In order for 64-year-old Max Azria, designer and owner of BCBG Max Azria Group Inc—the company that owns the Hervè Lèger, BCBG Max Azria and Max Azria fashion labels—to clear his debt, he may have to sell his name to a financial services firm.
The 25-year-old label has 1,000 locations worldwide in 46 countries, a feat partly to blame for the debt, as Azria didn’t realize the harm in borrowing large sums of money. “We have our agenda, but the finance people have their agenda,” the designer told Vogue UK. “I knew that, but I didn’t see it”
“[Lèger] just wanted someone to bankroll him… We’re not like that we want to do a partnership,” he told the Wall Street Journal.
The brand will still present during New York Fashion Week in September.