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These are the stories making headlines in fashion on Wednesday.
LVMH reshuffling sees Antoine Arnault step down as Berluti CEO
Antoine Arnault, the eldest son of billionaire and LVMH CEO Bernard Arnault, is stepping down as Berluti’s CEO. Arnault will stay on as chairman of the Parisian brand, but will be succeeded as CEO by Jean-Marc Mansvelt, who is coming from LVMH jewelry brand Chaumet. These changes are effective Jan. 1. Arnault will also keep his role as chairman of Loro Piana, vice chairman and CEO of Christian Dior SE as well as his oversight responsibilities for image and environment at LVMH. This change has sparked speculation over LVMH’s succession. {Bloomberg/paywalled}
Gucci sues several retailers over alleged counterfeits
Gucci has filed three lawsuits in Manhattan against Sam’s Club, Lord & Taylor and Century 21 alleging the retailers have “manufactured, advertised, offered for sale, sold, distributed, imported, and/or exported handbags bearing marks that are identical to or highly similar to the Gucci marks.” Gucci is seeking injunctive and monetary relief in the suit after the brand bought several handbags from Lord & Taylor and, upon inspection, deemed the bags “non-genuine.” Gucci also asked the court to compel Lord & Taylor to turn over counterfeit goods for “impoundment and eventual destruction, without compensation.” The suits against Sam’s Club and Century 21 included similar claims. {WWD/paywalled}
Paige Lorenze profiled by The Cut
Paige Lorenze, influencer and founder of the lifestyle brand Dairy Boy, opens up about her Connecticut-based aesthetic, ever-growing social media following and celebrity romances in a profile in The Cut. Since relocating to to Connecticut, her fashion hauls turned into cooking videos and she swapped a city background for a suburban life. As Emily Sundberg writes, “She’s a tradwife but without the husband or kids. She’s the girl next door but with Russian lip filler.” Dairy Boy, which sells trucker hats, apparel and denim, is said to bring in eight figures a year. “A thing that I get is, ‘How can you wear cowboy boots and be with your horse one day, then go wear Self-Portrait at Wimbledon the next?'” Lorenze told The Cut. “And I’m like, ‘Who the fuck said that I couldn’t?’ That’s a slay. That sounds like my ideal life.” {The Cut}
Designer Nancy Gonzalez pleads guilty to smuggling exotic-skin handbags
Colombian designer Nancy Gonzalez has pleaded guilty to illegally importing exotic reptile-skin designer handbags. She was charged with one count of conspiracy and two counts of smuggling handbags made from python and caiman skins — both of which are protected by the Convention on International Trade in Endangered Species of Wild Fauna and Flora —between February 2016 and April 2019. According to prosecutors, Gonzalez and the other defendants used relatives, friends and employees of the designer’s manufacturing business in Colombia to smuggle hundreds of handbags, purses and totes into the U.S., Business of Fashion reported. Gonzalez faces up to five years in prison on the conspiracy charge and 20 years on each of the smuggling charges, as well as hundreds of thousands of dollars in fines. {Business of Fashion/paywalled}
Rental service Nuuly becomes profitable
Nuuly, Urban Outfitters’ women’s rental subscription business, achieved its first profitable quarter in Q3 of this year after launching in 2019. (For $98 a month, Nuuly allows subscribers to rent any six items from its inventory.) In the third quarter, Nuuly drove $65.5 million in revenue, an increase of 86% from last year. The company saw a net increase of nearly 38,000 subscribers in the quarter, up to a total of 198,000 active subscribers at the quarter’s end. Due to Nuuly’s growth, Urban Outfitters, Inc. has invested $60 million in a second fulfillment center for Nuuly in the greater Kansas City, MO region, which will open in early 2024 and will allow the company to handle up to 600,000 subscribers. {Fashionista inbox}
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