This week, major fashion industry titles brought top designers to a variety of locations including Wall Street, courtrooms, auction houses, football fields and runways.
Topping the list is Kim Kardashian’s SKIMS reportedly engaged in a pre-IPO fundraiser from “mutual funds and family offices” that will value the four-year-old company at $4 billion. Meanwhile, Shein has been charged with copyright infringement in a new lawsuit citing RICO violations by three designers, who say the fast fashion company has ‘enriched itself by committing individual infringements even further. and even”.
Elsewhere, Sotheby’s has opened a new auction, titled ‘PERSONAL EFFECTS’, filled with all sorts of designer Hiroshi Fujiwara’s personal items; Prada has been named official partner of the Chinese women’s national football team; Rihanna (and her baby bump) starred in Savage X Fenty’s new Sheer X campaign, and Ralph Lauren announced her return to New York Fashion Week.
Below, Hypebeast has rounded up the best fashion stories of the week so you can stay up to date on industry trends.
Kim Kardashian’s SKIMS set to be valued at $4 billion ahead of pre-IPO round
Kim Kardashian’s SKIMS is reportedly in the midst of a “mutual fund and family office” fundraiser that will put the shapewear brand at a $4 billion valuation.
The round is not over yet. This is a pre-IPO fundraising effort that will give the company a head start for a potential offering in the next six to 12 months. In January last year, SKIMS raised $240 million in a Series B fundraising round, which boosted the brand valuation to $3.2 billion.
Notably, SKIMS has only been around for four years. It has become hugely successful in a short time, thanks to its famous founder, popular products and a host of campaigns featuring the likes of Snoop Dogg, SZA and many others.
Shein charged with copyright infringement in new lawsuit citing RICO violations
Chinese fast fashion giant Shein faces new lawsuit from three artists and designers claiming the company violates the Racketeer Influenced and Corrupt Organization Act (RICO) by infringing on their intellectual property to create and sell copied items. The plaintiffs allege that the brand “has grown rich by committing individual offenses time and time again, part of a long and ongoing racketeering, which shows no signs of abating.”
While the company continues to produce up to 6,000 new items daily, the lawsuit alleges that Shein uses a “Byzantine shell game of corrupt structure” to steal artists’ designs. Using RICO’s bylaws, the three designers are seeking to put an end to Shein’s “illegal operation”, which has seen the company “produce, distribute and sell exact copies” of their work.
Read more about the lawsuit here.
Rihanna Fronts From Savage X Fenty’s New Sheer X Lingerie Campaign
Ahead of the launch of Savage X Fenty’s all-new Sheer X lingerie collection, Rihanna showcased the brand’s latest cuts in a slew of new campaign images Monday featuring her baby bump, photographed by Dennis Leupold. The line, which Rihanna designed herself, seeks to strike the right balance between comfortable and sultry with breathable materials and lightweight constructions.
In an interview with SHE, Rih said, “I always like to bring a fresh approach to lingerie in a way that feels authentic to Savage X Fenty, and Sheer X is the next step in that. It’s a question of balance with this collection, united and sexy.
Savage X Fenty’s Sheer X line is now available on the brand’s online store. Take a look at the campaign here.
Hiroshi Fujiwara Auctions His Personal Belongings at Sotheby’s
Sotheby’s latest auction, titled ‘PERSONAL EFFECTS’, houses a number of personal items belonging to famed streetwear designer Hiroshi Fujiwara.
The auction, which takes its name from the 2009 book that showcases the items included, offers a deep dive into the visionary’s attic, with more than 50 items spanning fashion, art and collectibles available for auction. Among them, the sale includes a 1936 Levi’s 506XX T-back denim jacket, a Nike Dunk Hi x Fragment Design prototype and a vintage Hermes Haut à Courroies.
PERSONAL EFFECTS Sotheby’s: The Hiroshi Fujiwara action is now open via Sotheby’s Hong Kong. Browse the listings on the Sotheby’s website.
Fiorucci named new creative director, CEO and investor
Following the departure of Daniel W. Fletcher from the brand, Fiorucci has appointed a new investor, CEO and creative director.
Francesca Murri, who has previously worked for brands such as Versace, Gucci, Givenchy and Ferragamo, will take on the role of creative director, working alongside new CEO Alessandro Pisani to renew Fiorucci with a “creative rebuild”. The brand will return to Milan for this next era, thanks to new investor Dona Baertarelli.
In a statement, Pisani said: “Fiorucci is one of the greatest protagonists in the history of Italian fashion. Its founder Elio Fiorucci sparked a positive cultural disruption that democratized the style across the world and intermingled with progressive popular art forms, from visual arts to music. Our mission now is to revive that unique playful attitude and reshape its disruptive legacy to inspire a new generation.
Ralph Lauren will be back at New York Fashion Week in September
Ralph Lauren will hold a show during New York Fashion Week in September, according to WWD.
The event will take place on the evening of September 8, but the location has not yet been announced. According to the outlet, the show will include a women’s collection, although it’s not yet confirmed if it will also feature men’s wear.
The fashion show will mark Lauren’s comeback to NYFW. The designer hasn’t appeared on the calendar since September 2019, when he launched his upscale supper club, Ralph’s Club, on Wall Street, followed by a performance by Janelle Monáe. In the years that followed, Lauren held off-schedule shows in Los Angeles and New York.
Prada named official partner of the China women’s national football team
Prada revealed an official partnership with the China women’s national soccer team on Monday, just in time for the team’s arrival in Australia ahead of the FIFA Women’s World Cup later this month.
Nicknamed the “Steel Roses”, the 23-man squad will wear the Italian fashion house’s designs for official events and travel. The official team uniform, which consists of a black blazer with matching trousers, a pointed button down shirt and Prada loafers, is designed to provide the team with “a fresh and contemporary image off the pitch “, according to Prada.
“The China women’s soccer team has earned a global reputation and is an inspiration to young female athletes, drawing public and institutional attention to democratic and inclusive sport,” Prada said in a statement. a statement.
The Fashion Revolution Transparency Index offered new insights into the industry’s sustainability goals
The Fashion Revolution Transparency Index is an annual report that documents the workers’ rights, buying practices and salaries of 250 fashion brands, with the aim of determining the industry’s current commitments to sustainability. In its eighth iteration, this year’s index looked at brands with revenues exceeding US$400 million across 258 very specific metrics, according to WWD.
The report showed promising results, including two fashion brands surpassing the 80th percentile of the index for the first time since its inception. Gucci (80%) and OVS (83%) led the way with the highest scores, and Gucci had the biggest increase over last year.
However, the report also said that several major brands could not meet industry sustainability targets because they shared little or nothing with the index. Specifically, the following 18 brands scored 0% in the report: Anta, Belle, Big Bazaar, Bosideng, Fashion Nova, K-Way, Koov, Max Mara, Metersbonwe, Mexx, New Yorker, Heilan Home, Savage X Fenty, Semir, Splash, Tom Ford, Van Heusen and Youngor.