Must Read: Tiffany & Co. Same-Store Sales Jump 7 Percent, Revlon Appoints Its First Female CEO

Plus, Nicolas Ghesquière renews Louis Vuitton contract.
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Photo: Spencer Platt/Getty Images

Photo: Spencer Platt/Getty Images

These are the stories making headlines in fashion on Wednesday.

Tiffany & Co. same-store sales jump 7 percent 
On Wednesday, Tiffany & Co. reported a 7 percent increase in global same-store sales during the last quarter and a 7.8 percent rise in shares, fueled by Chief Executive Alessandro Bogliolo's brand overhaul. Hired last year, Bogliolo has set out to revitalize the 181-year-old brand by redesigning stores, improving technological operations and refreshing jewelry lines in an effort to woo a younger clientele. {Business of Fashion

Revlon appoints its first female CEO 
Revlon was founded in 1932 and has a long history of targeting female customers, but it has never had a woman CEO until now: Debra Perelman, who was named chief operating officer only four months ago, has been promoted to president and chief executive officer of the company. In her new role, she will continue to spruce up Revlon's digital presence and work to grow the company's e-commerce footprint. {Fast Company

Nicolas Ghesquière renews Louis Vuitton contract 
Despite big leadership changes in Louis Vuitton's menswear division, things on the women's side are staying the same. On Wednesday, Louis Vuitton announced that Nicolas Ghesquière, who has served as the artistic director of women's collections since 2013, has renewed his contract with LVMH and will continue to creatively lead the label for the considerable future. {Fashionista Inbox} 

Time Inc U.K. shuts down InStyle U.K. 
Time Inc. U.K. has decided to shutter its local edition of InStyle, which became digital-only in 2016. "As a result of Time Inc. U.K.'s new ownership, the company has decided it will not be continuing with the InStyle U.K. license," a company spokeswoman said Tuesday in a statement to WWD. "From May 21, the InStyle U.K. website will automatically redirect to http://www.instyle.com so U.K. users will continue to enjoy the InStyle experience." {WWD

Tommy Hilfiger names Hailey Baldwin and Winnie Harlow as global brand ambassadors
On Wednesday, Tommy Hilfiger named Hailey Baldwin and Winnie Harlow as its newest global brand ambassadors. They will appear as the faces of the Fall 2018 "Tommy Icons" capsule collection for women. "As two of the most sought after super models in the world, Hailey Baldwin and Winnie Harlow are becoming the icons of tomorrow, captivating their audiences with their powerful drive and inner fire," said Tommy Hilfiger in a press statement. "They are leading the way for the next generation of Tommy women, approaching everything with confidence and optimism. These shared qualities and values are why I'm excited to welcome them into our family." {Fashionista Inbox} 

Ralph Lauren's revenue is down in the U.S. 
Ralph Lauren reported its fourth quarter and full year fiscal 2018 results on Wednesday, and it looks like the consumer demand for its all-American goods has decreased in the U.S. North America revenue fell 14 percent in the fourth quarter, which according to the release was "due to lower sales in the wholesale channel," as well as "lower consumer demand." In retail, comparable store sales in North America were flat, as a 6 percent increase in brick and mortar stores was offset by an 18 percent decrease in e-commerce. {Ralph Lauren

Michael Carl let go in latest round of Vanity Fair cuts
Vanity Fair lost six more names from its masthead this week, including fashion director, Michael Carl. "Vanity Fair and Glamour are taking the first steps in reshaping their teams to reflect the new editorial directions of the brands — with new additions and initiatives to be announced shortly," said a Condé Nast spokesperson to WWD in regards to the latest round of cuts. "The priority for each is to create quality and provocative content across all platforms equally, embracing the next generation of readers and viewers." Carl's successor is set to be revealed in the coming days. {WWD

Thoughts of fashion executives at the Glossy Summit 
Glossy held a summit in Miami this week, where fashion and beauty brand executives gathered to talk about the evolution of retail. The site listened in on conversations and documented fully honest excerpts from them in an anonymous manner so that those of us who didn't attend could get their insight on everything from how Amazon will kill your e-commerce business to the trials and tribulations of influencer marketing. {Glossy

British Fashion Council Trust announces its 2018 grant recipients
On Wednesday, the British Fashion Council announced that its charitable initiative has awarded £380,000 in grants to eight designers: Aries, Nabil Nayal, Teija, Marques' Almeida, Mother of Pearl, Palmer Harding, Rejina Pyo and Sharon Wauchob. This year's grant recipients were chosen for their exceptional effort and innovation in the areas around e-commerce, sustainability, production and wholesale expansion. {Fashionista Inbox} 

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