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Must Read: LVMH Revenue Grows 3% in Q1, The Folklore Unveils New Platform and Membership Expansion

Photo: David Zorrakino/Europa Press via Getty Images

These are the stories making headlines in fashion on Wednesday.

LVMH revenue grows 3% in Q1
LVMH reported revenue of €20.7 billion (about $22 billion) in the first quarter of 2024 as well as organic revenue growth of 3% amid an uncertain geopolitical and economic environment. Selective Retailing and Perfumes & Cosmetics saw the most organic growth in the first quarter, up by 11% and 7% respectively, followed by Fashion and Leather Goods at 2%. {LVMH}

The Folklore raises $3.4 million to expand platform, membership
After raising $3.4 million in a seed funding round led by Benchstrength (bringing its total amount raised to $6.2 million), The Folklore is expanding its wholesale platform for global brands with additional resources including: The Folklore Source, a freelancer and manufacturing marketplace; The Folklore Capital, a loan matchmaker; and The Folklore Hub, a resource center with educational content and downloadable templates. Also new: Brands can now sign up for a $39/month to access it all. {Fashionista inbox}

Cartier Women’s Initiative fellows

Photo: Courtesy of Cartier Women’s Initiative

Cartier Women’s Initiative announces 2024 fellows
The Cartier Women’s Initiative unveiled its 33 2024 fellows, including 27 fellows representing nine geographic regions, in addition to six fellows for the Science & Technology Pioneer Award and the Diversity, Equity & Inclusion Award (which is open to all genders). At the Cartier Women’s Initiative Awards Ceremony on May 22 in Shenzhen, China, the first, second and third place winners of each award will be announced. The first-place winners will receive $100,000 in grant funding, and the second- and third-place winners will receive $60,000 and $30,000 respectively. For more information on each of the 2024 fellows, visit here. {Fashionista inbox}

Photo: Courtesy of Puck

Puck launches twice-weekly fashion podcast
Puck is launching a twice-weekly podcast with Audacy Podcasts called “Fashion People.” Hosted by Lauren Sherman, the first episode drops on April 23 on the Audacy app, Apple Podcasts, Spotify and everywhere podcasts are available. With new episodes on Tuesdays and Fridays, the podcast will translate Sherman’s “Line Sheet” private email into audio form and will feature fashion-industry guests. {Fashionista inbox}

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Source: Fashionista.com

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