Plus, how retailers can prepare for the next round of Trump tariffs.
These are the stories making headlines in fashion on Tuesday.
Authentic Brands Group acquires Sports Illustrated
Meredith Corporation has sold Sports Illustrated to marketing company Authentic Brands Group for $110 million. ABG, which owns the brands of celebrities like Marilyn Monroe and Elvis Presley, will assume the marketing, business development and licensing of the magazine’s intellectual property. “We are honored to welcome Sports Illustrated to the ABG family,” said Jamie Salter, founder, chairman and CEO of ABG in an official statement. “As one of the most iconic brands in sports media, SI is a cultural centerpiece with massive opportunities for growth across its burgeoning digital, TV and social platforms and industry-leading print magazine.” {Fashionista inbox}
Karl Lagerfeld memorial in Paris is planned for June
A Karl Lagerfeld memorial will be held at the Grand Palais in Paris on June 20 during Paris Men’s Fashion Week. The evening will consist of a musical performance staged by theater and opera director Robert Carsen, and feature video footage of the designer and interviews with his collaborators in the worlds of fashion, art and culture. {WWD}
How retailers can prepare for the next round of Trump tariffs
Earlier in May, President Donald Trump proposed tariffs on $325 billion of imports from China, including most apparel, footwear and accessories, which could go into effect as soon as June 24 and add 25% to the cost of these imported goods. According to data provided by trade organizations, about 40% of U.S. clothing imports and 73% of footwear imports are made in China, meaning the tariffs will impact a broad range of brands and retailers. If these companies want a shot at survival, they’ll have to tweak their supply chains and appeal to the government. {Business of Fashion}
Personalized phone cases are the new “it” bags
Personalized phone cases have replaced bags as the latest status symbol. And while logo-heavy labels like Louis Vuitton and Gucci have been selling luxury cases for years, the demand for customization has ushered in a new wave of specialist brands that focus on transforming handheld devices into personal style statements. {South China Morning Post}
Can cause-based commerce affect real change?
“The most vocal issues get the most attention, and the consumer dollar follows — and as these brands and independent artists reveal, cause-based commerce may be on the uptick,” writes Kaley Roshitsh for WWD. But can cause-based commerce make a real impact? Industry insiders say it can, because brands have brought attention to the importance of ethical sourcing and sustainable materials, as well as encouraged people to sign petitions and become more conscious consumers. {WWD}
Off-price retail posts strong quarterly sales
The discount sector is still hot: In the most recent quarter, TJX Cos. Inc. — owner of T.J. Maxx, Marshalls and more — pushed revenues up 6.8%, while Ross Stores Inc. moved ahead 5.8%. Analysts predict off-price retailers will continue to see strong sales if tariffs hit. {WWD}
The importance of influencers in China
If brands want to take advantage of the expanding luxury market in China, they’ll need to recognize the importance of influencers: “Influencers give consumers direction, inspiration and curation,” writes Daniel Langer for Jing Daily. “They help them to navigate through the quickly changing luxury market — to know which items are ‘hot,’ which sneakers are coolest, or which bag or jacket is best.” {Jing Daily}
Chiara Ferragni launched a makeup capsule with Lancôme
Chiara Ferragni is stepping up her partnership with Lancôme by creating her very own makeup capsule. Ferragni, who has served as an ambassador for the French beauty label for just over a year, has come up with three new shades of Lancôme’s best-selling L’Absolu Mademoiselle Shine and L’Absolu Lacquer lipsticks, and redesigned the brand’s Hypnose Drama mascara. Her range also features a palette that contains products for eyes, lips and cheeks. The collection is available online on Tuesday in Italy and will make its U.S. debut on June 13 in Nordstrom. {WWD}
Source: Fashionista.com
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