Models backstageOpening Ceremony show, Backstage, Disneyland, Anaheim, USA - 07 Mar 2018

Opening Ceremony is cutting back.

The company laid off 23 employees last week, seeking to put its money to work where it would do the most good.

Carol Lim, who founded the business with Humberto Leon in 2002, said they were trying to “streamline and be smart” and take the right steps to “ensure the future” of the business.

The cuts, which included some layoffs on the design staff, came from across the business.

“These are never easy decisions and we obviously are supportive and thankful for the team that we have,” Lim said. “It was something we felt was actually right for the business and we wanted to remain nimble and productive and do something from a position of strength.

“We’re continuing to do the things that are core to our business,” she said. “Retail is still a focus, we’re not planning to open stores this year, but that’s still part of our plan. And retail is growing. We’re superexcited about the strength of the collection.”

Opening Ceremony has something of an unusual positioning in the industry, acting as brand, retailer and collaborator, recently with Disney.

“Change is what we embrace and we look to see how we are doing, how are we going through our process and is this the right way to do it,” Lim said.

Opening Ceremony took an investment four years ago from Berkshire Partners, which has helped the company develop its operations.

The company was out testing the market for a new investor earlier this year after having received some expressions of interest.

Leon and Lim’s first store on Howard Street in New York’s SoHo neighborhood was supposed to serve as a fashion Olympics with small designers from countries around the world sharing space with the big brands.

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