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Must Read: Givenchy Debuts Childrenswear, Victoria Beckham Awarded OBE by Prince William

Plus, Rebekka Bay joins Uniqlo as head of its New York Innovation Center.

These are the stories making headlines in fashion on Wednesday.

Givenchy launches first collection for kids
Wearing Givenchy as a kid has been territory reserved for Kardashian-West children in the past, but that's about to change: The brand just debuted 130 pieces in its first kids' collection, featuring the dark and moody tones you'd expect from the brand. North West, behold your impact. {Vogue UK}

Victoria Beckham awarded OBE by Prince William
The fashion designer and former Spice Girl received an OBE one day after her 43rd birthday for her fashion and charity work over the past 17 years. The designer's husband David Beckham received his OBE in 2003. "It was an absolute pleasure to be at Buckingham Palace today," she said. "I'm proud to be British, honored and humbled to receive my OBE from the Duke of Cambridge." {BBC}

Rebekka Bay joins Uniqlo as head of New York Innovation Center
The Gap and Everlane veteran joins the Japanese retailing giant at a center focused on developing and designing product. The first pieces that will see Bay's input will be the Fall 2018 collections. Her appointment is official on May 1. {WWD}

Condé Nast looks to attract millennial advertisers
The publisher is rolling out a campaign called "Condé Nast Next Gen" to highlight the younger publications like Teen Vogue and Vanity Fair's The Hive in the hopes of appealing to millennial-focused advertisers. "There is a new energy at the company and it's informing everything we create," said chief marketing officer Drucker Mann. {WWD}

Proenza Schouler's new lookbook features trans models
Shot by cool-kid photographer Ethan James Green, the lookbook features friends of Green's who happen to be trans — Stav Strashko, Torraine Futurum and Marcs Marcus. "The mix felt right and the overall message of diversity very contemporary," said the designers. "The whole thing felt like the New York we know." {The Cut}

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Margins for fashion retailers have fallen in the last year
As they try to figure out how to balance the growing world of e-commerce with the fact that 90 percent of sales still happen in physical stores, fashion retailers are struggling to maintain healthy margins. According to one expert, the retail landscape is "23 percent overstored" in the US, and the shuttering of stores from brands like Abercrombie and Bebe is the unsurprising result. {WWD}

Could the lingerie market be on the verge of another disruption?
Aerie is championing a new attitude toward lingerie — one that's more about the experience of the wearer than of the person looking at her — and new brands like Naja and True & Co are also taking a bite out of the Victoria's Secret-dominated market. Could Amazon's wealth of data and consumer access make its in-house lingerie label the next big thing? {Business of Fashion}

Giant fashion images will be projected onto the Empire State Building
In celebration of its 150th anniversary, Harper's Bazaar will be projecting 150 500-foot-tall cover images onto the side of the building on Wednesday night. Featuring images of Audrey Hepburn and Kate Moss shot by greats like Richard Avedon and Andy Warhol, the images will run intermittently from 8:30 p.m. to midnight. "What I really want is to allow New Yorkers to enjoy the greatest fashion show in the world," said EIC Glenda Bailey. {New York Times}

Dave Chapelle covers T Magazine
The comic opened up about being the first post-Trump-election SNL host and why he's considered entering politics in the feature interview accompanying his Inez and Vinoodh-shot cover. {T Magazine}

Target partners with ethical e-commerce boutique Accompany 
The two retailers are collaborating to present a limited-edition range of artisan-made products from all over the world, which will be sold on and in select stores. "Accompany's mission is to build income-generating opportunities for local people across the developing world," said the brand's founder Jason Keehn in a blog post. "Through our partnership with Target, we're able to shine a spotlight on the communities creating these goods and help them continue their traditions, now and in the future." {Fashionista inbox}

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