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Must Read: Prada and Ralph Lauren Decline in Brand Prestige, Karl Lagerfeld Weighs in on Kim Kardashian Robbery

Plus, how "see now, buy now" is impacting the rest of the industry.
A Prada boutique in Taipei. Photo: Mandy Cheng/AFP/Getty Images

A Prada boutique in Taipei. Photo: Mandy Cheng/AFP/Getty Images

These are the stories making headlines on Wednesday.

Prada and Ralph Lauren decline in annual survey of the world's most prestigious brands
Consulting firm Interbrand released its 17th annual ranking of the 100 most prestigious brands (determined via a custom index that takes into account financial performance, market influence and the price premium the brand can command), and some major names fell from the spots they held last year due in part to a global dip in demand for luxury fashion. Cases in point: Prada, who went from 69th to 81st place this year, and Ralph Lauren, who declined to 98th from 91st. {Bloomberg}

"You cannot display your wealth then be surprised that some people want to share it."
In the days following the robbery that took place at Kim Kardashian's Paris residence during Fashion Week, everyone from anonymous editors to Karl Lagerfeld has weighed in on the matter. "(She is) too public, too public," Lagerfeld told the Associated Press. "You cannot display your wealth then be surprised that some people want to share it." Tough love? {The Cut}

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The impact of "see now, buy now"
In a fashion landscape that's been shellshocked by the "see now, buy now" debate, we're in the midst of what could possibly be one of the biggest changes to the modern fashion industry as we know it. It's not just designers and brands that are affected — the quickening pace of production impacts everyone from editors to consumers to photographers, as well. {Business of Fashion}

Do luxury houses know how to modernize?
The answer? Perhaps not. Whether it's struggling to keep up with the fast pace of instantly available runway collections or the rise of e-commerce, storied luxury brands still seem to be figuring it out. "I went into one of the stores the other day and it was empty," says one anonymous employee from the design team at an American luxury fashion house. "For the most part, everything is online and luxury brands are trying to keep up with how to bring people in-store and upgrade the shooting experience. Luxury doesn't have a sense of luxury anymore." {Glossy}

The Business of Fashion reveals the #BoF500 2016
The London-based publication shared its fourth annual list of 500 designers, models, stylists, photographers and business executives shaping the global fashion industry. Did your favorites make the list? {Business of Fashion}

Modcloth to open first-ever permanent retail location 
And along with that, the brand's first signature collection from its newly-minted fashion director, Lizz Wasserman. Shop the new collection on Modcloth's website, or at its brick-and-mortar store opening in November in Austin, Texas. {Fashionista inbox}

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