New York - Vionnet announced through a press note on Tuesday that it will go through a voluntary liquidation process. The release explains that Vionnet Srl and its holding company NVO Srl will close operations with the intention to further sustainability.

The French fashion house has been in operation since its founding by Madeleine Vionnet in 1912. Since 2012, businesswoman and socialite Goga Ashkenazi has served as the brand’s chairwoman and creative director. In the press release, she stated that the decision to liquidate Vionnet “was made following the brand's commitment to sustainability."

Goga Ashkenazi’s first sustainable move with Vionnet was a capsule collection in collaboration with British artist Marc Quinn. The collection, was made entirely from sustainable materials, and 50 percent of the collection’s profits went to Parley For The Oceans to help clean the world’s oceans.

WWD reports that Ashkenazi intends to reorganize the Vionnet brand to focus on sustainable fashion.

She told WWD, “With the experience and acquired wisdom in the turbulent environment of today’s transformed fashion industry, Vionnet has decided to redefine its activities in the light of Madeleine Vionnet’s timeless heritage and entrepreneurial vision and courage and engage in innovative ways pursuant to sustainable development strategies. We see it as the only way forward for us and humanity as a whole.”