View the original article to see embedded media.
These are the stories making headlines in fashion on Friday.
Meet Blackpink’s new artistic director
K-Pop supergroup Blackpink has a new artistic director: Verdy, a popular Japanese graphic designer and artist. He will reportedly “create a world that merges his distinct artistic touch with Blackpink’s ultra-feminine aesthetic,” as well as create “an exclusive capsule collection” for the group’s ongoing world tour. Previously, Verdy has collaborated with the likes of Instagram, Coachella, Levi’s and more. This is also Verdy’s second time officially working with Blackpink, as they connected for the listening party of the group’s 2022 album “Bornpink.” {Highsnobiety}
LVMH Innovation Award goes to repair startup
Save Your Wardrobe, a platform that helps connect stores with repairers like cobblers and tailors to fix clothing, shoes and more, has been awarded LVMH‘s 2023 Innovation Award. In a statement, chairman and CEO of LVMH Bernard Arnault said, “I am convinced that their solution will very quickly resonate with the aspirations of our maisons and the expectations of our customers.” The startup already partners with Hugo Boss and Zalando and is in talks with Louis Vuitton and Celine. {Vogue Business/paywalled}
DTC brands want their own factories — but should they?
With a growing amount of DTC brands seeking to cut out the ‘middleman’ in production and open their own factories, Malique Morris at Business of Fashion explains how realistic — or not — vertical integration is. Many of these decisions are related to quality control and having detailed and full oversight of the supply chain. The move to build its own facility, for example, benefitted basics brand American Giant after its previous factory derailed one of its orders to accommodate a different, bigger brand, a move which founder Bayard Winthrop says, “almost killed the business.” {Business of Fashion/paywalled}
What profitability should look like for a beauty brand
For Beauty Independent, Rachel Brown elaborates on a LinkedIn post by founder and managing partner of Selva Ventures, Kiva Dickinson, that breaks down what a “healthy” beauty brand seeking investors or buyers looks like in numbers. Other business leaders highlighted the importance of customer retention as opposed to customer acquisition. Ultimately, buyers are looking for brands that are “laser-focused on gross margin,” according to Dickinson, and, according to Rakesh Narayana, GM of Access VC, “don’t need to be sold to survive.” {Beauty Independent}
Homepage photo: Emma McIntyre/Getty Images for Coachella
Want the latest fashion industry news first? Sign up for our daily newsletter.
Source: Fashionista.com
