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Band Of Outsiders To Close
Los-Angeles based brand Band of Outsiders has announced it will auction off
its intellectual property rights and inventory.
Back in May, reports surfaced that the brand laid off the majority of its
staff and canceled all fall wholesale orders. Multiple sources had already told
Fashionista that the brand was "done."
The brand's official website is no longer available.
WWD reported on Thursday that Band of Outsiders closed because it could
reportedly not pay off its debts. The auction will be held by CLCC S.A. — the
Belgian fashion fund that has served as the brand's creditor — on Wednesday,
July 29.
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Back in February, Band of Outsiders didn't show its fall 2015 collection at
New York Fashion Week, skipping the event for the second consecutive season.
Scott Sternberg, the brand's designer, canceled all fall wholesale orders and
did not produce his next collection because of low funds.
For the spring 2014 season, Sternberg celebrated the opening of his Soho
flagship boutique during NYFW, but did not show his spring 2015 collection on
the runway.
The designer founded Band of Outsiders in 2004 as a men's tie and shirting
company. After only six years, Band of Outsiders was gaining annual sales of
about $12 million.
"I'm just trying to maintain an honest and growing dialogue with people,"
Sternberg told the The Wall Street Journal in March 2010. "Over time, the plan
is to offer a wider range of products and price points, and I don't think that
at all compromises the dialogue."
In 2007, Band of Outsiders launched a womenswear collection, and was a
CFDA/Vogue Fashion Fund nominee the following year.
Band of Outsiders opened its first store in Tokyo in 2013. The brand debuted
its first U.S. store in New York for fall 2014.
