New York fashion label Sies Marjan has closed after four years as a result of significant financial impact due to the corona pandemic.
‘As a young and independent company, we were significantly influenced by COVID-19. With a heavy heart we made the very difficult decision to close our company,’ Dutch creative director and Founder Sander Lak said in a statement.
‘What we have worked on has been a dream come true. 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,’ Lak said in a second statement to WWD expressing his gratitude to his supporters and employees.
Named after his parents, the luxury ready-to-wear label was launched by Sander Lak in 2016 with the support of American billionaire investor couple Howard and Nancy Mark with an estimated net worth of 2 billion USD. A graduate from Central Saint Martins, Lak worked for the likes of Balmain and Phillip Lim as well as Dries Van Noten serving as its creative director for five years.
In 2018, Lak also won the CFDA Swarovski Award for emerging talent. His first show for Sies Marjan which was held in the fall of 2016 was an overwhelming success. His flowing dresses and stylish designs in pastel colors and rainbow tones soon became a favorite amongst fashion aficionados and celebrities like Beyonce, Jenna Wortham, and Kelela.
Sies Marjan is not the only brand to shunt due to the ongoing measures of the global corona crisis, many fashion houses are experiencing financial setbacks with a number of brands like Gucci and Saint Laurent leaving the traditional fashion calendar behind.