High Stakes at Milan Fashion Week

Inside Estée Lauder's big acquisition, Virgil Abloh on the BoF Podcast

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WHAT YOU NEED TO KNOW TODAY: WEDNESDAY, FEBRUARY 24, 2021 This Milan Fashion Week is critical to the rebounds of Italian luxury brands from Prada to Valentino. Estée Lauder is acquiring a majority stake in Deciem, maker of viral $6 serums, at a $2.2 billion valuation. A growing number of young Chinese consumers are feeling disillusioned with materialism. Dover Street Market is opening Little Market in Paris to showcase its seven DSM Paris labels. Plus, tune into Virgil Abloh on elevating the next generation of fashion creatives on the BoF Podcast.

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LUXURY High Stakes at Milan Fashion Week By Robert Williams

From Prada to Valentino, Italian brands need the right creative thrust to rebound from the pandemic. Here's what to watch for at this week's Milan shows. READ MORE

BEAUTY Why Estée Lauder Is Finally Acquiring Deciem By Cheryl Wischhover

The American prestige beauty giant's purchase of the company, best known for $6 serums, is a sign of the increasing blur between drugstore and luxury. READ MORE

CHINA Young Chinese Are Criticising Consumerism. What Does This Mean for Fashion? By Zoe Suen

There's a small but growing movement against heavy spending in the world's largest fashion market as more young people feel disillusioned with materialism. READ MORE

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NEWS BRIEFS Gucci Extends Lease at Trump Tower in NYC Self Editor Carolyn Kylstra Heads to Google Moncler Acquires the Remaining 30% of Stone Island Dover Street to Open 'Little Market' in Paris Vogue Names Juan Costa Paz as Global Creative Director Priya Ahluwalia Wins Queen Elizabeth II Award for British Design Valentino, Nike, Adidas Among Brands Speaking Out Against Anti-Asian Violence Macy's Forecasts Upbeat 2021 Sales on Stimulus Checks, Online Shoppers Myanmar Apparel Exports to Fall Further Following Coup H&M Collaborates with Chinese Designer Label Pronounce

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PODCAST How Virgil Abloh Is Lifting Up Fashion's Next Generation of Creatives By BoF Team

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Bottega Veneta Is Hiring Opportunities at Bottega Veneta include a Wholesale Communications Manager and a CRM Coordinator in Milan, as well as a Women's Regional Buyer in New York. Helmed by CEO Bartolomeo Rongone since 2019 and under the creative direction of Daniel Lee since 2018, Bottega Veneta offers menswear, womenswear, accessories and homeware. Last year, the Kering-owned brand generated sales north of €1.2 billion. VIEW JOBS

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