Must Read: Paloma Elsesser and Ashley Graham Cover 'Vogue' Arabia, Kendrick Lamar Covers 'Vanity Fair'

Plus, H&M second quarter profits shrink by 22 percent.
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Paloma Elsesser and Ashley Graham on the cover of "Vogue Arabia." Photo: Miguel Reveriego 

Paloma Elsesser and Ashley Graham on the cover of "Vogue Arabia." Photo: Miguel Reveriego 

These are the stories making headlines in fashion on Thursday.

Paloma Elsesser and Ashley Graham cover Vogue Arabia
Paloma Elsesser and Ashley Graham sparkle in silver sequins on the cover of Vogue Arabia's latest issue, which is all about spreading the message that "beauty has no size." Elsesser wears a chain-mail metal disc dress by Paco Rabanne and Graham sports a shiny Balmain dress and a strong-shouldered Oscar de la Renta fringe blazer in the image shot by Miguel Reveriego. {@voguearabia/Instagram} 

Kendrick Lamar covers the August issue of Vanity Fair
Ever since Radhika Jones took the helm at Vanity Fair, the magazine's covers have shifted from glamorously staged and edited head shots, filled with designer clothes and red lipstick to authentic, up-close portrayals of artists who are dressed in casual T-shirts and hoodies. The Lena Waithe cover launched the glossy into this new era, and with its latest Annie Leibovitz-lensed cover, starring Kendrick Lamar, Jones continues to posit the idea that push-up bras and $5,000 gowns won't start conversations;  forward-thinking people with powerful voices will. {Vanity Fair

Kendrick Lamar on the August cover of "Vanity Fair." Photo: Annie Leibovitz 

Kendrick Lamar on the August cover of "Vanity Fair." Photo: Annie Leibovitz 

H&M second quarter profits shrink by 22 percent
H&M reported disappointing second quarter profits: Analysts expected 6.28 billion kronor profit, but the company announced Thursday that pre-tax profit dropped 22 percent to 6.01 billion kronor ($670 million) in the three months through May. In addition, the Swedish retailer said its inventory levels increased due to logistical issues, resulting in markdowns that put pressure on profit. {Business of Fashion

There's a new generation of publicists striking out on their own 
Over the past few years, a wave of publicists working at big fashion PR agencies, such as Karla Otto and PR Consulting, struck out on their own to launch small consulting firms with the goal of bringing a more individualistic and holistic approach to their clients. This new generation of publicists — who often bill themselves as consultants — have teamed up with emerging and digital-first brands to help them manage everything from their businesses to their relationships with influencers and celebrities. {Business of Fashion

How a fashion critic learned to love the Resort collections
Resort season is a tricky one: Designers call it by different names, it's wildly disorganized, it lasts for at least two months and it overlaps with Couture and men's shows. In a new piece for The New York Times, Vanessa Friedman opens up about how she learned to embrace the mess and see these collections as opportunities to hang out with designers to find out what's in their heads. {The New York Times

Asos is launching a training program on circular fashion 
Asos is launching an initiative to educate designers about circular fashion in partnership with the London College of Fashion's Centre for Sustainable Fashion this month. To kickoff the program, 15 members of Asos's core design team will complete a series of workshops and discussions, where they will explore concepts, case studies and practical applications of circular design. {Vogue UK

Away raises $50 million in series C and hits profitability
Away, a seller of modernly-designed lightweight luggage, announced Thursday that it has raised $50 million in additional funding from existing investors Forerunner Ventures, Global Founders Capital and Comcast Ventures. The capital will help Away expand into new global markets, widen its product line and open six retail stores in 2018. On top of the extra money, the company said it has reached profitability within its first two years, an impressive feat for a high-tech luggage startup. {Fashionista inbox} 

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