Alber Elbaz's fashion brand, AZ Factory, is shutting down, but not in a bad way.
Instead, it's launching a new educational program called AZ Academy: Business for Designers, reports Women's Wear Daily.
"Through this program, Richemont reaffirms its commitment to support independent creation, in direct continuation of the story started with AZ Factory together with Alber Elbaz," says Philippe Fortunato, chief executive officer of Richemont's fashion and accessories maisons.
AZ Factory was launched in 2019 by Richemont, the Swiss luxury group, and Elbaz, the late fashion designer.
Elbaz's first designs were released in January and were followed by a series of "guest amigos" who collaborated on future designs.
AZ Factory's online store, which had been shipping worldwide, is expected to close at the end of July.
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