Fashion News Friday: Rihanna Expands Her Empire
Welcome back to Fashion News Friday's were I get you caught up with what's currently happening in the fashion industry.
Nike's "Frat Boy Culture" In Hot Water
The past few months have not been looking too good for the Nike Corporation. The New York Times interviewed more than 50 people exposing alleged sexual harassment and gender discrimination within the company. Six male executives have stepped down from their positions and it was recently announced that former Nike vice president Jayme Martin will be replaced with Amy Montagne effective immediately. Montagne is the second woman to be promoted since the scandal rose in an effort to create " a culture of true inclusion."
Charming Charlie Exits Bankruptcy
With over $150 million dollars in debt, Charming Charlie filed for Chapter 11 bankruptcy in December 2017. Charming Charlies is a Houston based retailer known for their huge assortment of accessories. How did the company get to the point of bankruptcy? According to Charming Charlie CFO, Robert Adamek, in the past years they may have neglected to adapt to changes in the retail industry which resulted in revenue decreasing by 22% and profits falling 75%. Their restructuring plan includes a shift in ownership and 100 fewer stores giving the retailer room to exit bankruptcy. Hopefully, this shift in operations will elicit longterm success.
Lacoste's Creative Director Steps Down
Louis Vitton isn't the only fashion house making a change in leadership. After eight years as creative director at Lacoste Group, Felipe Oliveira Baptist is stepping down. during his tenure, he revived the brand by partnering with brands with a younger audience base. Baptista's vision is attributed to Lacoste's success, but current CEO, Thierry Guibert says he is "confident in the future successes of our brand." There's no word yet on what Baptista's plan is for the future.
Rihanna Expands Her Empire
On April 18th the first Instagram post on @savagexfenty was revealed with the caption "Don't change dat channel..." The image was of two televisions stacked on top of one another. The bottom TV monitor was filled with static, while the top tv showed a tight close-up shot of cleavage in a bra with a Savage X Fenty logo necklace strategically placed in between sed bosoms. How cryptic? Eventually, with each day that passed, each post made it more and more evident that Rihanna was behind the creation of a new lingerie line. She is featuring influencers of all shapes, sizes, and backgrounds. This body positive line is now part of Rihanna's apparent business model of inclusivity.
Over the years Rihanna has collaborated with various beauty and fashion brands. In 2011 she partnered with Armani Jeans. In 2013 she became part of the River Island brand and in 2014 there were collaborations with Balmain and Stella McCartney. Other collaborations include Puma, Manolo Blahnik, Dior, and so on and so on. These were all amazing collaborations, true to the essence of the Rihanna we know and love, but her last two brand reveals, Fenty Beauty and Savage X Fenty, seem like a different type of business venture. It is not the Rihanna name temporarily attached to a brand. There is an ownership and longevity that is present here. There seems to be a strategy to expand her influence in the fashion and beauty industry even further. Savage X Fenty is scheduled to drop on May 11. I can't wait to see what she has in store.