La fin de Phi

WWD reported today that the latest fashion industry casualty to the recession is New York-based cult label Phi, proving that lots of buzz and a high-profile following don't necessarily translate well to your financial statements. It's really a shame, they were doing some fantastic work, and sad to see another promising young label go the way of Luella. The resort collection will be the last, as the Spring 2010 collection seen on the runway will not make it to stores.


images via fashion gone rogue