Fashion News Alert: Reese Witherspoon Partners with Elizabeth Arden, Billionaire Kylie, Diesel Files for Bankruptcy, and More Retail Store Closings

Image courtesy of Kylie Cosmetics

On Tuesday, Kylie Jenner was named the youngest billionaire of times by Forbes magazine. Jenner’s Kylie Cosmetics, which debuted online in 2015, containing lip liner and lipstick kits for $29 has pushed Jenner into the billionaire class.

Kylie Cosmetics, owned 100% by Kylie Jenner, did an estimated $360 million in sales in 2018. Jenner acquired additional income from making personal appearances and appearing on the reality television show “Keeping Up with Kardashians.”

In 2018, Kylie Jenner signed a deal with Ulta Beauty Inc to put her Kylie Cosmetics’ products in all Ulta Beauty’s 1,163 US stores.

Image courtesy of Elizabeth Arden

 

Reese Witherspoon and Elizbeth Arden celebrate women

Many fashion brands are gearing up to celebrate International Women’s Day. Elizabeth Arden is celebrating by partnering with Reese Witherspoon on a new lipstick. According to the brand’s statement the lipstick’s hot pink shade “Pink Punch’ was inspired by the next generation of young female leaders.

The limited-edition lipstick, ‘March on Beautiful Color Lipstick,’ total sales proceeds will be donated to UN Women. The funds raised will continue to fuel the non-profit organization’s ‘Making Every Woman & Girl Count’ gender data initiative.

“It’s an incredible time to be a woman,” said Witherspoon in a statement. “The work we’re doing with Elizabeth Arden and UN Women is igniting real change and increasing possibilities for women globally.”  “I’m in this for all women—for my daughter, my mother, and all the amazing women in my life,” adds Witherspoon.

Elizabeth Arden has a history of working for women’s causes. Back in 1912, Elizabeth Arden provided red lipstick to suffragettes marching on Fifth Avenue. The “March On Beautiful Color Lipstick” is now available at ElizabethArden.com and in department stores globally.
 
“This campaign serves as a symbol of women’s strength and the powerful possibilities when we support one another,” said Ava Huang, General Manager, Elizabeth Arden. “We are grateful for our partnership with UN Women and their dedication and impactful work toward gender equality.”

Image courtesy of designboom.com

Trouble for Diesel USA

On Tuesday, Diesel USA Inc, the denim and accessory brand known for its jeans, filed for bankruptcy. According to the company the cause was sales decline, cypher fraud, and expensive store leasings.

Diesel USA, which is the New York-based unit of Diesel SpA filed for Chapter 11 protection for creditors in US bankruptcy court in Delaware. Diesel USA has been the sole distributor of Diesel products in the US.

Diesel USA has lost money for the past six years, as annual sales decreased by 53%. And over the last three years the company lost $1.2 million dollars due to cypher fraud. Chief Restructuring Officer Mark Samson detailed in court proceedings that Diesel USA has no intention to shutter, but will restructure by closing some 28 stores, improving its product lines and attempting to appeal more to Millennials, Generation Z, and other consumers.

Image courtesy of footwearnews.co

More store closings

2019 is already proving to be a year of lots of store closing. Payless is stacking up to be the number one company to close stores in 2019. It is reported in usatoday.com that Payless is holding liquidating sales in 2,590 stores with many stores expected to close by the end of March.

Next apparel store to close relative to number of stores in The Gap. The Gap is slated to close more than 230 stores over the next two years. Next in line is Victoria’s Secret that is projected to close 53 stores in 2019.

According to global marketing research firm, Coresight Research, more than 6,300 stores are scheduled to shutter in 2019. Though this amount of store closings is lower than occurred in 2017—a high of 8,139–this number of brick and mortar closing is still very high.

—William S. Gooch

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