Each week LCF News brings you a round up of the most interesting stories impacting the fashion industry.
Michael Kors acquires Versace for $2.1 Billion
In the race to build America’s first-ever luxury conglomerate, Michael Kors Holdings, now renamed Capri Holdings, has acquired the world-famous Italian fashion house for a value of approximately $2.12 billion, including debt, the company announced on Tuesday. But does it have what it takes to turn Versace’s price tag into profit? Read the full story on Business of Fashion.
Farfetch raises share price range ahead of IPO at New York Stock Exchange
European online fashion retailer Farfetch is set to be valued at between $4.9bn and $5.5bn in its initial public offering this week after it increased its expected price range in response to investor interest in technology stocks. Farfetch, which will list in New York Stock Exchange this week, has set a price range of $17 to $19 a share, according to an updated regulatory filing published this week. The company was founded a decade ago by Portuguese entrepreneur José Neves and runs a website selling clothes for luxury brands including Gucci, Fendi and Valentino that ships to customers in 190 countries. Read the full story on the Financial Times.
Is Asos Forging Ahead As The Most Conscious High-Street Brand?
Vogue recently published an article highlighting ASOS’s attempts to bring inclusivity and sustainability to the forefront. The e-commerce giant released a second collaboration with LGBTQ+ charity GLAAD; welcomed paralympian Chloe Ball-Hopkins into its design team for a special project; and turned its cut-offs into sanitary pads for women in Africa. It also pledged to ban the sale of mohair, silk, cashmere and feathers across its entire platform and launched a sustainable fashion training programme alongside LCF’s Centre for Sustainable Fashion. These headline-grabbing promises, are setting the agenda for the high street. Read the full article on Vogue.
Balmain partnered with Facebook for a virtual reality runway show for their SS19 collection
Parisian fashion brand Balmain partnered with Facebook and Oculus for a 360 VR experience for their SS19 runway show. London College of Fashion was lucky enough to receive an Oculus Go headset to try out. Students and staff were able to see the show live alongside the fashionistas on the front row.
The Milan SS19 shows have seen the return of the supermodels of the Nineties, the first-name-only faces that defined an era and made fashion feel like fabulous fun. Versace, a supermodel factory as always, led the charge. Mariacarla Boscono after a turn on the Burberry catwalk last week, took to the catwalk with Liya Kebede, while Shalom Harlow closed the show. Dolce & Gabbana, enlisted Carla Bruni and Eva Herzigova alongside other vintage headliners such as Isabella Rossellini and Monica Bellucci, to drive home the message: older, wiser, sexier. They’re looking better than ever, says Ellie Pithers from Vogue.
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