Revlon Files for Chapter 11
Cosmetic giant Revlon filed for bankruptcy in the US Bankruptcy Court for the Southern District of New York, with almost $3.8 billion in debt. The company has been struggling with sales and supply chain issues since 2020. To keep Revlon afloat, the brand cut 1,000 positions and narrowly avoided filing for bankruptcy last year by making a deal with its debt holders. Celebrity competitors like Fenty Beauty and Kylie Cosmetics have adopted the direct-to-consumer method to their large fan bases, while Revlon has mainly relied on brick-and-mortar drugstores for sales. [NYT]
Zalando Buys Highsnobiety
German fashion and beauty e-tailer Zalando is acquiring a significant stake in streetwear news and e-commerce site, Highsnobiety for an undisclosed amount. Founder and CEO of Highsnobiety, David Fischer, will keep a minority stake and continue to spearhead the company alongside the president and COO Juergen Hopfgartner. Fischer said, “Highsnobiety has mastered the art of turning stories into products and products into stories. I am very excited to bring our capabilities to Zalando’s commitment towards fashion inspiration and together reimagine the future of content and commerce.” [BoF]
Harlem’s Fashion Row Partners With LVMH
Conglomerate group LVMH’s North America division has partnered with Harlem’s Fashion Row (HFR) to aid the next-gen of POC fashion talents. The organizations revealed the partnership at a press conference on Wednesday morning at the Whitby Hotel in New York. One of the key points was that LVMH would be the sponsor of Harlem’s Fashion Row’s 15th annual fashion show and style awards in New York on Sept. 6 in Harlem. Brandice Daniel, CEO and founder of HFR, said, “Through this partnership, HFR and LVMH North America look forward to continuing their mission of giving designers of color access to individuals and organizations that can help shape their future.” [WWD]
Hailey Bieber Launches Beauty Brand, Rhode
After two years and multiple teasers on Instagram, Hailey Bieber’s skincare line, Rhode, is here. Named after her middle name, Bieber revealed the affordable price point products she launched: the Peptide Glazing Fluid, Barrier Restore Cream, and a Peptide Lip Treatment, which come in three flavors. Bieber is all about dewy skin and said, “my standard when I go to bed at night is that if I’m not getting into bed looking like a glazed donut, then I’m not doing the right thing.” [Vanity Fair]
Models.com Interviews Teddy Charles
Models.com interviews hairstylist Teddy Charles about assisting some of the biggest names in hair, striking out on his own, and the drive you need to succeed in this business. Find the interview here.
Models.com Interviews Irina Lazareanu for Staying Power
Models.com looks back at Irina Lazareanu’s career for our Staying Power series, while she also shares an excerpt from her recently published book, Runway Bird: A Rock ‘n’ Roll Style Guide. Check out the interview here.
