Band of Outsiders to auction off intellectual property and remaining inventory
By Kristopher Fraser
Jul 27, 2015
For those who are still recovering from the end of indie fashion label Band of Outsiders, which FashionUnited reported on last month, perhaps there is a small glimmer of hope. Last Thursday, a notice in The Wall Street Journal and WWD announced that all of Band of Outsiders remaining intellectual property — which includes the brand name and trademarks — along with their remaining inventory will be auctioned off on July 29. Belgian fashion fund CLCC S.A., who is also Band of Outsider's creditor, will be holding the auction.
For many, the demise of Band of Outsiders was a bit of a surprise. In late May, the brand cancelled all their fall orders and laid off the majority of its staff. Many had speculated that Band of Outsiders was in trouble when rumors started swirling that they had difficult paying back their debts.
Auction for Band of Outsiders intellectual property rights to be held July 29
After the news of the layoffs and cancellation broke, many in the industry had speculated what was going to happen with Band of Outsiders. Their store in Soho on Wooster Street remained open amidst this controversy, and finally closed in late June. Band of Outsiders founder Scott Sternberg finally took to Instagram to address the end of Band of Outsiders, although at the time he said he was unclear of the future of the brand.
What will happen with Band of Outsiders now rests on who will will the intellectual property rights and inventory on July 29. It is possible the brand could come back in a very different way, with an entirely new team, new investors, and a new aesthetic. There is no telling if or what the timeline for that would be at the current time, but, brand's are known to shutter and come back in a variety of different ways (i.e. Vionnet, Schiaparelli, etc.)