House of Deréon, the clothing label founded by Beyoncé and her mother Tina Knowles, is reported to be in some trouble. Since 2010, the label has been owned by Li & Fung, the Hong Kong-based sourcing giants, with Beyoncé and Knowles under long-term contracts to endorse the brand. Word is that Li & Fung just fired "many" of the company's 15 U.S. employees:Retail sales of the brand have slipped considerably from their peak of $100 million, according to a source familiar with the current situation. At one point, the House of Deréon and Deréon labels were carried at Bloomingdale's and Macy's, but after that business faltered it was sold to more mass accounts like Burlington Coat Factory, the source said.
Ready-to-Wear and Sportswear - Media - WWD.com