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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.
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

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Lizzo covers Allure's new digital cover 
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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
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