W Has a Buyer and Ex-Editor-in-Chief Stefano Tonchi is Suing Condé Nast
Announced this week, Future Media is set to buy the Condé Nast owned W Magazine that was put up for sale last year. Future Media adds the publication to its other magazines Surface and Watch Journal. The new owners have named W’s current style director since 2017, Sara Moonves, as the editor in chief, a rank previously held by Stefano Tonchi. Shortly after the news broke, it was disclosed that Tonchi, who has been editor in chief for nearly a decade, is suing Condé Nast for a breach of contract saying he was wrongfully terminated and therefore denied severance he was owed. In addition, Tonchi claims the termination also denies him a closing bonus he signed last year when W was put up for sale. The suit calls for 1.08 million in damages and interest. [WWD]
Koché Wins ANDAM Award and 250,000 Euros
Koché, the label started by Christelle Kocher in 2014, was awarded the top ANDAM fashion award prize. The prize includes 250,000 euros and guidance from OTB’s Renzo Rosso. Honored second to Kocher’s brand was Coperni, Hed Mayner and Kwaidan Editions. [WWD]
Keren Craig Departing from Marchesa
One half of the founding team of the luxury label Marchesa, Karen Craig, is set to exit the brand she started with Georgina Chapman, whose husband is Harvey Weinstein, accused of sexual assault by multiple women. The decline of the brand’s image after the bad press is likely a large factor in her decision to exit. In a release, Craig wrote, “Marchesa will always be the realization of a dream. Over the last 16 years, it has been the most incredible and fulfilling professional journey. I am excited to now begin exploring additional creative opportunities and to push my potential as a designer in new directions.” [Fashionista]
Graham Rounthwaite Bids i-D Adieu
i-D Magazine Creative Director Graham Rounthwaite has announced his departure from the British tome yesterday, a role he’s has since 2013. His responsibilities now pass to newly appointed global editor-in-chief Alastair McKimm who had these parting words to say to him, “It’s been such a privilege to work with Graham over the last six plus years at i-D. His love for the brand is infectious and I’m really proud of the work we made together.” [i-D]
Public School Win CFDA + Lexus Fashion Initiative
Move over LVMH, you’re not the only ones pushing sustainablity initiatives this year. The CFDA teamed up with Lexus for the CFDA + Lexus Fashion Initiative awarded Dao-Yi Chow and Maxwell Osborne of Public School after debuting their new platform dubbed V-TO — a business-to-business fabric and garment supplier focused on making recycled cotton standard in the streetwear category. The program consisted of a nine-month virtual residency with = emphasis on sustainably practices and the duo took home a $100,000 grant, winning over Abasi Rosborough’s Abdul Abasi and Greg Rosborough; Araks’ Araks Yeramyan; Jonathan Cohen’s Jonathan Cohen and Sarah Leff, and Tracy Reese. The latter, Reese, whose new label Hope For Flowers based in her native Detroit prioritizes the people and manufacturing infrastructure in addition to environmental impact and working conditions in the supply chain, was awarded a $5,000 social impact award. [WWD]
