admin Photo: David Dee Delgado/Getty Images
These are the stories making headlines in fashion on Friday.
Kylie Jenner is considering buying back $600 million stake in Kylie Cosmetics
After selling 51% of her beauty brand, Kylie Cosmetics, to Coty Inc. in 2020, Kylie Jenner has been having informal discussions about buying the $600 million stake back to regain ownership, according to Bloomberg. Jenner’s sister, Kim Kardashian was reported to be exploring her own buy-back deal with Coty Inc., regarding her skin-care line SKKN by Kim — pointing toward a strained relationship between the famous family and the beauty conglomerate, reportedly due to the sisters’ dissatisfaction with how the company has been directing their eponymous brands. {Bloomberg/paywalled}
Hollywood stylists discuss unionizing
According to industry sources, Hollywood stylists are seriously considering unionizing. One reason is that the most typical industry rate for a celebrity stylist is $500 per outfit, which often does not cover the costs of transportation, stylist assistants, tailoring and other expenses. “The stylists need to agree that the union is the most important thing, and that means once they join, they can’t work on non-union productions,” said fashion attorney Kaitlin Puccio. “This way, any studio that wants to hire the best of the best needs to have a union contract.” Once organizers settle on a strategy and enough members have joined, they can petition with the National Labor Relations Board to officially represent the workers. {Business of Fashion/paywalled}
The evolution of Kering Beauté
For WWD, Jennifer Weil breaks down the evolution of Kering Beauté, seven months after the French luxury house announced Raffaella Cornaggia as chief executive officer of the division. The company has begun taking its beauty brands back in-house, starting with the likes of Bottega Veneta, Balenciaga and Alexander McQueen. (The beauty license for Gucci is still held by Coty Inc., while L’Oréal currently has Yves Saint Laurent.) Kering Beauté also acquired the fragrance house Creed for €3.5 billion in June. {WWD/paywalled}
Gucci hires marketing head from Valentino
Former chief brand officer at Valentino, Alessio Vannetti, has been named to the same role at Gucci amid restructuring in the house’s C-suite, including the forthcoming departure of CEO Marco Bizzarri. The news also comes just weeks before new designer Sabato de Sarno will debut his first collection for the brand during Milan Fashion Week. Vannetti previously held the position of global communications director at Gucci from 2015 to 2019. Stabilizing the brand aesthetic and overall messaging in the wake of Alessandro Michele’s exit will be the main task for Vannetti. {Business of Fashion/paywalled}
Want the latest fashion industry news first? Sign up for our daily newsletter..
