Sunday, October 18, 2009
Yamamoto Files for Bankruptcy
Christian Lacroix may finally be bailed out of his financial woes, but another iconic fashion house is just beginning. Yohji Yamamoto Inc. filed for bankruptcy protection in Japan on Friday October 9, listing debts of six billion yen, equal to US$67.8 million.
According to a company spokeswoman in Tokyo, the company will continue to operate while under bankruptcy protection, though there was no word on how the move might affect Yohji Yamamoto's collaboration with Adidas, Y-3.
Yamamoto showed his spring 2010 collection in Paris to a smaller crowd than usual, an indication of his scaling back. The collection was critically lauded, although some reviews noted a more commercial bent than his often conceptualized offerings.
Born in Tokyo, Japan, Yamamoto studied at Pawat Kaio University, then helped his mother with her dress shop. He started his own company in 1972, producing his first collection in Tokyo in 1976. After some time in Paris, he opened a new headquarters in London in 1987. He designs loose, functional clothes for men and women, featuring a great deal of black, which conceal rather than emphasize the body.