CFDA’s Steven Kolb talks shop, Pat McGrath Labs billion dollar valuation, Victoria’s Secret slumps and more news from the week

10 Corso Como is coming to New York
After developing outposts in Seoul, Shanghai, and Beijing, Milanese concept store, 10 Corso Como, heads West to open its only U.S. location at the Seaport District this September, coinciding with New York Fashion Week. Former fashion editor and publisher, Carla Sozzani, sister of the late, great Franca, will host an all-day celebratory launch event on Thursday, September 6 presenting the 28,000-square-foot space that has an Italian café and restaurant, fashion, books, an art and photography gallery and a garden. [ Inbox]

Is Victoria’s Secret in Trouble? Jefferies says Yes
Your favorite Angel campaign that airs during the holidays might be in jeopardy. News broke out this week that L Brands Inc. owned lingerie company, Victoria’s Secret, is struggling to drive traffic. Jefferies analyst Randal Konik reports that VS has “massive traffic declines, zero pricing power and market share losses mounting” for more than 2 years now. [BLOOMBERG]

Anok Yai named the latest Estée Lauder Global Ambassador
This college student has had much to celebrate. After a chance viral post on Instagram, Prada opener and editorial darling, Anok Yai can now add Estée Lauder to her resume as she takes their newest global spokesmodel title. She joins the ranks of fellow top models Karlie Kloss, Grace Elizabeth, and Joan Smalls as she gears up for her August campaign debut sporting Estée’s best-selling Double Wear Stay-in-Place Makeup, available in 56 shades. [ Inbox]’s latest MDX interview feature: In discussion with CFDA’s Steven Kolb
The CFDA chief executive, Steven Kolb, speaks to Ford Models’ Christopher Michael in’s current cover story. As CEO of the not-for-profit trade association, Kolb oversees initiatives like the CFDA/Vogue Fashion Fund that just announced its 10 finalists and campaigns with Planned Parenthood and ACLU. The CFDA controls New York’s Fashion Calendar, which recently has added a June/December schedule, and has been in a shift as traditionally New York-shown brands experimented showing elsewhere. During their conversation, Michael and Kolb discuss the veteran not-for-profit executive’s start, the state of fashion and “commercial” not being a dirty word. Watch it here.

Tim Walker has an exhibit designed by collaborator Shona Heath going into the Victoria & Albert Museum next year
Announced this week by the museum’s director Tristram Hunt and chairman Nicholas Coleridge, the South Kensington-located Victoria & Albert Museum will host works by British photographer Tim Walker. The exhibit which will run from September next year will be an “immersive, behind-the-scenes” look, reported the Standard UK, saying it will feature works commissioned by the V&A archive. The show, which will include photographs, films and photographic sets is designed by creative director and set designer Shona Heath, who frequently works with Walker. The museum is celebrating a record number of visitors last year, Walker’s exhibit will be one of the five major exhibitions through the next 18 months. [Standard UK]

PatMcGrath Labs gets $60 million in funding and a $1 billion valuation
Announced on Monday, Pat McGrath Labs, the makeup line, received a $60 Million dollar investment from Paris-based Eurazeo Brands, joining Luxury Group as a shareholder. Started by the fashion industry’s foremost makeup artist, Pat McGrath, the additional investment puts her company at $88 million in funding. According to a Women’s Wear Daily report, Pat McGrath’s valuation is now upwards of $1 billion, 17 times its retail sales. The news is further evidence and fodder for the makeup industry boom. Glossier’s Emily Weiss, just named in Fortune Magazine’s 40 under 40, predicted on her Instagram that by 2024 it’s going to be a “750B” industry. [BOF]

Alexander McQueen muse Annabelle Neilson dies at age 49
British muse, socialite and Bravo’s “Ladies of London” star Annabelle Neilson was found dead last week at age 49. Neilson was a fixture in the fashion coterie of the 90s and early aughts, model muse to the late Alexander McQueen. Early in her life, Neilson struggled with drug abuse, which she later recovered from. The cause of her death was by heart attack, said her sister Millie, to the Daily Mail.


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