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British model, influencer and TV presenter turned designer Alexa Chung is to wind down her five-year-old fashion brand after struggling to turn a profit.
“During what has been a tumultuous time for independent businesses in the retail space, I have taken the very difficult decision to wind down operations at Alexa Chung,” Chung said in an emailed statement. “I am immensely proud of everything we have achieved. It has been the most incredible experience and I have relished learning as much as I have.”
The company is winding down rather than going into administration. It was understood to be loss-making for some time, according to sources close to the brand, while company assets were valued at £196,000 in 2020, compared to £283,000 a year earlier, according to Companies House.
Chung, who collaborated with Barbour and showed twice at London Fashion Week, was reported to be reluctant to make a pivot from wholesale to direct-to-consumer to reach profitability, sources close to the brand told Vogue Business. Stockists included Net-a-Porter, Selfridges, Mytheresa and Bergdorf Goodman.
The British designer known for his form-fitting Galaxy dress and partywear is the latest casualty of the pandemic.
A number of London-based fashion labels have struggled since the onset of the pandemic. They have also been hit by rising costs caused by Brexit. Roland Mouret went into administration in November 2021, while Ralph & Russo collapsed in March 2021 with debts of close to £28 million.
“The decision to close was not taken lightly,” said Chung in an Instagram note. “Not least because I am so grateful for the passion and creativity the team at Alexa Chung brought with them everyday and the faith everyone involved had in this endeavour.”
The spring collection will continue to be available at full price via the brand’s e-commerce site until 31 March.
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