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Zac Posen is the next Henri Bendel

Legendary designer and fashion mogul Zac Posen has closed his namesake business and fashion label, a huge surprise to the fashion community that has supported and adored his designs and custom pieces for years. Following the foreclosure of Barney’s, the company that picked him up and made House of Z the celebrity label in the mid-2000s, Zac Posen ceased production–effective immediately.

The story is one of many designers are familiar with. In this changing time of fashion—with an emphasis on the progressive ideals of inclusivity, sustainability, ethics, and the future of fashion—many designers that came into the business during the high-times of the fashion industry couldn’t readjust their mold to fit in.

At the turn of the century and through the decade, the rise of tabloids, gossip columns online, and the eventual industry changer of social media meant designers were being talked about more than ever. Celebrities were asked who they were wearing, models became A-listers, and reality TV gave an inside scoop into the 1%’s wardrobe.

Spawning from this new industry, programs dedicated to fashion, red carpet pre-shows, more media attention, and high-end brands gained fast traction. Enter: Zac Posen.

Coming into the world of fashion when magazines held court over “what’s hot and not” and department stores were a holy grail of malls, Posen was able to capitalize. The decision-makers of the fashion world gave one look to his extravagant designs for red carpets and granted him the stamp of approval; he was in.

But now, with online shopping, unique and intricate pieces stealing the limelight and celebrities promoting lesser-known brands focused on ideals, some major designers have faced difficulty, including Posen, whose investors had been trying to sell their company stakes. Aware of the changing landscape, Posen attempted to adjust to remain relevant but his efforts proved futile.

Perhaps some time away will give him the chance to restructure and come back ready to take on a more demanding clientele. And perhaps, the weekend of goodbye’s to Barney’s and Posen will serve as yet another wake-up call to the crumbling world of top-fashion.