Must Read: Fast and Luxury Fashion Are Creating More Billionaires, Puma Announces AI-Designed Sneaker

These are the stories making headlines in fashion on Wednesday.

Fast and luxury fashion are creating more billionaires

LVMH‘s Bernard Arnault and Inditex founder Amancio Ortega are head-to-head in the race to be fashion’s richest executive this year as fast fashion gives the luxury sector a run for its money. Shein founder Sky Xu joined them on Forbes‘ list of the top 200 richest people in the world this year. Fashion industry executives account for 14 of the 200 listed, including Nike‘s Phil Knight, Kering‘s François Pinault and H&M‘s Stefan Persson. {WWD/paywalled}

Puma announces AI-designed sneaker

Puma‘s new Inverse sneaker was designed with the help of AI. It features a new midsole cage and cushioning made possible by the uninhibited design technology. “Inverse is a deep dive into a new design mindset,” Puma Lead Product Line Manager Scottie Gurwitz shared in the release. “AI doesn’t abide by the same rules as human designers, and that can help us see things in new ways and be a good experimental tool for us as we move through the design process.” The sneaker retails for $120 and will be available on Puma.com and at select in-person retailers Dec. 7. {Fashionista inbox}

Rover.com reveals fashion’s most popular pet names

Rover.com’s 12th annual pet names report revealed that beloved brand names Saint Laurent and Alaïa are up for dogs this year, rising by 611% and 140% respectively. Among the most popular fashion-inspired animal names were Louis Vuitton, Bottega, Christian Dior and Burberry. Gianni Versace appeared on the leading names list for the first time. See more of 2024’s top pet names and the icons that have fallen off the list here. {Fashionista inbox}

Jonathan Anderson joins UTA

Jonathan Anderson, creative director of Loewe and JW Anderson, has signed with United Talent Agency following his costume design work on the films “Queer” and “Challengers.” “We are excited and honored to welcome Jonathan to UTA,” Blair Kohan, UTA board member and partner, told WWD. “He is a gifted designer whose visionary work has shaped fashion and culture for over a decade. We look forward to supporting him as he expands his creative influence in all forms of storytelling, building on his already extraordinary success.” {WWD/paywalled}

Is textile recycling the next big business?

While the textile recycling company Renewcell declared bankruptcy in February, Technip Energies, a French engineering company, believes that it can make textile-to-textile recycler Reju into a $2 billion business within the next 10 years. Industry leaders Gap Inc. and H&M Group have committed to utilizing recycled materials as they enter the market. However, the road to a multi-billion-dollar recycling business is still rocky. The innovative materials face challenges such as cheaper new-material alternatives and a lack of support for anti-plastic production measures in Saudi Arabia and Russia. {Business of Fashion/paywalled}

Quannah Chasinghorse is making way for fellow Indigenous models

Quannah Chasinghorse began modeling in 2020 when a Calvin Klein scout saw photographs of her advocacy work. She has since walked for Chanel and Gucci and says that every brand she’s worked with has given back to Indigenous communities. In the past four years, luxury brands and modeling agencies have welcomed almost two dozen new Indigenous faces, marking the beginning of fashion’s road to respectful representation of Native American people. {Business of Fashion/paywalled}

Harry Styles’ Pleasing and JW Anderson reveal capsule collection

Harry Styles and Jonathan Anderson collaborated on a capsule collection that includes colorful knits, tees, nail polish and more for Pleasing. The collection combines the brands’ mutual vibrancy and playfulness. “Founded on the back of friendship and mutual respect, this is one of our most special collaborations to date,” Pleasing Creative Director Harry Lambert said in a statement. “JW Anderson is a brand we feel so aligned with in terms of point of view, creativity and energy — and has been a brand we’ve wanted to collaborate with for some time… We’re excited to launch a colorful, joyous, exciting collection of products, and hope it brings our two communities as much happiness wearing it as it brought us when creating it.” Prices range from $20 to $990. Get a glimpse of the collection below. {Fashionista inbox}

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Source: Fashionista.com