Must Read: Diesel Files for Bankruptcy, Investor Wants L Brands to Separate Victoria's Secret From Bath & Body Works

Plus, how to break the cycle of discounting.
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Clothing on sale at Diesel's opening of a real knock-off store on Canal Street in 2018. Photo: Presley Ann/Getty Images for Diesel

Clothing on sale at Diesel's opening of a real knock-off store on Canal Street in 2018. Photo: Presley Ann/Getty Images for Diesel

These are the stories making headlines in fashion on Wednesday.

Diesel files for bankruptcy
Diesel USA Inc. filed for bankruptcy on Tuesday, blaming plummeting sales, expensive leases, botched turnarounds and cyber fraud. The New York-based unit of Italy's Diesel SpA filed for Chapter 11 protection from creditors with the U.S. bankruptcy court in Delaware. In the court filing, the company did not announce massive store closures, but it did outline a plan to restore the Diesel brand in the U.S., including opening new stores and retrofitting some old ones to make them cheaper to operate. {Bloomberg

Investor wants L Brands to separate Victoria's Secret from Bath & Body Works 
Breakups are trending in fashion: Last week, Gap Inc. announced that Old Navy was separating from its long-term partner Gap. A few months prior, VF Corp decided to uncouple its denim brands from Vans, The North Face and Timberland. Now Barington Capital Group, an activist investing firm led by James Mitarotonda, is pushing for L Brands Inc. to separate the suffering Victoria's Secret from Bath & Body Works. "Unfortunately, the market does not appear to be ascribing appropriate value to the solid financial performance of Bath & Body Works, most likely because it is being overshadowed by the struggles at the company's more visible Victoria's Secret segment," wrote Mitarotonda in a letter to L Brands on Tuesday. {WWD

How to break the cycle of discounting 
Discounting in retail is rampant, so how do companies proactively break the cycle of cutting costs without triggering a spending drought? In a new piece for Business of Fashion, Lauren Sherman outlines several steps brands and retailers at every level can take in order to get more consumers paying full price again. {Business of Fashion

Designers updated the classic runway strut this season 
Gone are the days when models uniformly strutted down the runway as mere clothes hangers. Now, an increasing number of designers have shifted their runway approach to one that encourages idiosyncratic personalities, attitudes and interactions. To accomplish this, many have hired choreographers to help models animate their clothes through dance and movement. {The New York Times

Kylie Jenner is the youngest self-made billionaire ever
Kylie Jenner is the youngest self-made billionaire ever, according to Forbes. And despite disagreements on whether the reality star can truly be considered "self-made," the magazine maintains that the 21-year-old baby of the Kardashian-Jenner bunch has achieved this financial milestone thanks to her own wildly successful makeup empire. {Forbes}  

Instagram and late capitalism are responsible for the rise of mediocre fashion 
In recent years, designers who put out ostentatious and sometimes cringe-worthy collections have become commercial successes. In a new piece for Highsnobiety, Eugene Rabkin explores why this sudden spike in bad taste could be a symptom of late capitalism and social media, where people consume things not for themselves but for their Instagram feeds. {Highsnobiety

Lizzo covers Allure's new digital cover 
Lizzo stars on Allure's first digital cover of 2019 (see below). In the cover story, Lizzo spoke with writer Shammara Lawrence about inclusivity, her complex hair journey and why she wants her fans to love themselves as much as they love her. The magazine's first digital coverage package also includes special social content for IGTV and an audio editor's letter, in which Teen Vogue's Editor-In-Chief Lindsay Peoples Wagner and Allure's digital editorial director Kelly Bales share how Lizzo's cover shoot came together. {Allure

Lizzo on the cover of "Allure." Photo: Luke Gilford for "Allure"

Lizzo on the cover of "Allure." Photo: Luke Gilford for "Allure"

Bangladeshi garment factory fire highlights ongoing safety concerns
A garment factory fire in Dhaka, Bangladesh this week injured eight people, according to the Clean Clothes Campaign. The accident happened during a period of limbo for the Accord on Fire and Building Safety in Bangladesh, an international safety measure that's currently under threat of being pushed out of the country, raising concerns that there's no other inspection body ready to take its place and protect workers. {Fashionista inbox}

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