Fashion

Sies Marjan Shuts Down Due to Financial Impact of COVID-19

The pandemic continues to ravage the fashion industry.

By
871 Hypes

Sies Marjan, the four-year-old label once poised to become a major player in luxury fashion, has announced that it will close due to coronavirus-related financial troubles. Launched by former Dries Van Noten designer Sander Lak in February 2016, Sies Marjan became known for its use of vibrant color and fabric. Notably, Vogues Anna Wintour attended Lak’s debut Sies Marjan runway show at New York Fashion Week.

Despite the critical success of Sies Marjan, its finances suffered a major blow when department store Barneys New York, with which the brand inked an exclusive deal, closed its doors at the end of 2019. The label, which was backed by billionaires Nancy and Howard Marks, failed to invest early enough in direct-to-consumer retail and instead relied on wholesale.

Sies Marjan will officially shutter on June 16, 2020. The brand, whose Instagram appears deactivated, issued a brief statement on its decision: “As a young independent company, we were significantly impacted by COVID-19. With a heavy heart, we have made the very difficult decision to close our business.”

In a second statement, Lak expressed gratitude for his supporters and collaborators. “What we have worked on has been a dream come true,” he wrote. “Thank you to everyone who has given their time and talent to Sies Marjan over the years. We have built a singular brand whose legacy is not just in the clothes and collections but within each person who contributed along the way.”

Read Full Article

What to Read Next

New Supreme Court Ruling Protects LGBTQ+ Employees From Job Discrimination
Culture

New Supreme Court Ruling Protects LGBTQ+ Employees From Job Discrimination

The decision follows Donald Trump’s rollback of healthcare protections for transgender patients.
358 Hypes

Matthew Williams Is Named Creative Director at Givenchy
Fashion

Matthew Williams Is Named Creative Director at Givenchy

A statement issued by Williams makes a vague reference to the Black Lives Matter movement.
587 Hypes

London-Based Keash Sets up Salon Hardship Fund
Beauty

London-Based Keash Sets up Salon Hardship Fund

“Founded from a desire to see black-owned hair businesses reach their fullest potential, Keash wants to help those who inspired it.”
299 Hypes

Alicia Keys and John Legend to Face off in 'Verzuz' Piano Battle
Music

Alicia Keys and John Legend to Face off in 'Verzuz' Piano Battle

The special edition celebrates Juneteenth.
391 Hypes

UNIQLO Releases AIRism Mask
Fashion

UNIQLO Releases AIRism Mask

Featuring three layers of protection.
21,965 Hypes

Shops Reopen in the UK Following 3-Month Lockdown
Culture

Shops Reopen in the UK Following 3-Month Lockdown

Amid concerns of a second-wave coronavirus hit.
583 Hypes

More ▾
 
Subscribe to our Newsletter

Keep updated on the latest news.

By subscribing, you agree to our Terms of Use and Privacy Policy.