Stella McCartney Aligns with LVMH
In surprising news this week, after leaving Kering last year and going independent, Stella McCartney has teamed up with luxury conglomerate rival, LVMH Moët Hennessy Louis Vuitton. The designer will continue as creative director and ambassador of her brand while holding majority ownership. In addition, she’ll be adding a new role focused on sustainability to her resume as special advisor to LVMH chairman and CEO Bernard Arnault and the executive committee members. [WWD]
First Head of Diversity and Inclusion Hired at Chanel
The French luxury house announced the appointment of Fiona Pargeter as their first global head of diversity and inclusion. It’s a move in line with other luxury brands, such as Prada, Gucci and Burberry, who have created roles and initiatives such as Pargeter’s to create more inclusive workplaces as well as avoid racial missteps in their advertising as consumers hold brands more accountable. Previously, she held the same position as Swiss bank UBS. [British Vogue]
Zendaya Takes #TommyNow to New York
New York was announced as the location of the latest buy now, wear now extravaganza from Tommy Hilfiger and collection collaborator, Zendaya. The launch event of #TommyxZendaya is to be held at Harlem’s Apollo Theater on Sunday, September 8th. “Zendaya’s desire to bring TommyNow to Harlem felt like an amazing next step in expressing her vision for the future,” Hilfiger said, as reported by Fashionista. This leg of Hilfiger’s “buy now, wear now” is its first return to New York since its 2016 TommyxGigi inception, subsequently holding similar shows in Los Angeles and abroad in London, Milan, and Paris. [Fashionista]
Barneys New York, Bankrupt?
Barneys New York Inc is considering a bankruptcy filing, specifically with law firm Kirkland & Ellis LLP, as the century-old retailer struggles to adapt to the changing consumer landscape and competition with e-commerce. Reuters, whose sources have not been identified, disclosed the information in a report, and since, Barney’s has released a statement saying, “We continue to work closely with all of our business partners to achieve the goals we’ve set together and maximize value. To that end, our board and management are actively evaluating opportunities to strengthen our balance sheet and ensure the sustainable, long-term growth and success of our business.” [Reuters]
Roberto Cavalli Acquired by Dubai Developer
Florence-based luxury house Roberto Cavalli SpA has secured a new owner through Vision Investment Co. LLC, owned by founder and chairman of the Damac Properties Group, Hussain Sajwani. After skipping a spring men’s wear collection and former creative director Paul Surridge exiting the fashion house this year, WWD reports that unions are asking for clarity on if the brand headquarters in Sesto Fiorentino will remain open with the new acquistion plans.
Zara Goes Sustainable
Fast fashion behemoth, Zara and its parent company Inditex, unveiled to shareholders this week plans to make sustainable all of its sourcing of cotton, linen, and polyester by 2025. By 2020, the company will eliminate hazardous chemicals from the supply chain, install donation bins in stores, eliminate the use of plastic bags, and eliminate the use of fibers from endangered or ancient forests across all of its brands like Pull & Bear and Bershka. [WWD]
