Four years after selling his eponymous brand to Castanea Partners, Donald Pliner is leaving to pursue new ventures.
“It is with bittersweet emotions that I announce that I have decided to leave the company I founded,” said the designer in a statement. “I am proud of having built a high-quality and innovative luxury footwear brand and wish to thank my loyal customers and followers. I will continue to be a shareholder and will be fully supportive of the company and the brand as I begin this next chapter of my life.”
In 2011, Castanea Partners inked a deal for the label, founded in 1989. The purchase price was not disclosed, but sources pegged the transaction at $35 million to $50 million.
At that time, Pliner told FN: “We will have the people and finances now to do what we have to do to source this properly,” said Pliner. “I’ve been running this by myself. They have the ability to run this as a big business. The players are all there, and the potential is phenomenal.”
Reached by phone on Tuesday, Pliner did not elaborate on his plans for his next chapter. The designer, who is writing a book, heads to Europe this week to finalize his spring ’16 Donald and Lisa Signature line.
Pliner’s wife, Lisa, who is also leaving the company, designed a separate collection called Lisa F. Pliner.