Photo: Vuk Valcic/SOPA Images/LightRocket via Getty Images
These are the stories making headlines in fashion on Friday.
How to protect women in fashion retail
The Sept. 20 announcement of a civil lawsuit against Harrods for the sexual assault allegations against late owner Mohamed Al Fayed, has raised questions of women’s safety in the fashion retail space. Observers agree that the only way to protect female employees is to deconstruct misogyny in the industry. To start, the UK government is cracking down on NDA regulations to prevent forced silence. {Vogue Business/paywalled}
“Another Jane Pratt Thing” launches
Fashion and editorial trailblazer Jane Pratt (of “Sassy,” “Jane” and “xoJane” fame) launched “Another Jane Pratt Thing” (AJPT), a community-driven platform where “readers are the bosses” on Substack Sept. 25. AJPT’s eclectic editorial team includes Charlie Connell, Cat Marnell, Vanessa De Luca and more. The platform will also host celebrity contributors such as Courteney Cox and Courtney Love. Read “Another Jane Pratt Thing” here. {Fashionista inbox}
Hermès CEO rejects Louis Vuitton comparisons as its sales accelerate
According to Citi analysts, Hermès could soon overtake Louis Vuitton as the biggest franchise in luxury fashion. The bank predicts that the house will exceed €20 billion in sales in 2027. In an interview, CEO Axel Dumas said that surpassing Louis Vuitton is not a goal for the family-owned brand, however, and that, “There is very little comparison between us.” And while Hermès has no plans to expand into businesses like eyewear and hospitality like its competitors, he mentioned that the brand would consider launching haute couture. {Financial Times}
The BoF 500 class of 2024 is here
The Business of Fashion welcomed 100 new fashion industry shapers to the BoF 500 class of 2024. Newcomers include Ayo Edebiri, Chemena Kamali, Gwyneth Paltrow, Charli XCX and Seán McGirr. Each entrant is selected for their leadership, creativity, innovation and impact. View the full list here. {Fashionista inbox}
CFDA, Nest and UNHCR launch refugee artisan accelerator program
The CFDA, global nonprofit Nest and the United Nations High Commissioner for Refugees have come together to launch a refugee artisan accelerator program. The program will benefit six social enterprises from around the world, each of which will receive six months of business development and market access support. The program will culminate with a virtual showcase for CFDA members. {WWD/paywalled}
LVMH CEO got $17 billion richer overnight
Bernard Arnault, CEO of LVMH, is currently the fourth-richest person in the world following the announcement of a stimulus package in China set to revive the country’s economy. With the expectation this will increase luxury demand, LVMH shares rose 9.9% Thursday. Arnault’s net worth grew by $17 billion to $210 billion; however, it only marked his third-largest one-day increase in wealth. {Bloomberg/paywalled}
Never miss the latest fashion industry news. Sign up for the Fashionista daily newsletter.
Source: Fashionista.com