Farfetch's New Guards Group Acquires Opening Ceremony, Stores To Close

Humberto Leon and Carol Lim are closing their Opening Ceremony stores in New York, Los Angeles and Japan sometime in 2020. The announcement comes just one day after the New Guards Group, owned by Farfetch announced that it had acquired the brand. Opening Ceremony will complement its other streetwear brands including Off-White, Heron Preston, Palm Angels and now Yoon Ahn and Verbal’s AMBUSH labe.

In two Instagram posts, Opening Ceremony celebrated how much has changed since 2002. “Ultimately, in this time of immense change in the way that people shop, we still believe in the power of passionate and unique retail,” the caption read. “But we also believe in the necessity for change, reflection and an opportunity to refresh.”