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Abercrombie & Fitch Rumored to Be Looking for a Buyer [Business Insider]
Abercrombie & Fitch has reportedly hired an investment banker from Perella Weinberg Partners to explore sale options. The retailer has undergone a massive makeover during the past few years, attempting to ditch its sexed up image in favor of one that’s more focused on positive, relatable marketing. The attempts to revamp its image have been less than successful, and competition from fast-fashion retailers and e-commerce isn’t helping. Shares fell 61 percent since March 2016; however, rumors of the sale sent shares soaring 14 percent Thursday.
Miroslava Duma Launches Fashion Tech Venture [Business of Fashion]
Miroslava Duma, the founder of Russia-based digital fashion and lifestyle site Buro 24/7, is launching a new venture that aims to help integrate fashion and technology as sustainable fashion practices in an effort to help transform the industry. Duma’s new company, called Fashion Tech Lab, will have three sections: “socially responsible investing”; connecting the fashion and tech industries; and an experimental lab, “which develops the technology [and applies it to] products or garments that will be innovative and solve customers’ problems – but at the same time will have modern design.” Employees are spread over five countries, including the U.S.
Enjoy This Vogue Video, “Elle Fanning’s Fan Fantasy” [Vogue]
Do you like puns? Do you also like Elle Fanning, star of the June issue of Vogue? Then please enjoy this video, produced as part of the 19-year-old’s cover package, in which Fanning fans her fans. Happy Friday.
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