Photos courtesy of Marcio Madeira [Spring 2010 RTW]
According to WWD, PHI is closing due to the recession. The pre-spring delivery will be PHI’s last collection and the PHI boutique at 71 Greene Sreet in NYC is expected to close at the end of next month. PHI was founded by Susan Dell in 2003. Sad news, get your PHI while you can…
“It’s a really challenging climate right now for luxury goods,” said Phi chief executive officer Julia Hansen. “There is not so much confidence in that market going forward.”
The company informed staffers of the decision on Monday. According to a statement, the company will offer employees “transitional support” in the coming months while the operation is winding down.
More pics from spring 2010 after the jump…