Virgil’s new Louis Vuitton, Chanel confirms huge earnings and more news you missed

Virgil Abloh’s Debut Showing at Louis Vuitton was Massive
Ever the fashion democrat, Virgil Abloh’s debut as the artistic director at Louis Vuitton was a massive production, full of celebrities and a reported 3,000 design students, eager to get a glimpse of the historic collection. Somewhere over the rainbow, his coalition of models and looks blended seamlessly together as notable faces like Kid Cudi, Dev Hynes, Playboy Carti, and A$AP Nast joined the runway fray.

And of course, *that* hug.

@virgilabloh & #kaynewest Emotional! @louisvuitton show

A post shared by Takashi Murakami (@takashipom) on

Kering in talks to Sell Stake Back to Christopher Kane
Looks like French luxury group Kering is cleaning up shop. Weeks after it was announced that the group would sell back their 50 percent stake of Stella McCartney, talks of selling its 51 percent stake of Christopher Kane back to the designer have emerged this week. WWD reports, “Christopher Kane and Kering wish to continue to collaborate with the aim of achieving a gradual and harmonious transition.”

Kate Spade New York to Donate $1 Million to Mental Health Awareness
Following the loss of designer Kate Spade from suicide, Kate Spade New York, the company she founded in 1993, is said to be donating $1 million to suicide prevention and mental health awareness causes, reported the Daily Front Row. Specifically, first $250,000 to the Crisis Text Line as well as matching donations up to $100,000. A new Wellness Program is being instituted at the company as well. A shocked industry and fans mourned after Spade, who suffered from anxiety and depression, was found dead in her apartment on June 5th. Though she no longer owned her eponymously named brand she is still a widely celebrated figure for the creation of her popular handbags introduced in the 90s.

Surprise, Chanel earned 10 Billion Dollars Last Year, Revealing Sales for the First Time Ever
Chanel, owned by Alain and Gérard Wertheimer, released its annual earning report for the first time ever. The 108-year-old luxury house whose couture and ready-to-wear are helmed by Karl Lagerfeld, reported close to $10 billion in sales at $9.62 billion, 11 percent higher than the previous year. The report states that last year $1.46 billion was spent on marketing. The house’s chief financial officer, Phillippe Blondiaux, told the Times, “We recognize that we are often a subject of much speculation and that people don’t have facts to hand, leading to the circulation of false or misleading information,” Blondiaux added, “It was time to let the strength of our balance sheet speak for itself.” [NYT]

Now Instagram Has 1 Hour Long Videos With Launch of IGTV
Instagram announced and launched a new feature: IGTV, an app for watching “long-form, vertical video”. IGTV has a stand-alone app, but videos can also be watched on Instagram’s regular app. Prior, videos uploaded were limited to one minute, so the ability to create longer content will likely lead to a slew of more produced and dynamic content from brands, influencers and models who want to take advantage of further engaging with their built-in social media audience. Time will tell how it influences the content and who first taps into its potential.

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