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Must Read: Prabal Gurung and Aurora James Named Vice Chairs of CFDA, Daniel Lee Plans For a New Burberry

Plus, Bernard Arnault dethrones Elon Musk as world's richest man.
prabal and aurora

These are the stories making headlines in fashion on Wednesday.

Prabal Gurung and Aurora James are the new vice chairs of the CFDA
The Council of Fashion Designers of America has elected designers Prabal Gurung and Aurora James as vice chairs of the council. They will begin their new roles on Jan. 1, the same day that Thom Browne will assume his role of chairman. The board will consist of 18 people, who will serve six-year terms. {WWD}

Daniel Lee plans for a new Burberry 
Daniel Lee, former creative director of Bottega Venetta, is set to debut his first collection as chief creative officer of Burberry on Feb. 20. Lee's appointment to lead the British heritage brand is fitting in many ways, given his British background as well as his outstanding track record at Bottega; in 2019, he was awarded four statuettes at London's Fashion Awards — an unprecedented achievement. In terms of the future, Lee is looking to the outdoors. "It's not necessarily about an overcoat, but also about warmth, tactility, and coziness. And about being on the move..." he says. A first glimpse of Lee's new Burberry can be seen in its upcoming campaign, launching in early February. {Vogue}

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Bernard Arnault dethrones Elon Musk as world's richest man
On Tuesday, Elon Musk ended his run as the richest man in the world (for now, at least), his fortune falling just a few billion dollars below that of Bernard Arnault, CEO of luxury fashion conglomerate LVMH. (The company owns recognizable labels including Louis Vuitton, Christian Dior, GivenchyFendi and Moët.) Musk's dethronement as richest man comes after his recent $44 billion Twitter acquisition, as well as the depreciation of Tesla stocks. {Bloomberg}

How Kendra Scott is expanding its customer base 
For Elle, Kendra Scott discusses the fanbase she has built in the past 20 years with her ubiquitous jewelry line: a cult-like following among sorority girls, Midwesterners and Southerners. Now, Kendra Scott is looking to diversify its demographic, by collaborating with influencers and brands like Summersalt and Barbie, and launching a men's collection: Scott Bros. "I'm more excited and invigorated than I feel like I've been in so long, because I see where we're headed. And it's so exciting..." says Scott. While she has personally stepped down as CEO, Scott still drives many of the brand's big decisions and maintains the brand's philanthropic efforts. {Elle}

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