London-based luxury womenswear designer Roksanda Ilinčić has sold her namesake label to The Brand Group, the company said Wednesday.
Citing “recent volatile market conditions,” Roksanda said it had filed a notice of intent to appoint an administrator, before finding a white knight in TBG, which describes itself as a brand management, licensing and distribution business based in Hong Kong and London. Ilinčić will remain at the brand as creative director.
Serbian-born Ilinčić founded Roksanda in 2006 and went on to become a fixture of the London Fashion Week schedule. After taking on minority investment in 2014, the brand opened a 2,500-square-foot boutique, designed by British architect David Adjaye, on London’s Mount Street. Known for its elegance and bold uses of colour, the brand attracted a following amongst the art crowd and has dressed the likes of Michelle Obama, Anne Hathaway and Lady Gaga.
“The Brand Group joins us as a valued partner at a time when Roksanda had been exploring new ways of operating in the existing luxury climate,” the brand said in a statement.
Roksanda’s rescue comes amid a turbulent time for London’s independent luxury brands, who have been hit hard by the implosion of MatchesFashion.
Learn more:
How Matches’ Collapse Could Impact Independent Fashion
The luxury retailer’s closure has far-reaching knock-on effects for independent brands. Unpaid bills for inventory have pushed some labels into dire financial straits, while confidence in other stockists like Farfetch-backed Browns has sunk to a nadir.
