The success of online retailing and fast fashion oiled the wheels for BCBG headlines saying Is BCBG Going Out Of Business 2024? Well, BCBG is a global fashion house that contains over 20 brands, so this took its fans by surprise.
Now, it is true that the fashion brand’s fans once included celebrities like Angelina Jolie, Eva Mendes, Rachel Bilson, Kate Winslet, and Alicia Keys. However, those days are long for the brand.
Max Azria, a Tunisian-Jewish-born American fashion designer, founded the contemporary women’s clothing brand named BCBG MAX AZRIA GROUP. The brand was founded in 1989 and the first boutique was opened in Los Angeles in 1993.
He named the brand after a Parisian slang ‘bon chic, bon genre’, which means ‘good style, good attitude’.
The brand then flourished well making its way to celebrity fashion fans like Angelina Jolie and Kate Winslet.
What Is The Difference Between BCBG MAX AZRIA And BCBGeneration?
BCBGeneration has lower price points and caters to the younger generation between 20 to 30. It includes clothes that are more casual and can be used for day-to-day use.
On the other hand, BCBG MAX AZRIA is an umbrella that consists of BCBGeneration, and Herve Leger by Max Azria. It is more expensive and consists of high-end products that are more expensive as compared to BCBGeneration.
Is BCBG Going Out Of Business 2024?
It is true that many people became skeptical about the future of the global fashion brand after it filed for bankruptcy in 2017. However, the company has now recovered and has raised itself from bankruptcy.
Therefore, no BCBG is not going out of business 2024.
Seth Lubove, a spokesperson at Sitrick & Company explained that the brand should now realign its business to effectively compete in today’s shopping atmosphere. The realignment will mean reducing the free-standing stores while increasing the brand’s focus on building an online presence.
Who Owns BCBG?
Marquee, which owns Bruno Magli, Martha Stewart, and Destination Maternity, announced that it is taking the license of BCBG MAX AZRIA and BCBGeneration back from the bankrupt Centric Brands Inc.
Marquee has planned to add BCBG Group to the Marquee-Direct Platform, which will integrate all of the Marquee brands under one digital organization.
In 2017, Marquee was the brand that took BCBG Max Azria Group, LLC out of bankruptcy. It obtained all the rights of BCBG Max Azria Group with the goal of expanding into additional lifestyle categories.
What Happened To BCBG?
The world is walking towards online shopping, and as a result, physical stores like BCBG are being affected by it.
However, before the rise of online shopping, BCBGMAXAZRIAGROUP was a flourishing brand. Its portfolio included BCBGMAXAZRIA, Herve Leger by Max Azria, and BCBGerneration. However, all these brands struggled to meet the changing preferences of their customers.
As a result, the decreasing sales made BCBG fall into the pit of $685 million in debt. In 2015, the brand investors helped it with $135 million to restructure the debt, but the challenge was still not over for BCBG.
In January 2017, the brand hired AlixPartner LP to tackle these challenges. However, bankruptcy was inevitable for BCBG, and it eventually filed for Chapter 11 Bankruptcy protection on March 1.
Which Other Brands Are Closing In 2024?
It’s like America has been hit by a wave of retail brand closures, as 20 major retail brands have announced that they are closing in 2024.
These brands include:
- Bed Bath & Beyond
- Foot Locker
- Tuesday Morning
- CVS Pharmacy
- Rite Aid
- Christmas Tree Shops
- Bath & Body Works
- Old Navy
- Party City
- Gap And Banana Republic
- Best Buy
- Big Lots
- The RealReal
The BCBGMAXAZRIA Group, which once so flourished that its fans included Angelina Jolie, is now in the headlines saying, “Is BCBG going out of business 2024?”
This is a result of the troubles that BCBG was going through for many years after it filed for bankruptcy. And to be honest, BCBG is not the first brand to be hit by online shopping, and neither will it be the last.
What does BCBG stands for?
BCBG is named after a Parisian slang “bon chic, bon genre,” which means “good style, good attitude.”
How many stores does BCBG currently has?
BCBG has 38 stores in the United States. California is the state which has the most number of BCBG stores. It has a total of 9 stores.
Who owns Marquee Brand?
Marquee Brand is owned by investor funds called Neuburger Barman. This investor fund is also responsible for managing the brand.