Hip fashion brand Opening Ceremony laid off 23 employees last week, telling Page Six the cuts, which included four designers, were part of restructuring.
The rest of the pink slips went to corporate staffers “in order to focus operations on core business objectives,” a rep said.
The brand was founded by Carol Lim and Humberto Leon in 2002, but has been partly owned by private equity firm Berkshire Partners since 2014.
WWD reported this year that Opening Ceremony was seeking a new investor, and the Business of Fashion reported that with the latest layoffs, half the company’s corporate staff has been cut in 2018.
One insider, angry with the way the cuts went down, told us that staff had “no warning” and “were told to leave immediately and not to expect any salary beyond the end of the pay period . . . in stark contrast to the ‘we’re all family’ company culture.”
A rep said the brand “fully complied with all applicable legal requirements.”
Lim said in a statement: “We have made a decision to streamline some of our departments to maximize efficiency and better align our cost base with our growth plan . . . Change always accompanies growth, and our goals are ambitious. We greatly appreciate our team.”
Lim and Leon also oversee LVMH label Kenzo.
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