Must Read: The Virgil Abloh Foundation Names First Executive Director, Tyra Banks Covers 'Essence'

These are the stories making headlines in fashion on Wednesday.

The Virgil Abloh Foundation names its first executive director

Founded by Shannon Abloh to continue her late husband’s legacy, The Virgil Abloh Foundation has appointed Dana Loatman as its first-ever executive director. In this role, Loatman will continue Virgil Abloh’s mission of offering opportunities for underrepresented youth in creative fields. Loatman will also oversee the foundation’s operations, strategic planning and program development. Loatman was most recently the chief of staff of external affairs at the Obama Foundation. “Virgil was a visionary who believed deeply in not only opening doors — but keeping them open — for underrepresented young creatives who would come after him,” Loatman said in a statement. “I am deeply honored to lead The Virgil Abloh Foundation and carry forward the incredible legacy that he envisioned. Together, with Shannon, partners and collaborators, I will work endlessly to create limitless pathways and build a more equitable and inclusive industry for the next generation of creatives.” {Fashionista inbox}

Tyra Banks covers Essence

Tyra Banks is Essence‘s cover star for its March/April Beauty Issue. Photographed by Kenny Germé and styled by Edem Dossou, Banks wears an Agapornis coat, Dawei Studio dress, Florence Moorhead earrings and Laruicci sandals on the cover. In the cover story written by Brooklyn White, Banks discusses “America’s Next Top Model,” aging in the modeling industry and returning to the runway. {Essence}

What’s behind L’Oréal’s niche fragrance investments?

Although L’Oréal lost out on acquiring fragrance brand Byredo in 2022 (to Puig), the beauty giant has not given up on the niche fragrance market. Amouage and Borntostandout are among its recent fragrance investments as the company has observed that consumers are interested in fragrance brands built on craftsmanship and authentic branding. “It wants a bigger slice of the ultra-luxury olfactory segment,” Johanna Monange, founder of perfume house Maison 21G and former creative director for International Flavors and Fragrances, told Glossy. “Entering the niche category is a logical step for them to maintain market leadership.” {Glossy/paywalled}

Dallas city and business leaders rally to save Neiman Marcus flagship

On Tuesday morning, Dallas business leaders and city officials gathered at the downtown Neiman Marcus flagship to urge Saks Global and a property landlord to keep the store open. A decade of talks between Neiman Marcus and the landlord had broken down, which Saks Global says forced it to close the location. The coalition is trying to bring Saks Global and its ground lessors back to the negotiating table. “We believe that it’s crucial for Neiman Marcus to remain in this space and continue to serve as a cornerstone of our city’s identity and a catalyst for ongoing growth,” City Manager Kimberly Bizor Tolbert​​​ said. {Retail Dive}

Can Madewell compete in today’s crowded retail environment?

Madewell first took off in 2006 among style-conscious Millennial women by filling a white space between work-appropriate clothing and athleisure. Now, the original Madewell customer has grown up and the brand is no longer a fashion voice for any specific demographic. Some customers still rely on Madewell’s denim, but others share that its quality has diminished, and they instead turn to Quince and Everlane for lower-price alternatives. Puck’s Sarah Shapiro asks: “Can [Madewell] sell jeans to those same women now that they are actual moms, especially in a far more competitive retail environment?” With its latest spring collection, Madewell appears to be trying to capture the customer who admires brands like Nili Lotan, Veronica Beard and TWP but can’t afford them. To remain relevant, Madewell needs to recapture its status as a denim authority or appeal to younger shoppers. {Puck/paywalled}

Madonna covers CR Fashion Book

Madonna makes her CR Fashion Book debut with seven separate covers photographed by Steven Klein and styled by Carine Roitfeld. The edition features “Funeral Rites,” a story written by Madonna that served as inspiration for the cover shoots. “A distraught widow, overcome with grief, drives up in a vintage black Cadillac with tinted windows,” reads an excerpt. “There’s a small handgun in her bag, which is open on the seat of the car. She’s a mess. A woman in distress. She lights a cigarette. There are legal papers on the floor.” Throughout the story, Madonna dons looks by Swarovski, Jean Paul Gaultier, vintage Hermès, Maison Margiela, Gucci, Chanel, Saint Laurent, Louis Vuitton and more. CR Fashion Book Issue 26 will be available on newsstands on March 24. See all seven covers above. {CR Fashion Book}

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Source: Fashionista.com