Oh wow. This comes as nothing short of a shock.
Gen Art announced that after 16 years, the business finally succumbed to the pressures of the economy. It seems as if after collaborating with a new corporate partnership which ultimately collapsed, as well majorly cutting costs for the last year and a half, there was no way to continue to business.
Gen Art was one of the world's leading arts and entertainment organizations dedicated to presenting the newest talents in fashion, music, visual arts and film. The company, with offices located in several major cities including New York and Chicago, even leveraged many into their prospective businesses, including designers Zac Posen and Philip Lim.
Just posted on Gen Art's site:
Gen Art Closes Its Doors After 16 Great Years
It is with an extremely heavy heart that we are are posting this. After struggling for the past 18 months since the economic crisis, Gen Art has finally succumbed to the recession.
During this challenging time we did everything in our power to adjust our business to these new business realities by cutting costs and seeking out alternative funding solutions. However when a major, new, corporate partnership unexpectedly
collapsed a few weeks ago, we found ourselves without sufficient resources or time to overcome this sudden and substantial loss of revenue. Their decision had the unintended effect of pushing Gen Art over the edge. We have now halted all operations, have let go all of our amazing staff, and shuttered the business that we hope was in some small way was as close to your heart – as it was ours.
We will be forever grateful for the support of so many individuals and corporate partners over the last 16 years who have believed in the vision and mission of this business. Whatever we have accomplished has been made possible through the hard work and dedication of the incredible Gen Art staff, interns and legions of volunteers who have given so much of themselves, their passion and their talents to the common causes of discovering and showcasing the new generation of talent.
It has been an incredible journey and experience.
We will always remember the good times and proudly think back on the opportunities created for so many emerging artists through the thousands of fashion shows, film screenings and festivals, live music performance, art fairs and competitions we have produced across the country since 1994.
We hope that where we have left off, others will step up to help fill the void.
Ian & Stefan Gerard
Gen Art Founders
Not surprised and we knew this was coming, but it's still a bummer. Especially for Chicago. Guess Shop CHICago is canceled May 13.
– Taneisha JordanSee the Top Ten Summer 2016 Trends for Women Over 40