News of Alexander McQueen’s suicide on the first day of the Fall-Winter 2010 Mercedes-Benz Fashion Week shook the industry, with many designers and fashion-trend-watching companies posting memorials and tributes to the London designer who has said his earliest ambitions showed when he sketched a picture of a dress at the age of 3.

McQueen, 40 at the time of his death, burst onto the scene “with a mix of aggression, energy, and creativity that reinvigorated the city’s reputation and made his shows the hottest ticket in town,” writes Women’s Wear Daily. And while his family did not immediately disclose any details about his passing, it was common knowledge that he recently suffered the death of his mother to whom he was very close.

One of the questions now is whether the brand will continue and what kind of success—or hardship—it should expect on the road from grief to recovery.

Continued success depends in large part on the position of the brand at the time of the passing, says Jamey Boiter, brand strategist with BOLTgroup. McQueen has boutiques in New York, London, Los Angeles, Milan, and Las Vegas and operates a website selling both ready-to-wear and accessories. His line is also sold at department stores like Bergdorf Goodman, Barneys New York, Saks Fifth Avenue, and Neiman Marcus, as well as online luxury seller Gilt Group. He counted influential fashionistas like Lady Gaga, Nicole Kidman, Sarah Jessica Parker, and Rihanna among his devotees.

The challenge McQueen’s people face lies in how intimately involved he was with every aspect of his business. “When you’re dealing with couture or boutique brands, success typically swings with the designer as to whether or not it will last,” he says. And with someone as “involved and talented as McQueen was, there has to be a clear legacy,” he adds. Initially, demand for his products is going to blow up, and it will be quick, he says. Lisa Maynard-Atem, managing director of Stylisa, agrees. The biggest benefit is that their work becomes highly desireable and therefore can often boost their profits, she says. “Although this is not something to be celebrated in light of the circumstances, we can't ignore the fact that when a designer dies, many people will flock to buy his or her pieces, in order to have something that the designer would have had some input into,” she adds.

A search on auction site eBay late Thursday afternoon found 857 results for Alexander McQueen merchandise, with a white scarf with black skulls on it posting 44 bids. McQueen’s business wasn’t profitable until 2007, reports the Financial Times, and when it did turn a profit it was “largely through judicious use of licensing.” Gucci Group, which owns the label, considers it still a “developing” brand and will not disclose financials.

Boiter sees a possible scenario happening: Another strong designer will step in and say “I can pick up what Alexander McQueen stands for, what the pillars of his brand are, and I can carry it.” But the danger is that the person who succeeds McQueen—should demand be strong enough for that to happen—says that while the original views and direction are clear, someone will want to put his or her own stamp on what McQueen started. “Stella McCartney is Stella McCartney. Her line is a direct reflection of who she is, and if something were to happen to her, I don’t know if her brand would go on,” Boiter says.

He points to Ralph Lauren as the counterpoint. With Lauren, “he’s created enough of a basis about the meaning of what’s American. About the point behind the color blue and what the color purple represents. And that will endure beyond him.” Back to McQueen, it’s important to remember that plans for Fall-Winter 2010 have already been made. It’s how those lines are marketed that will be the real litmus test for future viability, Boiter explains.

Of course, McQueen is not the first iconic designer to have died while his brand was enjoying commercial success and notoriety.