Photo: John Lamparski/Getty Images for NYFW: The Shows
These are the stories making headlines in fashion on Wednesday.
Joseph Altuzarra to design for Victoria’s Secret
Victoria’s Secret announced that it will try its hand at ready-to-wear with Joseph Altuzarra as its first “atelier designer in residence.” Altuzarra will design a complete wardrobe for the Victoria’s Secret customer throughout 2025, combining his ethos of femininity and strength with the glamour and fantasy of the brand. In an interview with Vogue, the designer described working with the brand as “a dream.” {Vogue}
Saks and Authentic Brands Group launch joint luxury venture
Following the success of their collaborative Barneys New York pop-up store, Saks Global and Authentic Brands Group are teaming up to form Authentic Luxury Group. The new group, which combines the luxury retail experience of Saks Global with Authentic Brands’ licensing expertise, will house Barneys New York, Judith Leiber Couture, Hervé Léger and Vince. The group will aim to bolster brand growth through strategic licensing agreements and distribution. {Fashionista inbox}
Gucci names a new CEO
Stefano Cantino will succeed Jean-François Palus as CEO of Gucci effective Jan. 1. Formerly of Prada and Louis Vuitton, Cantino joined Gucci as deputy CEO in May. “I am deeply grateful to Jean-François for his dedication and loyalty to Gucci over this transitional period,” said Kering executive Francesca Bellettini in a statement. “I am confident that, building on what has been set up over the past 15 months, Stefano and the Gucci team will succeed in the mission to take Gucci back to the leadership the brand deserves.” {Kering}
Saudi wealth fund to take 40% stake in Selfridges
Saudia Arabia’s Public Investment Fund will become a minority partner in Selfridges, the UK department store chain, reports Business of Fashion. It will take a 40% stake, acquiring now-insolvent Signa Group’s share in the company, property and operating businesses. (The Public Investment Fund already held a 10% stake in the department store after Signa sold a portion of its original holding to the fund, the remainder of which will be transferred in the sale.) The fund will join Thai conglomerate Central Group, which owns 60% of Selfridges, as a partner investor. {Business of Fashion/paywalled}
Jennifer Lopez covers Interview
Jennifer Lopez is the 557th Interview cover star. In the cover image, photographed by Brianna Capozzi and styled by Haley Wollens, she wears a jacket, shorts and boots by Dior, along with Saint Laurent earrings. In an accompanying interview with comedian Nikki Glaser, Lopez discussed self-esteem, relationships and embracing being single. {Interview}
What’s next for brand activations?
Retail vacancies are at a decade-low in the United States, marking an end to the golden age of pop-up stores. Small retail brands are looking to other low-risk methods of in-person engagement, including collaborations, trunk shows, hotel partnerships and college campus activations to connect with customers. Cathaleen Chen explores the shift for Business of Fashion. {Business of Fashion/paywalled}
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Source: Fashionista.com
