Must Read: What's Next for Barneys New York, Models Call for Victoria's Secret to Fight Against Sexual Misconduct

Plus, Tyler Mitchell's Beyoncé portrait for 'Vogue' is being acquired by the Smithsonian.
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Photo: Drew Angerer/Getty Images

Photo: Drew Angerer/Getty Images

These are the stories making headlines in fashion on Wednesday.

What's next for Barneys New York 
After filing for Chapter 11 bankruptcy protection on Tuesday, Barneys is hopeful that it will find a buyer and restructure its business to return to profitability. In the meantime, the retailer is closing eight stores and seven off-price locations, keeping five full-line stores open — including its Madison Avenue flagship — as well as two outlet stores and e-commerce sites Barneys.com and BarneysWarehouse.com. The company plans to use its $75 million in new financing to pay vendors for goods and services provided on or after Aug. 6, the date of the bankruptcy filing. {Business of Fashion

Models call for Victoria's Secret to fight against sexual misconduct 
On Tuesday morning, over 100 models signed a letter to Victoria's Secret Chief Executive John Mehas, petitioning the lingerie brand to protect contractors like models from sexual misconduct. The letter, drafted by the Model Alliance, points to the connection between Victoria's Secret and Jeffrey Epstein, who reportedly posed as a recruiter for the brand. Co-signers include former Victoria's Secret Angel Doutzen Kroes, as well as models Christy Turlington Burns, Carolyn Murphy, Edie Campbell, Gemma Ward, Iskra Lawrence, Karen Elson and Milla Jovovich. The letter is also signed by the Hollywood-led initiative Time's Up and industry leaders such as photographers Inez Van Lamsweerde and Vinoodh Matadin and former Glamour Editor-in-Chief Cindi Leive. {Business of Fashion

Tyler Mitchell's Beyoncé portrait for Vogue is being acquired by the Smithsonian 
An image from Beyoncé's editorial in the September 2018 issue of Vogue is being acquired by the Smithsonian's National Portrait Gallery's permanent collection in Washington, D.C. The selected photo, which was shot by 24-year-old Tyler Mitchell, sees Beyoncé wearing a sequin-covered Valentino dress and a gold Philip Treacy London headpiece. 

Capri Holdings first quarter sales miss Wall Street expectations 
Capri Holdings Ltd.'s first quarter revenues just missed Wall Street's estimates of $1.37 billion and climbed 11.9% to $1.35 billion. Michael Kors was partially to blame for the lower-than-expected sales numbers, as its revenue was down 4.8% compared to the prior year. "We are also executing on our strategic initiatives at Michael Kors to return the brand to growth," said John D. Idol, the company's chairman and chief executive officer, in a statement to WWD. "With the power of Versace and Jimmy Choo, and the strength of Michael Kors, we remain confident that our three iconic, founder-led fashion brands position Capri Holdings to grow revenue to $8 billion over time and deliver multiple years of earnings growth." {WWD

What Nirvana's Marc Jacobs dispute means for fashion copyright law
Nirvana's copyright infringement lawsuit against Marc Jacobs's use of a smiley face could be the beginning of further conflict between fashion and entertainment, since designers and musicians have different expectations when it comes to copyright. Fashion copyright law is still evolving and operates separately from mainstream copyright law, leaving many unclear on the boundaries. {Vogue Business

ModCloth reportedly exploring sale
Walmart Inc. is reportedly looking to sell ModCloth, the retro women's apparel site it acquired in March 2017, as it looks for ways to pare losses at its online business. Modcloth Chief Executive Silvia Mazzucchelli says the company is "in the process of exploring potential opportunities" in response to interest from buyers. {Business of Fashion

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