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RIP, Phi: Label Shutters

>> 2009's victim count is still rising: Phi, the downtown label founded in 2003 with quite the cult following — Erin Wasson, Carine Roitfeld, Natasha Poly, Lauren Santo Domingo, and Vanessa Traina among the fans — is the latest fallen to the recession.

"It's a really challenging climate right now for luxury goods," said Phi CEO Julia Hansen told WWD. "There is not so much confidence in that market going forward."

The Spring 2010 collection will not be delivered; the pre-Spring 2010 delivery, which arrived in stores this month will be its last.  Staffers were informed today of the label's closing, and no word on what critically acclaimed creative director Andreas Melbostad plans to do next.

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