Vena Cava Saved by LF USA

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Vena Cava designers Lisa Mayock and Sophie Buhai. Photo: Slaven Vlasic/2010 Getty Images/2010 Getty Images

Money troubles have plagued New York label Vena Cava for a while now. They weren't able to hold fashion shows for the past two seasons, and their financial straits were rumored to be so dire that they were reportedly selling their office furniture. But according to a press release issued by the brand this morning, Vena Cava is back from the brink thanks to a new licensing partnership with Li & Fung subsidiary LF USA, which also owns large American brands like Rachel Zoe, Sofia Vergara, Ellen Tracy, Daisy Fuentes, and Keds Apparel. Vena Cava founders Sophie Buhai and Lisa Mayock will continue to oversee the creative side of the brand, while LF USA will handle the business end. The press release also states that the brand will soon expand into new product categories, presumably to boost its profitability. It'll be interesting to see how the label (which has previously been nominated for several CFDA awards and has been carried by more than 80 retailers) evolves under the umbrella of a big international investor.