Celebrated fashion designer Zac Posen announces shock end to his business

Designer to the stars and reality TV fixture Zac Posen has abruptly shut down his business, just weeks after showcasing his latest collection.

Zac Posen, designer to celebrities and former “Project Runway” judge, is taking his final bow.

The 39-year-old designer known for his evening gown creations announced Friday that he’s shutting down his business, Women’s Wear Daily reports.

“The board made a difficult decision,” Posen tells WWD. “We were in a sale process and we ran out of time.”

Operations for the eponymous label are ceasing as of today and about 60 employees were informed they were being let go Friday, Vogue reports.

Posen’s company has been in the middle of a sale process, according to the magazine, and an investment firm founded by Ron Burkle was looking to sell off its stake in the label.

Designer to the stars Zac Posen with iconic supermodel Naomi Campbell. Picture: AP

Posen just showed his spring 2020 collection during New York Fashion Week in September, but the company said the items will not ship.

However, just hours before the announcement, the company tweeted that handbags from the designer’s diffusion line, Zac by Zac Posen, were available for pre-order.

The official Zac Posen website, ZacPosen.com, now leads to an empty domain page.

Zac Posen shot to stardom when he was 21 and still living with his parents. Picture: AP

The native New Yorker founded his business in 2001 when he was 21 and still living with his parents on a $15-a-day allowance.

Despite being called a “boy wonder” after a meteoric rise to fame with the help of supermodel Naomi Campbell, he was often referred to as having a “sour reputation” with comparisons to “Zoolander.”

Zac Posen and Katie Holmes attend The Metropolitan Museum of Art's Costume Institute benefit gala earlier this year. Picture: AP

Model Iman and Designer Zac Posen pictured in 2017. Picture: AFP

Posen recently designed a custom wedding gown for his famous friend, Katharine McPhee, for her July wedding to David Foster.

“I need to reflect and regroup,” Posen told Vogue, “and also to look at the world we’re living in and figure what the next move is, where I can share my creativity and my love, and build another community.”

This story originally appeared in the New York Post and is reproduced here with permission