DVF's UK business enters administration
25 May 2020
The latest brand to enter the running list of coronavirus bankruptcies is Diane von Furstenberg, the posh founder of the infamous wrap dress. DVF Studio, the brand’s UK business, has gone into administration and its Mayfair flagship store on Bruton street, which closed during the pandemic, will be permanently shuttered.
“DVF is resetting its business model and that, unfortunately, has resulted in a decision to close our store in Mayfair, London. We are continuing to invest in e-commerce and the DVF.com platform and remain committed to support our loyal customers in addition to our global network of franchise partners and wholesale accounts,” Andrew Stokoe, the brand’s Finance Director, said in a statement. “We particularly look forward to welcoming our U.K. clients to our points of sale in Selfridges, Harvey Nichols and Harrods.”
According to The Times, Diane von Furstenberg sent a letter to her U.K. clients, saying “it’s with a lot of sadness that DVF U.K. had to close due to the very difficult present situation. DVF.com continues to be at your service, and I will stay in touch to let you know of our future adventures.
I thank you from the bottom of my heart for your loyalty and support. See you soon. Love is life. Diane.”
DVF’s parent company, DVF Studio LLC, registered a loss of 22.1 million dollars in 2019, reported WWD. In February DVF announced it would enter the rental market, launching a subscription service through its online platform dvflink.com.
Keep up-to-date on news in the fast-moving fashion world by subscribing to our newsletter! Click here >>
Photo: DVF website