Vena Cava at Risk of Going Under *Update New Parternship Announced*

[HeatherAnne]

VENA CAVA ON THE BRINK?:

Vena Cava could be on the verge of shuttering, following the collapse of a financing deal earlier this month, sources told WWD. The company, founded by Lisa Mayock and Sophie Buhai in 2003, was in the final stages of negotiating a deal with an unnamed investor when talks broke down.

“We love what we built with Vena Cava and are dedicated to seeing it thrive and grow. We have had some very positive talks from potential partners and feel confident about moving forward,” Mayock told WWD.

However, a source close to the designers said the financial state of the company is “drastic” and that it would not move forward without an angel investor or partner stepping into the picture. The brand is sold in several dozen stores, including Barneys New York, Saks Fifth Avenue and Opening Ceremony.

wwd

Vena Cava at Risk of Going Under


Vena Cava, the label designed by indie fashion darlings Sophie Buhai and Lisa Mayock, might shutter, a source tells us. Though the label garnered a cult following among a certain set of Brooklyn girls since its debut in 2004, the loss of a major investor has reportedly put the label at risk of going under. This probably also explain why Vena Cava’s didn’t put on a spring runway show this September as they have in seasons past.



According to a source close to the situation, the label moved out of their Soho headquarters this week and laid off a lot of staff. Vena Cava hasn’t shuttered yet–they’ve moved their offices home–and we hear a deal with TJ Maxx is still in the works. Still, things seem grim, which is sad news to hear about a label we’ve always been fond of.



While requests for comment from Vena Cava have gone unanswered, an item in WWD confirms reports that the label is “on the brink” and a source tells the paper that “the financial state of the company is ‘drastic’ and that it would not move forward without an angel investor or partner stepping into the picture.” Co-designer Lisa Mayock told WWD, “We love what we built with Vena Cava and are dedicated to seeing it thrive and grow. We have had some very positive talks from potential partners and feel confident about moving forward.”



We hope they move forward, too.

fashionologie

 

[luxus]

This breaks my heart....I love Vena Cava.

 

[softgrey]

they are indeed 'fashion darlings'...
but i never really understood why...

i kind of thought this would happen several seasons ago actually...
the prices are just very high and their young, hipster fan club certainly isn't able to pay $200-300 retail for a pair of shorts!...
definitely not on a regular basis---not enough to keep them growing...

i wish them well though...
i hate to see anyone struggling financially...
it's very difficult...

 

[HeatherAnne]

This sort of reminds me of Jane Mayle going under, I feel like their clothes are targeted at the same audience and have the same vibe, and though cute are slightly overpriced for what they are. I hated to see Jane go under though, and I hope the Vena Cava girls pull through.

 

[ChrissyM]

i actually like vena cava...
they're hit or miss for me but i have a dress from them (that i got on sale at off fifth) that i love

i hope something comes through for them
i don't think they're doing anything really groundbreaking that changes the way we think about clothes and how we dress, but it would be a shame for their brand to fold.

 

[JohnRendon]

I love Vena Cava this can't be happening! I hope everything gets better selling maybe an option?

 

[HeatherAnne]

Update:

Vena Cava Announces Partnership With LF USA


NEW YORK, April 9, 2012 /PRNewswire via COMTEX/ -- Vena Cava, a leading contemporary women's fashion brand, today announced that it has entered into multi-year licensing and design agreements with LF USA, a subsidiary of Hong Kong-headquartered Li & Fung Limited, the multinational consumer goods export and logistics group.

"We are beyond excited to take Vena Cava to the next level with the support of LF USA--the industry destination for creative partnerships," said Lisa Mayock and Sophie Buhai, Founders of Vena Cava. "Their guidance and expertise will make it possible to execute the vision we have always had for Vena Cava. We look forward to building an amazing brand together."

Founded by Lisa Mayock and Sophie Buhai in 2004, Vena Cava is best known for its playful and thoughtful approach to femininity and proportion, particularly for the duo's inventive use of prints and eclectic references to the past. Soon after launch, the brand was acknowledged for its distinctive aesthetic and was awarded an Ecco Domani in 2006, back-to-back nominations for the coveted Vogue/CFDA Fashion Fund Award in 2007 and 2008 and was the runner up for the Fashion Finalist Award in 2009. Inspired by Art Deco, films of the 1970's, travel and flea market finds, Sophie Buhai and Lisa Mayock have emerged as a leading voice of the style-savvy woman and their designs have become favorites of celebrities like Natalie Portman, Blake Lively, Emma Watson, and Maggie Gyllenhaal. Their fresh perspective has led to collaborations with brands such as Gap, Converse and Uniqlo.

As part of the agreement, Lisa Mayock and Sophie Buhai will continue to oversee the creative vision for the brand, while LF USA will contribute its extensive global resources and deep retail relationships to support the growth of the brand. Vena Cava and LF USA will work closely together to expand the brand into additional product categories and broaden its distribution. The brand will be part of LF USA's Women's Apparel Group which houses other leading fashion brands such as Rachel Zoe, Ellen Tracy, Keds Apparel, Sofia Vergara, and Daisy Fuentes.

"Driven by an innovative design vision, Vena Cava is one of the most sought after young, emerging apparel brands in the industry," said Rick Darling, President of LF USA. "Lisa and Sophie's design sensibility and understanding of the millennial consumer are unique and we see tremendous opportunities to support their distinct design talent and extend the brand's influence into additional product categories. As we continue to strengthen our position as a design-driven organization, Vena Cava is a great addition to our fashion portfolio."

marketwatch.com

 

[ChrissyM]

This is great news! Thanks HeatherAnne!

It will be interesting to see how their brand goes with the guidance and backing of LF USA... I'm sure some compromises will be made, but this is surely a step in the right direction for them since they came so close to the brink...

Maybe I'll wear my one Vena Cava dress this week as a form of private celebration

 

[Psylocke]

That's great news! I'm not a huge fan of Vena Cava but I always see a few things in their collections that I really like and I think it's a shame so many young American designers are struggling financially. I find Vena Cava's designs to be quite distinct and it's good to see emerging brands like this getting the support they deserve from a group like LF USA. These days it seems to be really difficult for American brands that don't do this whole Balenciaga/Helmut Lang-inspired hipster/raver look to last more than 3 or 4 years

 

[lucy92]

i've seen a few vena cava pieces but wasnt really impressed by the band. the clothes lack structure IMO. and i sense now that it is even more irrelevant now that it has been bought by a Hong Kong based conglomerate.

 

[ChrissyM]

the Vena Cava girls did an interview with Refinery 29:
www.refinery29.com

If you haven't heard much on the Vena Cava front lately, it's because Sophie Buhai and Lisa Mayock have been toiling under the radar for the past couple seasons — and their efforts culminated in some Big News announcements earlier this month. The indie sweethearts are relocating to L.A. and partnering up with big hitters LF USA in the next phase of their brand's design life. What does that mean? It definitely doesn't mean selling out or watering down the Vena Cava vibe we've grown such affections for. We sat down with the VC ladies to talk about the team-up and what's in store for them (and you!) in upcoming months and years.

Tell us how the partnership came together.
Sophie: "It all happened very naturally but very quickly. We reached a point where we realized that in order to take the brand where we wanted it to go, we needed a strategic partner to help with the back-end. We were sick of getting caught up in logistics and wanted to spend more time on the product and on being creative. LF reached out to us. It was a strange psychic thing and everything fell into place."

Why do you think they're the best partners for you to work with right now?
Lisa: "We've been working with LF now for a few months, and it's far beyond what we had thought it might be. They're experts at sourcing, tech design, fabrication, manufacturing, and many other things that can be extremely difficult for a small brand to get a handle on. But at the same time, they understand that we're the experts when it comes to our brand and our customer, and are totally open to letting us continue to do awesome and weird branding projects like our online garage sale, non-fashion-persons' Fashion's Night Out, zines and anything else that helps our brand maintain its 'personal-ness.'"

 

[ChrissyM]

Pt 2

What are your biggest hopes for Vena Cava over the next year...the next five years?
Sophie: "We are excited to expand the collection and create a diversity of product with LF's resources. This year, we are content concentrating on really perfecting the clothing, but down the line, we have big ideas for shoes, jewelry, home, and menswear. We are going to continue with our zine and would love to one day have a store that contains a succulent garden, a juice bar, and a bourbon tasting station. We want to keep pushing the idea of what a fashion brand can be. We are very inspired by the Biba store from the '70s and they way it overlapped into so many categories. Vena Cava cat food or binoculars, anyone?"

Tell us about the lastest collection...what are we going to want for ourselves?
Lisa: "We're really psyched about our neo-noir, large-scale florals. They're bright but have an underlying dark quality — they're not too 'pretty.' The studded tuxedo with tails is another fave — it's what a female lion tamer would have worn in the '70s."

You two are really good about taking inspiration trips. Where have you been recently and what's on the agenda coming up?
Sophie: "We were last in Vietnam. We really want to visit Sante Fe, Joshua Tree, or Marfa next. The Southwest is very inspiring right now."

You recently moved back to L.A. — how has that been, and will you two continue to be bicoastal?
Sophie: "It's been a long-time dream of ours to have bicoastal headquarters. It's a very out-of-the-box idea and it's proven to be really amazing for the way our company functions. We have access to the culture of both coasts, and are now able to divide and conquer. We're back and forth a lot, and the brand has a much broader presence now. We are both from L.A. and it's a big part of Vena Cava's DNA; we are very inspired by Art Deco, Hollywood nostalgia, and makeshift garage-sale dressing. The balance between both coasts in really reflected in the product."

With both of you hailing from the West Coast, are there any plans in the works for a Vena Cava boutique?
Lisa: "We've talked about having a store from Day One. It's the fantasy we fall into talking about when we're exhausted from work, but still want to feel productive. We see it as being both a labratory to test out new ideas, and a second home where all of our favorite plants, books, records, zines, and snacks live. We have a lot of other interests beyond clothes and see this as a way to articulate that."

With the hot weather upon us, what's your best style advice for summer dressing?
Sophie: "Pale pastels and Santa Fe hues feel very refreshing right now. We just want to dress like retired writers who live in Sante Fe — the woman who has been wearing her same Mexican chemise and French sandals for 30 years...."