Luxury retailer Opening Ceremony will shutter its entire store network this year.
The store closures follow the brand’s sale to streetwear brands conglomerate New Guards Group. Boutiques in Japan, New York and Los Angeles will close down permanently as the firm transitions to become a brand only rather than a retail operator.
“It’s incredibly emotional for us to announce today that we will be closing our Opening Ceremony retail locations sometime in 2020,” wrote founders Carol Lim and Humberto Leon on the brand’s social media page. “We’ve made a decision to focus on growing Opening Ceremony collection and brand with our new partners, New Guards Group, and expand the designs of Opening Ceremony. Our brand takes the beautiful spirit of experimentation, fun, and collaboration embodied in our stores and imbues this energy into the clothing we make.
“We know our decision may surprise you, and it may be interpreted in many different ways. Ultimately, in this time of immense change in the way that people shop, we still believe in the power of passionate and unique retail. But we also believe in the necessity for change, reflection, and an opportunity to refresh.
“We are stepping back from multi-brand retail, for a moment, so we can come back with an experience that is just as inspiring, filled with love and relevant for the years ahead as Opening Ceremony has been,” they said.
Opening Ceremony stores previously carried multiple fashion brands and had a reputation as a somewhat offbeat industry player.