And another one bites the dust. According to
WWD
, Susan Dell's smart, highly architectural Phi label is shutting down. Known for making interesting shapes out of unexpected materials, the young label developed a serious following after its debut in 2003. But these days, a following just isn't enough to support long-term success. The company will be closing its Greene Street boutique at the end of next month due to current economic conditions, but not before delivering us with one last hurray in the pre-spring collection. We're anticipating that Phi's creative director Andreas Melbostad takes a cue from Lacroix, so we're expecting that Phi will definitely go out with a bang. Au revoir, Phi. (WWD)