What the Hollywood Strike Means for Fashion

The Fight For Beauty's Top Talent; Richemont Drops on Signs Luxury Demand Falling; Temu Sues Shein Over US Antitrust Law

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WHAT YOU NEED TO KNOW TODAY: TUESDAY, JULY 18, 2023 The actors' strike is already changing how fashion works with Hollywood. Beauty companies face stiff competition for executive talent as LVMH, Kering and Puig invest in the category. Luxury stocks fell after Richemont reported a surprise drop in revenue from the Americas in its latest quarter. Temu has sued fast-fashion rival Shein, alleging it coerced manufacturers not to work with its competitor. Il Makiage owner Oddity Tech is targeting a $1.9 billion valuation in its IPO, higher than initially planned.

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MARKETING What the Hollywood Strike Means for Fashion By Diana Pearl and Cathaleen Chen

While red carpets have momentarily dried up for brands and stylists, the SAG and WGA's simultaneous strikes pose an unlikely opportunity for fashion companies to tap celebrity talent. READ MORE

BEAUTY The Fight For Beauty's Top Talent By Priya Rao

With luxury names like LVMH and Kering revving up their beauty businesses, pure play competitors need to safeguard their most prized possessions: their people. READ MORE

LUXURY Richemont Drops on Signs Luxury Demand Falling in US, China By Bloomberg

The Swiss luxury goods group reported quarterly sales that raised concerns over how weak the US and China markets might get. READ MORE

WORKPLACE & TALENT How I Became… An Omnichannel CRM Director in Fashion By Sophie Soar and Annabel Bolton Jackie Wong has held positions at Burberry, Moncler and Christian Dior. He offers advice on how to balance the science and creativity of marketing and how to build a network of like-minded professionals across industries. READ MORE

Fast-Fashion Retailer Temu Sues Rival Shein Over US Antitrust Law READ MORE

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NEWS BRIEFS Swatch sues Malaysia for seizure of Pride watches Il Makiage Parent Company Seeks Higher Valuation in US IPO Fashion Retailer H&M to Launch in Brazil

PARTNER CONTENT

At Gap Inc., Unlocking Creativity Through Internal Mobility Gap Inc., parent company of Gap, Athleta, Banana Republic and Old Navy, utilises internal mobility to offer talent multiple touchpoints across its brand roster, to upskill and re-engage its existing talent pool. Indeed, about 18 percent of Gap Inc. executives at the vice-president level and above started their careers working with product and customers in stores. BoF sits down with Lauren Kazemi, Athleta's vice president of merchandising, Rudy Montenegro, Gap Inc.'s director of store design, and Irtiza Rizvi, a design director at Banana Republic, to learn more about how they have leveraged Gap Inc.'s internal mobility opportunities. READ MORE

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