Fashion News Alert: Layoffs at Popsugar, Margo Robbie’s New Job, Caroline Wozniacki Partners with Ovvo Optics, and Lord & Taylor Looks for a Turnaround

                                  lmage courtesy of latimes.com

In March 2018, the luxury brand announced it was launching two new Chanel brands, Coco Neige and Coco Beach that will be a part of the luxury brand’s ready-to-wear, haute couture, and cruise collections. And in April, Chanel released sneak peak images of the ad campaign of its new winter sports and après-ski collection with Margo Robbie front and center in the campaign.Karl Lagerfeld is designing both new Chanel brands with Coco Neige and Coco Beach being available in Chanel stores in July.

       Image courtesy of tubefilter.com

Pop Sugar cuts

There are more layoffs at fashion and entertainment publications. And this time around the cuts were at Pop Sugar.

It was announced on fashionweekdaily.com that Pop Sugar is to lay off 19 staffers. “We made the hard decision today to say goodbye to 19 people, roughly 5 percent of our team,” a spokeswoman for Pop Sugar told The Hollywood Reporter. “This was done to achieve profitability.”

Prior to layoffs, staffers at Pop Sugar were emailed a memo from Pop Sugar co-founder and EVP of culture and corporate citizenship, Krista Moatz, that the company snacks, breakfasts, lunches, and beverage options would end because of the excessive costs, totally more than $488,000 annually. “We will take a pause on providing snacks and most beverages in all of our offices,” Moatz wrote as reported in fashionweekdaily.com. “But we will continue to provide coffee, and filtered hot and cold water …”

Interestingly, layoffs came after Pop Sugar did extensive coverage of the 2018 Met Gala with staffers racking up major overtime hours. Met Gala overtime, snacks and beverage slashing and layoffs, hmm, make for a lethal combination!!

           Image courtesy of wwd.com

Caroline + Ovvo

Are you tired and fed up with celebrity fashion collaborations? You probably are, still, it is Fashion Reverie job to report them.

That said; tennis champion Caroline Wozniacki is partnering with Ovvo Optics on an eleven-piece eyewear collection. There will be seven styles for women and four styles for men with a butterfly silhouette on the women’s styles, as well as, Wozniacki’s favorite oversized silhouette on three of the styles.

“We were inspired by Caroline’s strong sense of self, her competitive spirit and her commitment to being the best,” explained Ovvo’s founders. Wozniacki is the 2018 Australian Open champion.

The C. Wozniacki + Ovvo Collection is now available through Ovvo. Price points range from $335 to $360 for the women’s styles and $335 to $375 for men’s glasses.

         Image courtesy of curbedny.com

Lord & Taylor’s revitalization

Lord & Taylor needs some help and Canadian retailer Hudson Bay Co. is just the company to turn things around. Armed with investment bankers and consultants developing new business strategies and deals, Hudson Bay Co. is primed to make this happen.

“Lord & Taylor is a storied brand and we will continue to evolve it for the future,” a Hudson’s Bay spokeswoman said in an emailed statement to fashionnetwork.com, declining to comment on moves the company was considering with investment bankers and consultants. “As we shared on our last earnings call, recent performance at Lord & Taylor has not met expectations. However, we see a lot of opportunity to grow the business.”

Lord & Taylor was acquired by Hudson’s Bay Executive Chairman Richard Baker, investment firm NDRC Equity Partners in 2006 for $1.2 billion dollars when the company’s retail sales were very good. No longer a standout store for upper middle class consumers, Lord & Taylor now struggles for traction with other retail chains like Macy’s, and if the trend of brick and mortars struggles continue, Lord & Taylor’s projections are dire.

“What do we offer consumers that’s differentiated?? If they can’t answer that question, they need to come up with a reason for consumers to care,” said Greg Portell, lead partner in the retail practice of A.T. Kearney, a management consulting firm in a fashionnetwork.com article.

New retails strategies for Lord & Taylor include launching a dedicated online store on retailer Walmart’s website, as well as closing some brick and mortar stores. “Hudson’s Bay should focus on having fewer stores,” Varghese said. “If that means selling certain brands, then so be it. Lord & Taylor does make sense.”

—William S. Gooch

 

 

 

 

 

 

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