The London fashion designer best known for her bodycon “Galaxy” dress has entered administration as the high-end second-hand clothing market continues to struggle, BoF confirmed.
Administrators and movers were seen clearing Roland Mouret’s shop and headquarters in London’s Mayfair of valuables on Thursday, according to the Daily mail. About fifty employees are made redundant, WWD said he cited anonymous industry sources.
French-origin Mouret dresses, known for their body-smoothing structure and often topped with an origami folded hooded sleeve, became celebrity favorites with the release of her “Galaxy” silhouette in 2005. Victoria Beckham, Scarlett Johansson, the Duchesses of Cambridge and countless Real housewives on Bravo sported the sexy yet feminine look.
Mouret made a profit of Â£ 950,000 ($ 1.3million) on sales of Â£ 16million in 2019, according to the trademark filing with the UK Companies Register.
But the business has taken a hard hit during the pandemic, which put glitzy parties on hold and saw tourism from wealthy international visitors to London plummet. Sky News and The Sunday Times both published reports earlier this fall that the company was preparing to bring in insolvency experts as it struggled to bounce back.
At the same time, Mouret continues to launch new projects, including a fashion short film and a line of sportswear. He said The Financial Times in September, he planned to be fashion’s âlast man standingâ.
Roland Mouret’s collapse follows that of another high-end London fashion designer, Ralph and Russo, who announced he would take office in May.
Representatives for Roland Mouret did not respond to a request for comment. Grosvenor, brand owner and investor, refused to comment.
Financial adviser Grant Thornton has been appointed to handle the administration, a person familiar with the matter said. The company did not immediately respond to a request for comment.
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