Less than a year and a half after striking a partnership, Peter Som and
Creative Design Studios, the division of Lord & Taylor LLC, have
decided to go separate ways.
“We have realized that our
strategic interests are no longer aligned and feel that this is the
best direction for our company at this time,” Elana Posner, who co-owns
Peter Som, Inc. with the namesake designer and serves as the company’s
chief executive officer and president, said.
Because of the
split and the current market conditions, Som will not stage a runway
show during New York Fashion Week next month.
“Peter’s talent is
enormous but the realities of today’s marketplace have forced us to
reevaluate all of our strategic partnerships," said Susan Davidson, ceo
of Creative Design Studios. "We need to focus all of our resources on
our core businesses — Lord & Taylor and The Bay department stores.”
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