This New Year is certainly the bearer of bad news it seems, first Bill Blass closes its door then Obedient sons, now Peter Som will not be showing at Fashion Week. Earlier today news came that the designer has been forced to cancel his fall 2009 Fashion Week show after splitting with Creative Design Studios, a division of Lord & Taylor LLC. The companies teamed up less than a year and a half ago. WWD reports:
“We have realized that our strategic interests are no longer aligned and feel that this is the best direction for our company at this time,” Elana Posner, who co-owns Peter Som, Inc. with the namesake designer and serves as the company's chief executive officer and president, said.
…“Peter’s talent is enormous but the realities of today’s marketplace have forced us to reevaluate all of our strategic partnerships," said Susan Davidson, CEO of Creative Design Studios. "We need to focus all of our resources on our core businesses — Lord & Taylor and The Bay department stores.”
“We have realized that our strategic interests are no longer aligned and feel that this is the best direction for our company at this time,” Elana Posner, who co-owns Peter Som, Inc. with the namesake designer and serves as the company's chief executive officer and president, said.
…“Peter’s talent is enormous but the realities of today’s marketplace have forced us to reevaluate all of our strategic partnerships," said Susan Davidson, CEO of Creative Design Studios. "We need to focus all of our resources on our core businesses — Lord & Taylor and The Bay department stores.”
What next? “New York Look” won’t be publishing their biannual Fall 2009 Fashion week edition? Oh wait! they aren’t, due to a downtown in print ads… This recession is getting atrocious!
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