News Brief: H&M Sales Growth Slows, How "Mad Men" Fueled a Suit Frenzy

And two Harvard alums launch Margaux, a site that sells made-to-measure ballet flats.
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And two Harvard alums launch Margaux, a site that sells made-to-measure ballet flats.
Photo: Getty Images

Photo: Getty Images

These are the stories making headlines in fashion this afternoon.

H&M sales growth slows in April and March
With a new store opening every day this year on average, H&M's sales have been growing in the double digits month-over-month. March and April, however, were relatively slow for the fast-fashion retailer: Sales were up just 10 percent year over-year, following a 14 percent rise in January and a 15 percent rise in February. H&M wasn't the only brand to have a below average April; because Easter came early this year, Gap had a slower month, as well. {WWD}

Oculus Rift wants to pick up where Google Glass left off
Google Glass may have been a flop, but Facebook CEO Mark Zuckerberg says Oculus Rift, the clunky virtual reality headset Facebook acquired for $2 billion in 2014, will one day look like normal glasses or sunglasses you can wear all the time. {Quartz}

How "Mad Men" fueled the growth of men's suits
No doubt about it, "Mad Men" has upped the demand for men's suiting. The show's premiere in 2007 was fortunate timing for J.Crew, which debuted its slim-cut Ludlow suit just one year later. The $600 suit is still selling strong today, despite slowing sales in J.Crew's other categories. {Quartz}

Harvard alums launch custom-fit ballet shoe line
Alexa Buckley and Sarah Pierson, former roommates and classmates at Harvard, launched Margaux on Friday, a direct-to-consumer site that sells $195, made-to-measure ballet flats manufactured in Spain. As the company grows into a full-fledged lifestyle brand, the duo hopes  to introduce more colors, patterns and shoe styles, as well as whole new product categories. {Fashionista}

Avon shares shoot up after bogus takeover bid
Shares of Avon shot up as much as 20 percent Thursday after news surfaced that "PTG Capital Partners" put in a takeover bid for more than $8 billion. The problem? PTG Capital Partners doesn't exist. Analysts say this type of scam is on the wane due to greater SEC oversight. {CNBC}