Another fashion news stream covering Jack McCollough and Lazaro Hernandez of Proenza Schouler succeeding Jonathan Anderson at Loewe, the fall of Forever 21 + reactions to a video bringing Rick Owens footwear into question and a video about the state of menswear.
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MORE INFO
Designers Jack McCollough and Lazaro Hernandez, better known as the duo behind New York label Proenza Schouler, are the new creative directors at Loewe, effective April 7.
They succeed Jonathan Anderson, who officially stepped down last week after an acclaimed 11-year tenure that catapulted the Spanish house into fashion’s big leagues.
That development further clears the the way for Anderson to eventually take up a creative role at Dior, as reported. Loewe and Dior are both owned by French luxury group LVMH Moët Hennessy Louis Vuitton.
Confirming a widely expected move exclusively to WWD, Loewe said McCollough and Hernandez would carry “the entire creative responsibility of all Loewe collections across womenswear, menswear, leather goods and accessories.”
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March 17 (Reuters) – Forever 21’s U.S. operating company on Sunday filed for bankruptcy for the second time in six years and said it would wind down its domestic operations, hurt by mounting online competition in the fast-fashion sector and weak mall traffic.
It blamed the situation on higher costs and companies taking advantage of duty-free treatment of low-cost packages from China to undermine its pricing power.
“We’ve been unable to find a sustainable path forward, given competition from foreign fast-fashion companies, which have been able to take advantage of the de minimis exemption to undercut our brand on pricing and margin,” said Brad Sell, finance chief at the company that operates Forever 21’s 354 U.S. stores.
De minimis refers to the U.S. waiver of tariffs and customs procedures on imported items shipped to invidiuals that are worth less than $800. It helps Chinese online retailers like Shein and Temu to keep prices ultra-low.
U.S. President Donald Trump paused his administration’s repeal of the clause in February after the rapid change created disruptions for customs inspectors, postal and delivery services and online retailers.
Forever 21 entered bankruptcy with $1.58 billion in debt, after losing more than $400 million over the last three years.
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