A simple step would be to shift the focus from the future to the present, so production could be based on real orders instead of predictions. This is actually the business model of brands like Bionda Castana.
There are also innovative rental and resale business models that have the potential to revolutionise the way we perceive and consume fashion. I'll write more about it at some point, for now here's my favourite catwalk dresses by Zac Posen throughout his career.