LONDON -- A trendy fashion label here has come to the end of its journey.
Fashion retailer Voyage, which has found favor among such celebrities as Madonna, Nicole Kidman and Julia Roberts, is going into liquidation after racking up debts of approximately $4.5 million, according to liquidators Maidment Judd.
"It's now up to us to ascertain the assets of the company and start paying back the debt," said Anthony Kent, a liquidator and insolvency practitioner with Maidment Judd. "Our goal is to find a buyer for the company. Ideally, the stores will continue trading in the meantime."
The actual corporate entity is Organic Clothing Ltd., which trades under the Voyage name. It has two shops on London's Fulham Road. Voyage officials could not be reached for comment.
Kent said he would be dealing solely with Voyage's London stores. Voyage also has a unit in Paris that opened last July in partnership with Alain Adjadj. Last spring, the company opened a Hong Kong site in the shopping concourse of The Landmark hotel in partnership with Dickson Concepts Ltd. Dickson purchased the exclusive rights to the Voyage label in Hong Kong last spring.
In addition to the ultra-pricey Voyage line, the company has a diffusion line known as Passion, which is produced in Italy by Sportswear International. While retail prices for the Voyage collection go as high as $4,000, items in the Passion line are less than $500.
Voyage has sales of about $30 million to $40 million a year through wholesaling and a handful of stores in the U.S., including Bergdorf Goodman, and the U.K.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)