French fashion label Rochas which was founded in 1924 will be shut down.
Protor and Gamble, which owns the house, made the announcement despite a valiant attempt by creative director Olivier Theyskens to revive the label.
The award winning designer took over the label in 2003 and also won the CDFA International Award this year but the company was still making financial losses.
Celebrity fans of his designs included Sarah Jessica Parker and Kirsten Dunst.
Influential US Vogue Editor Anna Wintour told vogue online that she was sad to hear about the demise of the label and hopes that Theysken will continue to shine in the fashion industry.
She said: Olivier is one of our brightest young talents on an international platform. He has taken enormous care to build that brand in a slow and methodical way so that the fashion customer totally understands what the Rochas signature looks are."