It's the end of an era for famous retail brand that pioneered the denim bar concept and introduced Juicy Couture, Hard Candy and other SoCal labels.
The storied retailer, which has gone through many transformations over the years, has closed the last two of its five California stores, leaving only onebrand and operated the stores, announced he was hoping to open more locations in Miami and New York while eyeing China as anotherin Studio City. He also shuttered a relatively new outpost at the Marin Country Mart in Larkspur, Calif. The last to go was the Malibu store and a flagship on Sunset Boulevard in West Hollywood.
With sales declining, Lotman decided two weeks ago to return the Fred Segal worldwide master license to the family, although the businessman could have continued operating the stores for another six months, Russ said. Russ said he is now negotiating with several companies either interested in licensing the brand or acquiring it. “I am already involved in extensive discussions with various parties around the world,” he noted.
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