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Must Read: Will the 'Alexa Chung Effect' Work for Alexachung?, Michael Kors to Close Over 100 Stores

Plus, Farfetch is likely going public.

These are the stories making headlines in fashion on Wednesday.

Will Alexa Chung be able to sell her own clothes the way she sells other brands'?
Alexa Chung just launched her own clothing label Alexachung, but it remains to be seen whether or not the It girl will be able to move product from her own line as well as she can move product from other brands. Either way, she seems typically unflappable. "I'm not making ultra forward-thinking, mind-blowing creations," Chung said. "What I do want to make is lovely jumpers that will last you for a few years." {Business of Fashion}

Michael Kors closing over 100 stores
American luxury brand Michael Kors announced that it will be closing between 100 and 125 stores in the next two years in response to "catastrophic" retail figures. "Michael Kors' precipitous drop in sales does very little to reassure that the company's nascent recovery program is on track," said one analyst. {Business of Fashion}

Farfetch may be going public
Though Farfetch CEO José Neves has yet to lay out a timeline, he's hinted that he's more likely to take the online luxury retailer public than to sell to a potential buyer like Amazon. Some sources speculate the online retailer, which sees more traffic than competitors like Net-a-Porter and Neiman Marcus, may IPO as soon as 2018. {Business of Fashion}

Rick Owens opens up about winning the CFDA Lifetime Achievement Award
Cult-favorite designer Rick Owens reflected on his career in anticipation of the Lifetime Achievement Award he will receive from the CFDA next week, touching on everything from Proust to what it means to him to be an American. {Vogue}

Young creatives sound off on the problems with Instagram
The photographers behind German sneaker collective Allupinitt talked about the problems with Instagram: that it can inadvertently encourage copycat aesthetics, reward those with big but unengaged followings, and make it harder than ever to get work seen without shilling out money to boost posts every time the algorithm changes. {Highsnobiety}

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The Copenhagen Fashion Summit saw a number of brands joining together in the Fashion Positive Plus initiative, which includes a commitment to collaboratively pursue "circular" fashion materials, which consist of "safe ingredients, perpetually cycled, managed in ways that respect humans and the environment." {WWD}

Global luxury sales expected to grow again this year
Despite having leveled off last year, luxury sales are expected to grow once again in 2017, according to a Bain study. The growth is expected to come mostly from Europe and China, while the United States' market may experience a slowdown. {AP}

Chinese labor activists missing after investigating Ivanka Trump-linked factories
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Ralph Lauren Finance and Operations Director joins Akola Project
Vincent "Vinnie" Chin just announced that he will leave his role as Senior Director of Finance and Operations at Ralph Lauren to join nonprofit jewelry brand Akola as Chief Administrative Officer. "Vinnie's expertise in operations, paired with his passion for impact, will play an essential role in advancing our 100 percent impact model," said Akola founder Brittany Merrill Underwood in a release. {Fashionista inbox}

Revolve launches MadeWorn x Roc69 collection honoring Jay Z
The collaboration between e-tailer Revolve, craftsmanship-focused label MadeWorn and multimedia brand project Roc69 features lyrics and track titles from Jay Z's 1996 album "Reasonable Doubt." The collection goes on sale on June 1 with prices ranging from $160 to $3,500. {Fashionista inbox}

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