Emma Watson just made red carpet magic in a vintage Ossie Clark gown at the London premiere of "Harry Potter," and it's a good thing -- looks like, going forward, vintage will be the only option for wearing the brand.

Although Ossie Clark just relaunched this year, WWD reports that the label is shutting down due to market conditions.

A celebrity favorite and serious fashion player in the Sixties and Seventies, Clark's pieces were precise and architectural, including biased-cut silhouettes and full, swingy sleeves and skirts.

Despite his designs being wildly popular, Clark's mind was more on the creative side than the business end, and the company declared bankruptcy in 1983.

The label's latest designer, Avsh Alom Gur, left after designing the Fall 2009 collection to design his own signature line.