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NEW YORK — Katayone Adeli is shutting down, at least for now.
A spokeswoman for the designer confirmed that Adeli would close her six-year-old signature business and her Bond Street store, but could not provide further details on Wednesday. She said Adeli hopes to be able to restructure the business, but that it would not be possible for the designer to complete the orders she received for fall and that some of her staff was being let go this week.
Adeli launched her business in November 1996 after designing the Los Angeles contemporary sportswear collection Parallel, which had become a big retail success under her direction with sales of about $25 million at the time. Under her own label, Adeli initially targeted a hybrid of the contemporary and bridge markets, but with a designer-minded product that often crossed into the higher realms of sportswear pricing.
She started the business with Sean Barron, who had been president of Parallel, and was quickly championed by retailers like Barneys New York and Fred Segal, building a volume of about $3 million the first year. Within a few years, or by the time she opened the Bond Street shop in 2000, her volume had mushroomed to about $20 million, largely driven by the low-slung pants that had become a signature of New York’s downtown designer scene, which was then dominated by her retail neighbor Daryl K. As her prices also steadily increased into designer territory, Adeli spun off two additional lines, a jeans collection and a secondary brand called 2 by Katayone Adeli to cater to more customers.
Barron left the firm in 2000 and reportedly sold his share in the business to the designer. She could not be reached on Wednesday.