Mary-Kate and Ashley Olsen’s fashion label The Row is reportedly in financial trouble.
The label, which has just been nominated for American Womenswear Designer of the Year and American Accessories Designer of the Year at the CFDA 2020 Fashion Awards, is said to be weathering financial difficulties, layoffs and the scaling back or closure of its short-lived men’s wear line, according to sources, reports WWD.
When reached for comment, label executives said the business was dealing with the aftermath of the Covid-19 pandemic.
“(The Row is) actively producing the pre-fall 2020 and fall 2020 collections, developing the spring 2021 collection and working on its expansion plans for 2021 and beyond,” they said to WWD.
“Like all retail brands, the company responsibly reduced overhead to address what we all hope will be a temporary disruption of the supply chain due to the global pandemic. The Row is steadfastly committed to and maintains a diverse and inclusive workplace. We are not going to comment on the other inaccurate gossip about our business, other than to say we are excited about The Row’s future, including our men’s wear line, accessories, our e-commerce business and our future profitability.”
According to a source, jobs have been slashed by 50 per cent at the brand, which the twins set up in 2006.
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