^The Fashion Fix^ – 11th November 2019
Inside The Fashion Fix this week, we find out the talented recipient of the CFDA/Vogue Fashion Fund; discover that Prada is the first luxury label to sign a sustainability deal and hear the news that Zac Posen announces closure of his eponymous fashion brand.
Winner of the CFDA/Vogue Fashion Fund Announced
Christopher John Rogers, a talented, Brooklyn-based fashion designer has become the acclaimed winner of the CFDA/Vogue Fashion Fund 2019. Christopher follows in the steps of emerging industry influences including Public School’s Dao-Yi Chow, Proenza Schouler’s Jack McCollough and Lazaro Hernandez, Alexander Wang, and Pyer Moss’ Kerby Jean-Raymond, who was awarded the title last year.
25-year-old Rogers won 400,000 US dollars and has previously been named one of America’s most promising design talents, following his effervescent and exultant collection during New York Fashion Week in September that showcased exaggerated church hats and organza ruffles.
Prada Signs Sustainability Deal
Worth $50m (£43), Italian luxury house Prada has signed a five-year loan with financial services company Crédit Agricole Group in an endeavour to pioneer sustainability.
The deal that has been confirmed is allegedly the first of its kind in the luxury industry, permitting Prada to annually change its interest rates providing it accomplishes assured eco-friendly purposes.
Alessandra Cozzani, chief financial officer at Prada, clarified the implication of the sustainability loan: “This transaction demonstrates that sustainability is a key element for the development of the Prada Group, increasingly integrated into our strategy.”
Zac Posen Closes His Eponymous Fashion Label
After 18-years following on from the launch of his eponymous label, designer Zac Posen has declared the closure of his fashion brand.
The decision was outlined in a press release unveiled by the brand, saying they would close “following a comprehensive strategic and financial review of the businesses and pursuit of a going-concern sale process”. Posen says in a statement he aspires to attain “a long career ahead”, stating: “Now, this is a new stage.”
Until next time, xoxo, Katie