Must Read: L Brands to Close More Than 50 Victoria's Secret Stores, Condé Nast Appoints Holly Shackleton as Editor-In-Chief of 'Vogue' International

Plus, how to build a wellness empire.
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Photo: Wang He/Getty Images

Photo: Wang He/Getty Images

These are the stories making headlines in fashion on Thursday.

L Brands to close more than 50 Victoria's Secret stores
L brands announced Wednesday that it plans to close about 53 underperforming Victoria's Secrets in North America this year, after a weak holiday quarter: Comparable sales at the lingerie chain were down 3 percent, dragged down by a 7 percent decline from in-store sales. The closures stem from the retailer's inability to keep up with shifting consumer demands and its failure to compete with newer, more diverse and inclusive lingerie brands, like Savage X Fenty and ThirdLove. {Bloomberg

Condé Nast appoints Holly Shackleton as Editor-In-Chief of Vogue International
Condé Nast International announced the appointment of Holly Shackleton as Editor-In-Chief of Vogue International on Thursday. Shackleton, who is currently the Global Editor-In-Chief of i-D, will join the team in April. "Holly has a deep understanding of the global publishing, fashion and luxury industries," said Wolfgang Blau, the president of Condé Nast International, in an official press statement. "She has shown, if not created, the model for how to collaborate with journalists and creative talent across so many different cultures, languages and markets, while making i-D the distinctive 'voice of a generation.'" {Fashionista inbox} 

How to build a wellness empire 
There's a new breed of retailers exploring the business potential of wellness, a term that encompasses products as diverse as yoga pants, face masks and vitamin supplements. Goop and Bandier are two such companies that have built their brands around the concept of wellness, and have achieved success as a result (Bandier completed a $34 million funding round earlier this week). Executives from both companies spoke to Business of Fashion about how build a wellness empire — online and off. {Business of Fashion

Will Hudson Yards be a retail success? 
With the Mar. 15 opening of The Shops and Restaurants at Hudson Yards, WWD asked a series of industry experts to weigh in on whether they think the glitzy, 18 million-square-foot (!) shopping center will live up to its hype. The consensus: Give it time. "The question isn't how well Hudson Yards does when it opens," said Paco Underhill, the retail anthropologist and founder of Envirosell. "It's how well it does three years from now. There are 26 major shopping malls in the New York metro area, so a new shopping mall has to have something that gives you a reason to drive past the other places and make the commitment in time." {WWD

What Chanel will look like post-Karl Lagerfeld 
Chanel in a post-Karl Lagerfeld will look very much the same. Following the news of the designer's death, the company emphasized that the brand leadership will remain internal: Virginie Viard, Lagerfeld's longstanding right-hand woman, will oversee all haute couture, ready-to-wear and accessories going forward, while Eric Pfrunder, Chanel's director of image for the last three decades, will stay on as artistic director of fashion image. {British Vogue

How the casualization of fashion is affecting luxury brands
Over the past few years, numerous luxury brands have begun navigating the waters of casualization. Glossy caught up with Bill White, the founder of Scarpe di Bianco, to see how this trend towards all things comfortable has impacted his business as a high-end Italian shoemaker and to get his take on whether sneakers will permanently replace dress shoes. {Glossy

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