News Flash! Peter Som Resigns and Tells Bill Blass to Kiss His...

That was fast! According to WWD, just a year to the day he joined the company, Peter Som has reportedly resigned as creative director at Bill Blass.

Bill Blass’ decision to scrap the September fashion show in Bryant Park, due to financial woes was said to be the last straw for Som, according to industry sources. Apparently, the label has been on the block for months, prompted in part by angry shareholders at its cash-strapped parent company NexCen Brands Inc.

Som had been trying to update the label with what he called “simple and effortless clothes that embody luxury. Thakfully, during his yearlong run at Blass, Som continued to design his own signature collection.

Something tells us this will not be the first relationship to sour in this economy.

Update: It seems Anna Wintour talked Som into staying, at least according to the NY Post. Stay tuned.

Source: WWD