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Must Read: Charli XCX Gets Decked Out in Sequins for 'Love' Advent, Private Equity Firms Are After Less Traditional Labels

Plus, an inside look at the making of "The Assassination of Gianni Versace: American Crime Story."

These are the stories making headlines in fashion on Tuesday.

Charli XCX strips down to sequin skivvies for Love Advent 
Love is ringing in the New Year with Charli XCX starring in its Advent calendar — which, this year, extends past Advent's traditional date of Christmas Eve. In the Rankin-directed video, above, the PVC- and sequin-clad singer body-rolls to the tunes of her Fashionista-favorite pop single "Boys." {Love Magazine}

Private equity firms are after less traditional fashion brands 
Investments in major fashion houses are declining, while investments in nontraditional labels, such as streetwear-driven Supreme and influencer-powered Ganni, are on the rise. These lucrative labels are appealing to private equity firms because they're able to meet the demands of modern consumers, while also satisfying the growing appetites for new products. {Business of Fashion}

An inside look at the making of "The Assassination of Gianni Versace: American Crime Story" 
The fashion world has been patiently awaiting the arrival of FX's "American Crime Story," which will depict the 1997 murder of Gianni Versace. To tide us over until the series premiere on January 17, the network released a clip (which you can watch below) with us cast interviews about portraying one of the largest manhunts in U.S. history. The video also treats us to more sneak peaks of the glamorous '90s costumes, as well as additional glimpses of a bleach-blonde Penelope Cruz as Donatella Versace. {YouTube

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What Trump's tax overhaul means for retailers 
Retailers have been caught in a tough financial spot for the past couple of years, but President Trump's hotly debated $1.5 trillion tax overhaul may give the corporate world of fashion some extra cash. The bill, which was signed into law just before Christmas, cuts the corporate tax rate from 35 percent to 21 percent and could lead to a variety of changes for retailers, including how they fund orders, how they store intellectual property and what they do with money earned oversees. {WWD}

UPS predicts another record-breaking National Returns Day 
As much as we love browsing for velvet dresses online and purchasing one with a simple click, there's always the chance that the silky-smooth garment isn't going to work IRL. With Black Friday and Cyber Monday sales breaking records this year, UPS predicts that National Returns Day will fall on January 3 and will amount to a whopping 1.4 million returns. {WWD} released a documentary that explores black hair culture in America 
In a 20-minute video (which you can watch below), asked actress Lupita Nyong'o, rapper Young M.A., author Ayana Bryd and various other black artists to dive into a discussion on braids. The documentary thus creates a conversation around cornrows-styled hair that confronts issues of cultural appropriation and recognizes the significance of the hair style as a beautiful part of black history in America. {Elle}

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