Luxury brand LBV. has announced that it will be closing its doors almost one year on from its expansion into the mass consumer segment.
Despite a refreshed image, the brand had already been steeped in controversy from the beginning, an element that it had notably marketed itself on, stating in a press release on its expansion that it was “never a stranger to controversy”.
The brand was initially founded back in 2019 by Joss Sackler, member of the Sackler family who oversees the controversial pharmaceutical company Purdue Pharma, a manufacturer of the addictive pain medication OxyContin.
Following its debut, Sackler found herself in a public feud with musician and recovering opioid addict Courtney Love, who claimed to have turned down a monetary offer from Sackler to attend a fashion show by LBV.
It must be noted that Sackler has maintained that the brand has no relation to Purdue Pharma.
LBV. explores new segment
In a possible attempt to refresh its image and attract new customers, LBV. expanded its presence to create clothing for the mass market consumer space, offering up a “high-end collection” that attempted to offer “a taste of luxury” at affordable prices.
Designed alongside the label’s creative director and co-founder Elizabeth Kennedy, the ready-to-wear line stepped away from LBV.’s typical runway looks through mix and match daywear pieces from a range of categories, including outerwear, knitwear and suiting.
However, it now seems that the new concept also didn’t resonate with consumers, as both Kennedy and Sackler have announced the decision to shutter the label.
In a statement on the brand’s e-commerce website, the duo said: “Today, LBV closes its doors. As founders, our attachment to this company is immovable.
“We wish to take a moment and write this final caption to praise our team, which we were so fortunate to have had as colleagues over the last four years.”
Kennedy and Sackler went on to thank supporters of the brand from various areas of the industry, as well as its customers.
They concluded: “We are very fortunate to have embarked on such a wonderful journey with all of you, to make the clothes that will forever be known as LBV.”