Remember the Parasuco denim cult ads? The brand and its jeans were everywhere and one of the hottest tickets in street wear when it came to the must-haves in denim fashion.
News today that Montreal based Parasuco Retail Inc. has filed for bankruptcy and will close all seven of its stores in Canada came as some surprise, but it seems to be just another name in a long list of companies that have recently announced closures including Mexx Canada, Target Corp., Smart Set and Jacob.
Parasuco’s early history can be traced back to the late 60’s when Salvatore Parasuco, who had emigrated from Italy to Canada, started dabbling with denim in his family’s washing machine, trying to create the “perfect” shade of indigo that everyone wanted by experimenting with raw denims.
Once achieved, the entrepreneur started selling jeans as a teen at high school, then out of his first retail outlet called Pour les Deux in Montreal at 19 years of age!
Parasuco eventually formulated his own brand of denim and started Santana Jeans in 1975 which featured acid wash, stretch denim and sandblasted looks. The brand eventually rebranded itself into the Parasuco name in 1988 which caught fire with its sexy marketing and unique blend of materials. Its well-known Chimera logo was a mythical fantasy creature that represented a courageous, vivacious and flamboyant spirit and was seen everywhere (remember the posters?)
Today’s announcement will affect one store in Mississauga’s Square One and a number of others that are in Quebec, although online merchandise will still be available.
Eighty employees will lose their jobs at the retail end and 70 will stay on in Montreal focusing on the wholesale, licensing and distribution of the brand.
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SOURCE: topix.com, parasuco.com