On November 2 2019, the celebrity designer and former “Runway Project” judge, Zac Posen announced that he was shutting down his company.
A Lookback
Zac Posen rose to fame after his design for the famous supermodel Naomi Campbell. After that, he expanded his connections with many celebrities. His design for the model Liu Wen and the actress Claire Danes at Met Gala put him under a lot of spotlight. He won many awards. He made himself to the New York Fashion Week. His niche was described as “very glamorous clothes for his very glamorous friends”. However, there seemed to be something missing.
https://www.vogue.com/fashion-shows/designer/zac-posen
The shutdown
The shut down of Zac Posen’s company is not rare. Another designer Derek Lam who founded his business in 2002 decided to close his high-end line. Many of these talented young designers who used to focus on high-end products have chosen to shift to other lines or to close their whole business. Large luxury groups might be the reason behind this. The management problem of the company could be another. However, there is more.
The culture for people to purchase has changed. In the past, the recommendation of magazines like Vogue and celebrities on the red carpet could lead to a huge rise in the purchase of a certain product. However, the rule has changed. Glamor is not what the current customers pursue. On the contrary, companies like Supreme are the brands that speak more to customers. They use their own media channels, have different stories, and build their own communities. For luxury brands like Zac Posen, how to write their own stories is a problem should be addressed.