Photo: Courtesy of Skims
These are the stories making headlines in fashion on Monday.
Skims acquires Skkn by Kim
Kim Kardashian’s Skims has acquired Skkn by Kim from Kardashian and Coty Inc. The lifestyle company now welcomes cosmetics and skin care into its portfolio. Contract terms and financial details of the acquisition have not been shared, but Skims announced this purchase allows it to venture into beauty and fragrance, alongside its strongly established apparel categories. “This acquisition isn’t just growth,” Jens Grede, Skims CEO and co-founder, said in a statement. “It’s about the strength of our brand and our ability to enter a new category with authority.” {Fashionista inbox}
How brands handle creative director transitions
Amid fashion’s ongoing game of creative director musical chairs, the transition to a new designer can leave internal brand employees in a state of uncertainty. Retention strategies and transparent communication can help reduce any paranoia about an employee’s job security following the hiring of new creative leadership. As for the creative directors themselves, allowing new designers time to build momentum and grow in their position can also help mitigate internal House disruption. “We owe it to the creatives to not ruin their careers over an abrupt change. In a world where transparency is more desired, there are ways to do that,” Karen Harvey, a fashion headhunter and founder of Karen Harvey Consulting, told Vogue Business. {Vogue Business/paywalled}
Bad Bunny’s Calvin Klein campaign sees strong media impact value results
Calvin Klein’s latest underwear campaign starring Bad Bunny generated $8.4 million in media impact value (MIV) in less than 48 hours, Launchmetrics reported. The campaign accumulated more than 3.7 million likes and 56 million views across Instagram and TikTok. Bad Bunny isn’t the only celebrity to achieve high MIV numbers for the brand: Jungkook’s Calvin Klein Jeans campaign in August 2023 earned $13.4 million and Jeremy Allen White’s underwear campaign last year generated $12.7 million in MIV. {WWD/paywalled}
Hudson’s Bay to begin liquidating stores
Canadian retailer Hudson’s Bay will begin to liquidate all but six of its stores effective immediately, with the process lasting through mid-June. One of the remaining store locations includes its Toronto flagship. The retailer had an unsuccessful expansion strategy and was unable to keep up with consumers’ changing spending habits. Ultimately, it fell into a major financial crisis, owing $766 million in debt, and failed to find investors and lenders to help pay creditors. {Bloomberg/paywalled}
Source: Fashionista.com
