Montreal designer Andy Thê-Anh shutters his label

News broke yesterday that Montreal designer Andy Thê-Anh‘s four-year-old label is no more. Financial backers CATSIMA pulled the plug on the line, closing the Yorkville boutique in Toronto and turning the Cours Mont Royal location into liquidation centre for the remaining $2.8 million in stock. The sale starts today and is said to be continuing for several months. (The Montreal Mountain Street location closed earlier this fall.) Twenty people will lose their jobs.

This is surprising news, given that the line, a favourite of the socials who packed the front row at the Vietnamese-born designer’s shows, underwent a major rebranding earlier this year that included a move of the existing Yorkville store and a new shop in Toronto’s Bayview Village. Still, Thê-Anh didn’t mount a presentation at either the Toronto or Montreal Spring 2011 fashion weeks. Company president Étienne Lecompte points to the U.S. recession for a breathtaking 46 per cent drop in Spring 2011 over last year and for a hesitation in the industry to back new labels. “It’s a shame,’’ Lecompte told the Montreal Gazette. “A lot of people have really admired what Andy has been doing for the past few years. But too few people are putting their dollars out there.’’

In an industry where profit margins can be quite slim–especially in Canada’s relatively small market–the goings and comings of labels is common. Montreal’s Philippe Dubuc brought his menswear label back to life this year, and Toronto’s Arthur Mendonça, whose label closed in 2008, has sparked rumblings of a reemergence for fall 2011.

Though the company hasn’t filed for bankruptcy, according to Lecompte there are “no concrete plans” to continue. Says Thê-Anh: “I’m not sure I want to restart under Andy Thê-Anh,’’ he said. “In January, maybe I can come back. But nothing is finished so I can’t restart yet.”

See galleries of past collections from Andy Thê-Anh»

Andy Thê-Anh closes shop, stages sale Thursday [Montreal Gazette]

The post Montreal designer Andy Thê-Anh shutters his label appeared first on FASHION Magazine.