Thakoon to pause operations

American designer Thakoon Panichgul and investor partner Bright Fame Fashion are to put Thakoon's brand operations on hold.

The Hong Kong-based investment vehicle acquired the company in 2015, led by Vivian Chou. Chou and Thakoon Panichgul, the label's founder, are taking time to restructure the brand, which has adopted a 'see now, buy now' model, or 'designer fashion now' as the brand states, but has struggled to profitably sync with consumers.

Bright Fame Fashion stated its company has been building a big investment portfolio, including fashion and tech sectors, of which the Thakoon brand was one of its first acquisitions. In a press release it said: “We have recognized that the business model is ahead of the current retail environment. Therefore, we are taking a pause and an eventual restructure."

The brand aims to find a viable business model

Thakoon Panichgul stated: “It was time for my brand to explore a new business model and this opportunity allowed us to do so. We can now take the learnings from this to apply to the next evolution of Thakoon.”

The company attempted to revolutionize modern luxury shopping by giving customers instant access to current styles, available in small drops on its website and its flagship store in New York.

According to the Business of Fashion, Thakoon struggled to to keep up with price and newness demand. In the digital age savvy consumer have high expectations, perhaps too high for a brand aiming to cater direct-to-consumer instead of wholesale, but not fulfilling the need for frequent 'newness' enough.

Thakoon Panichgul is a Thai-American fashion designer who began his career as a fashion writer before enrolling at New York's Parsons School of Design. In 2004 Panichgul produced his first ready to wear collection and quickly gained notoriety in the fashion press. In 2007 he produced a fashion line for The Gap after being singled out by Anna Wintour of Vogue Magazine, as chronicled in the 2009 American documentary film, The September Issue.

Photo credit: Thakoon, source: Thakoon Facebook