Clothing brand and retailer Opening Ceremony (USA) will shut down all of its multi-brand stores in NYC, Los Angeles and Japan by the end of 2020.

 

The brand has been a cult favorite since it launched in 2002.

 

Opening Ceremony will continue to operate as a single brand under the leadership of Italian fashion company New Guards Group, which is owned by Farfetch. On Monday, the Milan-based holding company — which backs street style brands like Off-White, Palm Angels and Heron Preston — acquired Opening Ceremony.