Photo: Collier Schorr/Courtesy of Elle
These are the stories making headlines in fashion on Tuesday.
Zoë Kravitz covers Elle
Zoë Kravitz is Elle‘s March 2025 cover star. Photographed by Collier Schorr and styled by Stella Greenspan, Kravitz wears a Saint Laurent button-up top, tailored pant, polka dot tie and black belt on the cover. In the cover story written by Tyler McCall, Kravitz talks writing and directing her film “Blink Twice,” working with ex-fiancé Channing Tatum and her love of New York City. Elle‘s March 2025 issue will be available on newsstands March 4. Read the full cover story here. {Elle}
Inside Coupang’s Farfetch restructuring
A year since its acquisition of Farfetch, South Korean e-commerce giant Coupang has reinvigorated the retailer and pushed it towards profitability by shuttering side businesses, streamlining complicated logistics and selling off Violet Grey, Palm Angels and Off-White. Coupang reported that Farfetch nearly broke even on its earnings before interest, depreciation and amortization in November; but in pursuit of cutting extra fat, Coupang has slashed much of the muscle that allowed Farfetch to become a major player in online luxury retail. Coupang eliminated teams that woo Farfetch’s top-spending customers with personalized services, and Farfetch’s relationships with luxury brands have deteriorated as it no longer allows them to have a say in pricing. {Business of Fashion/paywalled}
Hein Schumacher steps down as Unilever CEO
Hein Schumacher is stepping down from his role as Unilever CEO and as a board director after less than two years on the job. Schumacher will leave the company on May 31. Fernando Fernandez, who currently serves as Unilever’s chief financial officer and executive director, will succeed Schumacher as CEO effective March 1. Fernandez previously held the position of president of Unilever’s Beauty & Wellbeing and also led some of Unilever’s best-performing markets as President Latin America, CEO Brazil and CEO Philippines. “It has been a privilege to lead Unilever,” Schumacher said in a statement. “We have made real progress and I am proud of what we have achieved in a short period of time. With a clear strategy, a portfolio reset in motion and a strong leadership team in place, I look forward to seeing Unilever move from strength to strength in the future.” {Unilever}
Global beauty industry struggles as demand slows and markets shift
Earnings reports from top global beauty companies released over the past few weeks show that some of the industry’s struggles are starting to deepen across geographies and categories following weakening demand in China that started about 18 months ago. Coty’s sales declined in the second quarter amid low demand in Asia and tight inventory management in the U.S., while Estée Lauder Companies cut 7,000 jobs following a bleak third-quarter outlook. Some experts note that beauty consumers are “cash-strapped” and looking for more innovation in the space as the skin-care world experiences a slowdown in the West. {WWD/paywalled}
Generative AI hits a fashion acceleration point
Following Donald Trump’s January executive order removing barriers to American AI innovation, American brands are now implementing more AI-powered algorithms and personalized merchandising strategies to compete with Chinese retailers like Shein, which boasts a 30-day inventory turnover and 6,000 daily product launches. For instance, China’s DeepSeek-R1, an open-source generative AI model built for about $5.5 million (far less than the tens of billions spent by Microsoft, Meta and Google on similar models) presents an opportunity for retailers to use AI to enhance trend prediction, personalization and customer experiences. In 2024, many retail executives planned to implement generative AI, but now in 2025, those plans are becoming reality. {Vogue Business/paywalled}
The retailers unlocking Africa’s luxury market
A handful of African multi-brand stores like Alara, Temple Muse and Merchants On Long have established themselves as destinations for luxury, but a new wave of retailers are now tapping into luxury’s limited footprint. The absence of LVMH, Kering and Richemont brand flagships offers opportunities for African entrepreneurs providing access to designer brands, such as Kenyan retailer Little Red, which stocks brands like Michael Kors, Etro and Bally. DuCarmo, a multi-brand retailer launched in 2016, is one of Angola’s key luxury players, selling brands like Valentino, Jacquemus and Bottega Veneta. Multi-brand stores Elle Lokko and Lokko House in Accra, Ghana, however, are not interested in stocking international luxury brands and focus on spotlighting African designers. {Business of Fashion/paywalled}
Homepage photo: Amy Sussman/Getty Images
Source: Fashionista.com
