Opening Ceremony To Close Its Stores

Opening Ceremony has made the decision to close all stores, following an acquisition by New Guards Group.

The brand, once considered one of fashion's buzziest labels, will shutter its four standalone shops - its original outpost on New York's Howard Street along with a shop inside the city's Ace Hotel, as well as a store on La Cienega Boulevard in Los Angeles and another in Omotesando in Tokyo. Co-founders Carol Lim and Humberto Leon said they are “stepping back from multi-brand retail” to concentrate on expanding the “Opening Ceremony collection and brand”.

The Business of Fashion reports that the site will now be sold via Farfetch. New owners New Guards Group will move production to its Milan headquarters and will also own a showroom for the brand in Paris.

Related article: Opening Ceremony On Fashion Meets Food, Diversity And Inclusiveness

Lim and Leon opened their first store in 2002, and it became a launchpad for new designers such as Alexander Wang and Proenza Schouler.

“Our stores in New York, Los Angeles, London and Tokyo have connected people from around the world together and brought so much joy into our lives and to the lives of those who have come through our doors,” said the designers in a statement. "We are stepping back from multi-brand retail for a moment, so we can come back with an experience that is just as inspiring, filled with love and relevant for the years ahead as Opening Ceremony has been."

Related article: Catch Opening Ceremony, Esu Lee And Judy Joo On Martell Home Live

The two plan on returning to bricks and mortar stores in the future “but with a different mind-set and perspective in order to wow people are who self-proclaimed shop-til-we-drops like us.”

New Guards Group acquired Opening Ceremony's trademark and intellectual property. earlier this week. The conglomerate is owned by Farfetch.

This article originally appeared on Harper's BAZAAR US.

Related article: Carol Lim And Humberto Leon Exit Kenzo After 8 Years