There has been an official announcement from Stitch Ministry, a fashion brand from New Zealand that, it would be soon putting down its shutters.
The brand was famous for its womenвЂ™s wear that closely followed the changing trends.
The firm stated that its decision to close down has come on the back of the tough competition prevailing in the market and lack of fund.
The brand presented its collection at the New Zealand Fashion Week in 2008 and 2009. Also, it succeeded in drawing international attention, with the stockists from Ireland and UK showing interest in the brand, after successfully organizing a trade show in London.
The firm was just getting ready to launch itself as an international brand.
Though any further details were not released, but the company pointed out that capital investment is a must for any budding enterprise, and right now the conditions are very stringent in the market.
It would get in direct touch with its stakeholders within a monthвЂ™s time to make them aware about the way the company is going to close down.