Resort season is now a major moment on the fashion calendar. Here’s why.
Rent the Runway, the succesful online dress and accessories rental company, announced today that it has acquired Go Try It On.
Go Try It On, the app that let users share photos and style advice, will shudder, and its founder and CEO, Marissa Evans, will lead a new “Radical Innovation” team at Rent the Runway.
“Sounds like something pretty crazy, eh?” said Evans when I asked her about the new team.
Delphine Arnault, daughter of LVMH CEO Bernard Arnault and one of his heir apparents, is moving house. Miles Socha over at WWD reports that the young Arnault is heading over to Louis Vuitton in September, where she will serve as the brand’s deputy general manager, reporting to CEO Michael Burke. Arnault has held the same position at Dior under CEO Sidney Toledano since 2008.
There isn’t much drama around this appointment, as it appears that Arnault is simply doing her due diligence and learning all aspects of the family business in the hopes that some day she may be its leader.
Time to say “namaste” to Christine Day, Lululemon’s CEO of five years.
Looks like LVMH and Hermès are headed to court again. And this time, it’s personal.
Band of Outsiders has undergone a big branding change. Plus, peep the super cute Resort collection.
The final verdict is not yet in on whether or not LVMH came into its 22.6% Hermès stake using secretive, illegal methods in an attempt to take over the competing French luxury brand. However, AMF, the French market authority that has been investigating the case, has proposed its recommended sentence.
In case you couldn’t tell, LVMH is not exactly over the moon about the lawsuit being brought against it by Hermes, or the investigation launched by French market authority AMF into how it became a major shareholder in the French luxury brand.
Not much has come of the case yet aside from both sides launching accusations at one another, until today.
With Coty’s IPO imminent, Michael Kors doing gangbusters on the stock market and Fifth & Pacific selling shares via Facebook, we’ve never been more compelled to personally invest in the fashion and beauty brands we love.
But before you go nuts on an E-Trade, here’s a little tutorial. I’ve consulted Hitha Prabakhar and Brian Sozzi—two analysts who know a lot about the stock market, but also a lot about fashion and retail—on how to invest in a smart way.
Coty‘s IPO is moving forward nicely: The beauty behemoth’s initial public offering is now said to be valued at $1.22 billion, almost double what it was originally reported to be worth.