These are the stories making headlines in fashion on Friday.
Tracking the evolution of HermèsHermès is undergoing something of a transformation as it navigates the current state of retail. "On the one hand, Hermès' ultra-classic, stable positioning at the top of luxury's pyramid has made it one of the sector's largest and most resilient players, with sales bouncing back quickly from coronavirus lows as consumers flocked to its range of timeless, status-conveying items," writes Robert Williams for Business of Fashion. "On the other hand... Hermès' recent statements suggest a faster pace of change at the company, including adding new product categories and ramping up initiatives linked to sustainability, technology and omni-channel retail to meet the demands of the market." {Business of Fashion}
Founders Studio wants to support Black-owned beauty and wellness brandsMarketing agency BrainTrust is introducing Founders Studio, a branch of the company to "facilitate access for Black founders of beauty and wellness brands to the resources they need to strengthen their businesses," writes Beauty Independent's Rachel Brown. Founders Studio has already racked up an impressive group of corporate partners, including JPMorgan Chase & Co., Salesforce, Afterpay, Clearco and SHE Media. {Beauty Independent}
The FTC may be cracking down on MLMsMulti-level marketing companies like LuLaRoe have been exempt from the FTC's "business opportunity rule" — which establishes a set of requirements for people trying to get others involved in a business opportunity — for the last decade. But that could be changing, reports Emily Stewart for Vox: "The FTC announced in June that it would review the business opportunity rule as part of a revised 10-year review schedule — and there is hope that, this time around, MLMs might be roped in." {Vox}
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