Photo: Linh Pham/Bloomberg via Getty Images
These are the stories making headlines in fashion on Friday.
Authentic Brands Group reportedly set to buy Marc Jacobs
Rumors that LVMH would be offloading Marc Jacobs from its portfolio have been circulating for several months, but only now has a potential buyer been named. Jamie Salter’s Authentic Brands Group (ABG) is reportedly in talks to take ownership of the label, according to Puck’s Lauren Sherman. {Puck}
Target to eliminate 1,800 jobs
After several seasons of declining sales, Target has announced it will be cutting 1,800 corporate jobs — 8% of its 22,000-person corporate staff. “It’s important to understand that we did not take these actions to save cost; adjusting our global headquarters structure is the first step in rewiring our organization to be agile and make faster decisions,” a spokesperson for the retailer told WWD. The company’s incoming CEO, Michael Fiddelke, said the company will elaborate on these structural changes next week. {WWD}
Saks Global executive jumps ship to Bloomingdale’s
James Newell, former Saks Global merchant, has joined Bloomingdale’s as vice president and general merchandise manager of men’s. Newell is one of many senior employees to leave Saks Global this year. His replacement has yet to be announced. {Retail Dive}
Why shoppers wait in line for The Row’s annual sample sale
For Business of Fashion, Joan Kennedy spoke with several shoppers in line for The Row’s highly-anticipated clearance sale in New York City. Some people even went as far as to hire line sitters to save their spot, all to snag pieces from Mary-Kate and Ashley Olsen’s beloved minimalist label. Despite not knowing what products will be available until the doors open, customers like Brute Choi say the wait is worth it regardless because so many pieces are “timeless, really key items for your wardrobe, like the perfect pair of pants or the perfect shirt.” {Business of Fashion}
How the smoothie collab has evolved past Erewhon
Since being a key ingredient in Erewhon’s 2024 Sofia Richie Grainge’s Sweet Cherry Smoothie, wellness brand Cowboy Colostrum has gone on to partner with café chain Pura Vida on a Strawberry Matcha and Pressed on a bowl. Other brands like The Absorption Company and Makeup By Mario have partnered with SunLife Organics and Los Angeles’ Dialog Café, respectively. “There’s going to be something after the smoothie, and we are going to be the ones to figure out what that next thing is,” said Grace Verrill, The Absorption Company’s VP of marketing. {Glossy}
Source: Fashionista.com
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