They said/We said: The beginning of the end for Vena Cava?
In news that is not totally surprising but sad nonetheless, Vena Cava is reported to be in extreme financial trouble, and on the brink of collapse. After the design duo of Sophie Buhai and Lisa Mayock didn’t show in Spring 2012 fashion week, except to a small gathering of friends and family, rumours swirled of financial difficulties and the effect of the ambiguous and negative reviews by the likes of the New York Times that their past collection received.
Reports are saying that negotiations with a major investor broke down earlier this month, leaving their financial state “drastic” and in need of saving. At this point, the company needs an angel investor (who would need a halo, for sure) or partner to bail them out.
So far, everyone is staying as positive as they can. “We love what we built with Vena Cava and are dedicated to seeing it thrive and grow. We have had some very positive talks from potential partners and feel confident about moving forward,” Mayock stated, and the company still has a deal with T.J. Maxx in the works. Fashionologie, though, is reporting that, “According to a source close to the situation, the label moved out of their Soho headquarters this week and laid off a lot of staff.” Hopefully they’re just getting rid of some overhead, and will pull through these tough times.
THEY SAID…
The Cut: “The Barneys website currently offers only one item by the label — a black dress marked down by over 50 percent. … Hopefully holiday sales will prove strong and a new investor will help the company sort things out.” [The Cut]
Racked: “Well, we have no problem doing our part to help, which includes buying this, this, and definitely this.” [Racked]
WE SAID…
Randi Bergman, online editor: “While this might have been brewing for a while now, I can’t help but be shocked by the duo’s so-called demise. It was only a few years ago that Mayock and Buhai were the bright young things on the scene, and I really find it hard to believe that all that positive energy and attention is just going to wash down the drain given how wearable and seriously It girl their clothes are.”
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