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Must Read: How to Tackle Succession Planning, Tommy Hilfiger Debuts First Sportswear Line

Plus, what Tom Ford will bring to the CFDA.
Karl Lagerfeld and Virginie Viard. Photo: Pascal Le Segretain/Getty Images

Karl Lagerfeld and Virginie Viard. Photo: Pascal Le Segretain/Getty Images

These are the stories making headlines in fashion on Wednesday.

How to tackle succession planning 
When Karl Lagerfeld passed away last month, his long-time collaborator and studio director Virginie Viard was named as his successor. Chanel's decision to focus on continuity made sense, given its already-healthy business, but choosing a successor isn't always as easy as promoting from within: Some brands are looking for a fresh start and to shake things up by selecting an outsider to take the lead. With the death of Lagerfeld putting a spotlight on succession planning quandaries at major brands, Business of Fashion broke down four basic scenarios with their associated opportunities and pitfalls. {Business of Fashion

Tommy Hilfiger debuts first sportswear line 
Tommy Hilfiger has jumped on the athleisure bandwagon with its new performance-driven line, Tommy Sport. The collection, which launched Wednesday, was designed with high intensity movements in mind — think stretchy, moisture-wicking fabrics — and includes colorblocked sports bras, leggings, shorts, swim, bags, hats, visors, tank tops, footwear and outerwear. {WWD

What Tom Ford will bring to the CFDA
Business of Fashion caught up with Tom Ford to discuss his goals as the new chairman of the CFDA. The designer said he wants to bring a more international perspective to the trade association and the "isolated" American fashion scene. He also wants to encourage young designers to work for larger companies before starting their own lines. "A lot of young designers jump into the business before they have the experience they need," Ford told BoF. "We forgot the value of learning and industry." {Business of Fashion

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Sneaker brands are working toward a more stable production calendar 
Nike announced that it will not drop a new shoe on Air Max Day for the first time since it began celebrating the day in 2014. This omission signals a shift in the sneaker world toward fewer drops and a more stable production calendar. Glossy's Danny Parisi took a closer look at how brands are changing their retail strategies and spoke with several streetwear insiders to get their takes on whether sneaker drops have hit their saturation point. {Glossy

Sterling Ruby to launch ready-to-wear collection
Sterling Ruby, an American artist best known in fashion for his work with Raf Simons, is launching a ready-to-wear collection this summer. Entitled "S.R. STUDIO. LA. CA.," the line will feature accessories and clothing for both men and women. "For years I have been privately exploring garments as a medium, as something that impacts the way one can think, feel and move," Ruby said in an official press statement. "I couldn't be more excited to finally put my clothing out into the world." {Fashionista inbox} 

The future of sneaker releases
Sneaker desirability is fueled by scarcity. But as brands push more products globally to maximize sales, they need to find new ways to make their products feel special, which is why many have turned to localization. Local releases tailored to specific communities work for two reasons: They strengthen bonds with certain audiences and create a new air of exclusivity. {Highsnobiety

Rei Kawakubo to be honored with the 2019 Isamu Noguchi Award
Rei Kawakubo will receive the 2019 Isamu Noguchi Award from the Noguchi Museum. The award, which will be presented at the museum's annual benefit on May 2, is given to individuals who share Noguchi's spirit of innovation, global consciousness and commitment to East-West cultural exchange. The Comme des Garçons founder will be the first designer to be honored with this prestigious award. {Fashionista inbox} 

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