Saved by sari
How a Hot $100 Million Design Startup Collapsed Overnight
Lavish Parties, Greedy Pols and Panic Rooms: How the ‘Apple of Pot’ Collapsed
politico.compolitico.com
Ultimately, Proenza’s fortunes unravelled for many of the same reasons so many of its peers are no longer in business: misallocation of funds, disagreements with investors, seismic shifts in the industry at large, and a fashion ecosystem that did a poor job of preparing young designers for the realities of entrepreneurship.