Boris Bidjan Saberi Is Shutting Down Operations
The company confirmed in a statement to The Business of Fashion that it will close by the end of July.
News of the label's shuttering was first revealed in a letter sent out to retail partners that was shared by blogs such as StyleZeitgeist on Thursday. In the letter, the brand said current manufacturing hurdles made it 'unviable' for the German-Persian designer to continue producing his two namesake labels, Boris Bidjan Saberi and 11 by Boris Bidjan Saberi.
'The reality is clear: under current conditions and without reallocating production, it is impossible for us to maintain operations with the standards of quality, integrity, and consistency that has always been the foundation of our project,' the brand shared in its statement to retail partners.
Launched in 2007, Saberi's label blossomed during a 2010s menswear boom that saw the rise of chic yet dark labels embracing unconventional silhouettes propelled by designers such as Saberi and Rick Owens, as well as brands such as the Viridi-anne and Julius. During the label's nearly 20-year run, it anticipated the rise of contemporary menswear trends such as 'gorpcore' by becoming one of the first fashion labels to collaborate with the outdoor brand Salomon on sneakers in 2016.
At end of the letter to retail partners, the brand shared that the closure did not signal the end of the designer's career but a transformation.
'Boris's vision, aesthetic, and spirit will continue, in other forms, in other formats, and under new structures that allow for greater exploration without compromising the essence of the brand.'
Learn more:
How Matches' Collapse Could Impact Independent Fashion
The luxury retailer's closure has far-reaching knock-on effects for independent brands. Unpaid bills for inventory have pushed some labels into dire financial straits, while confidence in other stockists like Farfetch-backed Browns has sunk to a nadir.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
3 hours ago
- Yahoo
Vivienne Westwood Limited Responds to Artists' Legal Complaint
In a court filing, Vivienne Westwood Limited has responded to the legal complaint made by three street artists that claim the designer label and Farfetch sold apparel imprinted with their artwork. Earlier this year, the graffiti specialists' complaint claimed that the British designer's company 'inexplicably, and without notice, let alone consent, prominently splashed the artists' work across their apparel in a transparent effort to lend credibility and an aura of urban cool to their apparel by co-opting the plaintiffs' special combination of graffiti style and street art.' The artists are seeking a juried trial and an unspecified amount in damages. More from WWD LeRoy Neiman's Fashion Illustrations to Be Focus of Kent State University Museum Show On This Oxford Campus, the Boys Dress With Character Fendi Opens Permanent Footwear Space at Harrods In Westwood's 14-page response, which was submitted Wednesday in the U.S. District Court in the Central District of California, Vivienne Westwood Limited, Latimo SA (an Italian arm of the company) and Vivienne Westwood Srl said they lack sufficient information to admit or deny the allegations and, therefore, those allegations are denied. The Vivienne Westwood defendants deny that they have committed any acts that violate any law. The parties noted that the apparel in question does not contain any copyright management information that is protected under the Digital Millennium Copyright Act. The legal battle is based on the outdoor street art that the artists claim was used by Westwood's company without their permission. Jeffrey Gluck, an attorney for the three artists, said Friday that the response was 'especially disappointing coming from Vivienne Westwood, who has built an entire brand and aesthetic on the backs of countercultures and rebels. To now allegedly threaten to erode the legal protection for an entire community of artists, instead of simply paying them for using their artwork, is pathetic,' Gluck said. 'The global graffiti community is not new to this fight, and they will stand up for their rights now just as they always have in the face of unjust corporate exploitation.' Gluck suggested that a fashion label had not made a similar defense since years-old copyright dispute between the street artist Revok and H&M over one of the Swedish conglomerate's advertising campaigns. In 2018, a settlement was reportedly reached that included H&M agreeing to fund a handful of Detroit art institutions and charities. Best of WWD 'Wednesday' on Netflix: All the Costumes on Jenna Ortega, Catherine Zeta-Jones and More Why Tennis Players Wear All White at Wimbledon: The Championships' Historic Dress Code Explained Kate Middleton's Looks at Trooping the Colour Through the Years [PHOTOS]
Business Insider
4 hours ago
- Business Insider
OpenAI Raises $8.3 Billion at $300 Billion Valuation
Microsoft-backed (MSFT) AI firm OpenAI has raised $8.3 billion in fresh funding at a $300 billion valuation, according to The New York Times. Indeed, the raise is part of the company's bigger $40 billion fundraising goal for 2025 and came months earlier than expected. It is worth noting that OpenAI had already secured $2.5 billion in March and initially planned to add another $7.5 billion later this year, but accelerated its timeline as investor demand surged due to the company's fast growth. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Indeed, The Information reported on Thursday that OpenAI reached $12 billion in annualized revenue and surpassed 700 million weekly active ChatGPT users. Meanwhile, the Times suggested that the number may be closer to $13 billion and could hit $20 billion by the end of the year. It also helps that the Trump administration's AI Action Plan and ongoing talks with Microsoft could push OpenAI toward its goal of becoming a fully for-profit company. As a result, the latest round was led by Dragoneer Investment Group, which invested $2.8 billion in one of its most significant bets to date. Other new backers included Blackstone (BX), TPG (TPG), and T. Rowe Price (TROW), alongside well-known firms like Andreessen Horowitz, Founders Fund, Sequoia Capital, and Fidelity. Interestingly, though, some early investors were reportedly frustrated because they received smaller allocations in this round, as OpenAI prioritized bringing in strategic partners to support its next growth phase. Is MSFT Stock a Buy? Turning to Wall Street, analysts have a Strong Buy consensus rating on MSFT stock based on 33 Buys and two Holds assigned in the last three months. Furthermore, the average MSFT price target of $614.72 per share implies 17.3% upside potential.
Yahoo
12 hours ago
- Yahoo
Perfect Corp. AI, AR subscriptions drive revenue growth
This story was originally published on Retail Dive. To receive daily news and insights, subscribe to our free daily Retail Dive newsletter. Dive Brief: Subscription revenue for Perfect Corp.'s AI and augmented reality tech grew 15.6% in Q2 to $14.9 million, according to an earnings report released Tuesday. The company attributes the increase to consistent revenue growth from its YouCam mobile app, web service subscriptions and the growing popularity of generative AI and editing tech for photos and videos. The company also noted a stable demand in its online virtual product try-on simulations for brand customers. Perfect Corp.'s clients are approaching AI with caution 'amid broader macroeconomic uncertainty,' Alice Chang, Perfect Corp.'s founder, chairwoman and CEO, said in a statement. The company maintains a 'prudent near-term outlook' for its business-to-business operations. Dive Insight: Perfect Corp., which provides virtual try-on tech across skin care, makeup, clothing and more, has more than 800 fashion and beauty brands using its digital experiences. From its mobile apps to its tech deployment, Perfect Corp. has introduced itself across various virtual try-on use cases. The company furthered its presence in the virtual try-on space with its acquisition of Wannaby from Farfetch and the expansion of its med spa partners. 'Our mobile app and web subscription business continues to demonstrate strong momentum, now growing significantly faster than our enterprise segment,' Chang said. 'B2C subscriptions have become the primary driver of our overall revenue growth, fueled by sustained demand for our photo- and video-based generative AI features.' AI hesitancy is a hurdle to the tech's takeover in the modern-day shopping journey. Over 2 in 5 Americans say they have no trust in AI shopping agents, according to a YouGov survey. However, a recent Perfect Corp. survey found that virtual try-on helps produce a 2.5 times increase in sales conversion when implemented. Recommended Reading Parsons hosts digital Roblox-branded fashion showcase Sign in to access your portfolio
