The London-based couturier best known for its curve-hugging “Galaxy” dress has entered administration as the market for high-end occasion-wear continues to struggle, BoF has confirmed.
Administrators and movers were seen emptying Roland Mouret’s boutique and headquarters in London’s Mayfair of valuable items Thursday, according to the Daily Mail. Around 50 staff are being let go, WWD reported citing unnamed industry sources.
French-born Mouret’s frocks, known for their body-smoothing structure and often topped with an origami-folded cap sleeve, became celebrity favourites starting with the release of his “Galaxy” silhouette in 2005. Victoria Beckham, Scarlett Johansson, the Duchesses of Cambridge and countless Real Housewives on Bravo have sported the look, which is at once sexy and ladylike.
Mouret made a profit of £950,000 ($1.3 million) on sales of £16 million in 2019, according to the brand’s filing to the U.K. companies register.
But the company took a hefty hit during the pandemic, which put glitzy soirées on hold and saw tourism from wealthy international visitors to London collapse. Sky News and The Sunday Times both published reports earlier this fall that the company was preparing to call in insolvency experts as it struggled to bounce back.
At the same time, Mouret continued to launch new projects, including a short fashion film and activewear line. He told The Financial Times in September he planned to be fashion’s “last man standing.”
Roland Mouret’s collapse follows that of another high-end London couturier, Ralph and Russo, which announced it was entering administration in May.
Representatives for Roland Mouret did not respond to a request for comment. Grosvenor, the brand’s landlord and an investor, declined to comment.
Financial advisory Grant Thornton has been appointed to manage the administration, a person familiar with the matter said. The firm did not immediately respond to a request for comment.
The pandemic has had profound repercussions across the supply chains of suit makers and formalwear designers.