Elsa Peretti Is Not Impressed With Her Tiffany Paycheck, Zara Is Getting Even Faster
Elsa Peretti has earned billions of dollars for the designs she's created for Tiffany, which accounted for around 10 percent of its $3.8 billion in sales in 2012. That same year, Tiffany renewed Peretti's contract for 20 years, increasing her royalty fees and giving her an instant check for $47.3 million. If those seem like impressive sums to you, they're not for Peretti. "It might look like a lot, but, after taxes, it’s not really, for the work I’ve done," she says. {Vanity Fair}
Fast fashion retailer Zara is about to get even faster. The company is implementing a microprocessor-based tagging system that will allow items to be tracked from its factories straight to the cash register. Cha-ching! {Reuters}
Marie Claire has a new managing editor. Nancy Gillen, who has served as Glamour's managing editor since late 2011, will start at the Hearst-owned glossy on Aug. 4. {Fashionista inbox}
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