Happy July and it is hot!! As we prepare for Fourth of July festivities, it’s time to pour the tea. While temperatures call for iced tea, Fashion Reverie has a piping hot cup of tea to serve you. Much is afoot in fashion, as creative director debuts are afoot (congratulations, Jonathan Anderson at Dior), and much else is happening in fashion. From big-time editors stepping down from their posts to once promising businesses floundering, it’s a summer of drama in fashion.
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Legendary Vogue editor-in-chief Anna Wintour has stepped down from her post after 37 years at the helm of arguably the most powerful fashion magazine in the world. She will retain her positions as Vogue’s global editorial director and Condé Nast’s chief content officer. While Vogue is searching for a new U.S. editor-in-chief, the rumor is that Wintour is stepping down from her post because she was pressured into giving Lauren Sanchez a digital cover ahead of her nuptials to billionaire Amazon founder Jeff Bezos. While Wintour might love Bezos’ donating to her annual Met Gala, she wasn’t keen about putting his bride on a digital cover. That was the straw that broke the camel’s back after 37 years.
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Drunk Elephant, once one of the most profitable beauty brands in the business, is now sinking like the Titanic. The brand’s sales have plummeted 65 percent as the company blames inventory issues. Inventory also doesn’t change the fact that people are no longer shopping for their products as they once were. Bankruptcy could be in their future.
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The speculation over who will take over Fendi has the fashion industry begging for the brand’s parent company, LVMH Moët Hennessy Louis Vuitton, to announce someone already. The latest name in the rumor mill is American fashion designer and senior vice president of design for Calvin Klein menswear, Willy Chavarria. Chavarria has arguably become one of the biggest names in fashion, and there was news that the designer has been in talks with Fendi about a potential gig. It’s possible he could become Fendi’s new menswear director, or also possible he’ll be the brand’s new creative director succeeding Kim Jones.
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Designer Francesco Rossi has left his creative director position at Marni in what many saw as a surprise. The apparent frontrunner to replace him is Meryll Roge, founder of her eponymous unisex Belgium-based fashion brand. Roge is no stranger to color or patterns, so she could be perfect for the next era of Marni’s aesthetic. Let’s see when the brand finally announces its chosen one.
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All is not well at Nordstrom as the company’s anniversary sale numbers are not what they used to be. Nordstrom’s anniversary sale was once a cash cow for the department store chain, aside from the holiday season and Black Friday. Now, sources say executives at the company are in a panic over why the anniversary isn’t performing the way it should. Has it occurred to the Nordstrom team that we are in an economic downturn and people are struggling to get by? Their marketing team is especially feeling the pressure as the company wonders where they went wrong. In this tough economy, this might lead to pink slips.
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After a lackluster financial performance, Roberto Cavalli is looking to sell. Cavalli passed away in 2024, but his eponymous label is still alive, although in less-than-stellar financial straits. As a result, the brand is looking for a buyer, to the surprise of no one in the industry.
Speculative buyers include Fraser’s Group, Uniqlo-owner Fast Retailing, and Qatari-based Mayhoola, which also owns Balmain and Valentino. Although Roberto Cavalli is struggling, it’s still a prominent name in fashion.
—Mr. Dippity Don’t
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