RUSSO’S REBUTTAL: Artisan House, the New York-based contemporary handbag company, is in the process of retooling its game plan, according to chief executive officer Steve Russo.

“Artisan House’s decision to exit certain businesses such as Foley + Corinna ready-to-wear, L.A.M.B. and the Narr exotic collection were part of a strategic decision to focus our resources in our current and go-forward business portfolio,” Russo told WWD.

This story first appeared in the January 16, 2013 issue of WWD. Subscribe Today.

The statement confirmed a story reported by WWD last week that detailed the closure of the aforementioned brands, as well as the departure of several employees, including Dana Foley, cofounder of Foley + Corinna.

Russo told WWD that despite shifts at Foley + Corinna, Artisan House has “enjoyed a fruitful creative relationship with both cofounders,” and that the handbag portion of the business has “experienced double-digit increases.”

“Anna Corinna continues in her current role as the brand’s creative director,” Russo said. “Once a suitable rtw partner is secured, we will evaluate all of our creative options. The DNA of the Foley + Corinna brand is firmly intact and compelling.”

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