Top Fashion News for This Week!
The Met Gala Was Meh....Okay
It's the fashion event that kicks off the summer - the Met Gala. In my book it's better than the Oscars because it is primed to show ACTUAL fashion (versus the safe, over-styled dresses we see at other events). As usual, Rihanna was the bell of the ball in Commes des Garcons, Jaden Smith brought his hair as an accessory, and Zendaya was a vision in a parrot-themed Dolce & Gabbana dress. Everyone else was tasteful and rather boring.
Rent the Runway + Walmart
Walmart is spending money like it's running out of style (see: acquisitions of ModCloth, Jet.com, & Bonobos). Now they are throwing cash at the feet of Jennifer Fleiss, co-founder of Rent the Runway. What do all of these businesses have in common? They successfully grew online businesses while cultivating serious customer loyalty.
Gwyneth Paltrow Teams Up with Anna Wintour
Gwyneth Paltrow's infamous Goop e-newsletter will soon be at your newsstand. In an era of magazines collapsing, Paltrow is getting ready to launch a quarterly publication starting in September 2017 with the help of Conde Nast.
- Trump had a sudden change of heart about NAFTA. But, it doesn't mean that the agreement is safe. Big changes are (supposedly) on the horizon.
- Kit and Ace axed its stores in the U.S. (but will be open in Canada and online).
- Balenciaga came out with a version of the iconic Ikea blue bag for a mere $2,145. Ikea had a hilarious response.
- Ascena Retail Group (which owns stores like Ann Taylor, Ann Taylor Loft, DressBarn, and Lane Bryant) was downgraded by Moody's to Ba3 due to "recent deterioration" in revenues and earnings. During the first quarter of 2017 they had a net loss of $35 million.
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