WWD reports, after 16 years in business, and "amid a breach-of-contract lawsuit filed against Fred Segal’s owners, Fred Segal and his son, Michael, by the business’ co-founders and licensees, Michael Baruch and Paul DéArmas" Fred Segal Beauty in Santa Monica will be shuttering, along with its educational arm, Fred Segal Workshop, the Fred Segal Agency, which reps its stylist for editorial and Hollywood work, its mobile services business, and the spa.
Baruch and DéArmas contend that they "invested at least $1.2 million in developing a Melrose location, $1.3 million in creating a product line and $1.5 million in renovating the Santa Monica location," and then the Segals "rebuffed" plans "to open a second space adjacent to the Fred Segal location on Melrose Avenue and to establish a branded product line, after initial assurances they could proceed." They want to be compensated for their investment. The fashion trade could not get a hold of the Segals for comment.
· Fred Segal Beauty Shuttering [WWD, subscription req]
For more stories from Racked LA, go to la.racked.com.