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Must Read: 'Vanity Fair' Drops Annual Hollywood Issue, 'W' Releases Best Performances Portfolio

Plus, Estée Lauder acquires Deciem.

These are the stories making headlines in fashion on Tuesday.

Vanity Fair drops annual Hollywood issue
Now in its 27th year, Vanity Fair's Hollywood issue spotlights some of the most exciting voices in entertainment — and in 2021, that includes Michael B. Jordan, Charlize Theron, Zendaya, Sacha Baron Cohen, Maya Rudolph, Michaela Coel, Spike Lee, LaKeith Stanfield, Awkwafina and Dan Levy. The 10 cover stars are portrayed against surrealist backdrops, shot remotely by Maurizio Cattelan and Pierpaolo Ferrari and styled by Katie Grand. {Vanity Fair}

W releases Best Performances portfolio
Meanwhile, W published its annual Best Performances portfolio this week, featuring George Clooney, Gal Gadot, Riz Ahmed, Andra Day, LaKeith Stanfield, Michelle Pfeiffer, Tessa Thompson, Sacha Baron Cohen and Vanessa Kirby, photographed by Juergen Teller and styled Sara Moonves, the magazine's editor-in-chief. {W}

Estée Lauder acquires majority stake in Deciem
On Tuesday, Estée Lauder Companies Inc. announced its plans to acquire a majority stake in Deciem, upping its existing investment in the brand from approximately 29% to approximately 76%. "Over the last four years, we have built a truly special long-term partnership with the incredible Deciem team, and we are excited for what the future holds," Fabrizio Freda, president and chief executive officer of Estée Lauder Companies Inc., said in a statement. {Fashionista inbox}

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Jada Pinkett Smith and family launch beauty brand
Jada Pinkett Smith is the latest celebrity to enter the beauty market with Hey Humans, a personal care brand with a focus on naturally-derived formulas and ingredients, as well as recyclable packaging. At launch, Hey Humans offers a deodorant ($4.99), a body wash ($5.99), a body lotion ($5.99) and a toothpaste ($3.99), all available at Target. {Fashionista inbox}

Proenza Schouler collaborates with The Outnet 
Proenza Schouler released an exclusive 27-piece capsule of silhouettes from its archive (including handbags) rendered in new fabrics and prints on The Outnet. Prices range from $160 to $730. You can shop the collection here. {Fashionista inbox}

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