Sies Marjan Shuts Down Due to Financial Impact of COVID-19
The pandemic continues to ravage the fashion industry.
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, Vogue‘s 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.”
