Plus, when is closing a beauty brand the right option?
These are the stories making headlines in fashion on Wednesday.
Saks to go fur-free
Saks Fifth Avenue announced its commitment to stop selling products made using animal fur by the end of 2022 on Wednesday. In an official press statement, the retailer said it will close all of its fur salons by the end of 2021. Shearling, goatskin, cattle hide, feathers and faux fur products will continue to be sold online and in stores, but the department store will eliminate the sale of products made from animals that were raised for the use of their fur or those made with fur from wild animals. {Fashionista inbox}
Fendi to release limited-edition capsule designed by Kim Jones
On April 15, Fendi will drop a limited-edition capsule designed by Kim Jones that will be available at nine stores worldwide for two weeks. The capsule is a ready-to-wear extension of Jones’s debut couture collection for the luxury house and will feature new versions of the brand’s Baguette and Peekaboo handbag styles. {Fashionista inbox}
When is closing a beauty brand the right option?
Driven by a new wave of beauty brand closures, Rachel Strugatz looked at why conglomerates would choose to shutter a company entirely in a piece for Business of Fashion. “For strategic groups, closing a company should be a last resort, only after an owner determines that it would be too expensive to refresh it or if it’s part of a larger portfolio where another brand could sell to the same demographic with legacy positioning and bigger revenues,” Strugatz writes. “But before considering closure, experts suggest exploring other options, such as selling a struggling brand at a loss to get some of the money back or investing in a re-brand.” {Business of Fashion}
Report finds that garment workers are owed $39 million in severance pay
According to a report from the Worker Rights Consortium, garment workers are still owed millions in severance wages. The findings of the report obtained by WWD reveal that $39.8 million in severance pay — which is about $1,000 per worker — is owed to as many as 37,637 workers based on the factory closures in the industry. The factories investigated in the report supply brands such as H&M, Gap, Inditex and Nike. {WWD}
The stylist working to make the fashion industry less ableist
Stephanie Thomas has made it her mission to both remove negative perceptions of people with disabilities through styling, as well as to normalize adaptive technology. InStyle caught up with the sartorial changemaker to discuss her approach to styling, her feelings on the state of adaptive fashion and the joy she receives from putting people who live in an ableist society in pieces that they love. {InStyle}
The 2021 Yu Prize winners have been revealed
Investor, entrepreneur and philanthropist Wendy Yu announced the winner of the Yu Prize, her new award for emerging designers in China, on Tuesday. Designer Chenpeng took home the top prize, which included a $150,000 cash award, a year-long mentorship program with international industry experts and the opportunity to retail at Harrods. Other recipients of the prize include Susan Fang, who took home the Yu Prize Creative Pioneer Award in partnership with Piaget; Donsee10’s Danqi Chen, who received the Yu Prize Sustainability Champion Award in partnership with Rémy Martin; and At-One-Ment’s Wanbing Huang, who got the Yu Prize Infinite Beauty Award in partnership with luxury Chinese make up brand YUMEE. {Fashionista inbox}
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Source: Fashionista.com
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