Bill Blass Blasted for $10 Million

Kirby Marzec — Mon, 29 Dec 2008 17:00:12 +0000

This may be premature, but I’ll start digging the grave for clothing line, Bill Blass. With the current economic situation, NexCen dropped the label, selling its assets and licensing for a mesely $10 million. Initially, NexCen sought $25 million for the label, but let’s be real, what fashion company has that kind of money to blindly throw millions of dollars into a label that was failing to begin with? Oddly enough, a small men’s dress shirt and neckwear company, Peacock International Holdings LLC, snatched Bill Blass for $15 million less than what NexCen demanded.

My utmost respect goes out towards Peacock…it’s nice to see some optimism and hope during such difficult times. But let it be known, they certainly have their work cut out for them! Not only did NexCen shut down Bill Blass’ ready-to-wear line in mid December, laying off nearly 60 reputable employees, with the MIA Peter Som, the label didn’t have the money to finance a 2009 spring runway show! For now, i’ll have a bit of faith that Peacock can revive such a magnificent label, but that grave is ready for Bill Blass if they get themselves in too deep.

Thanks NY Mag and Style!

FashionIndie » nexcen

Bill Blass Blasted for $10 Million