Must Read: Estée Lauder to Cut Jobs to Bolster Margins, Gucci to Present Cruise 2025 in London

These are the stories making headlines in fashion on Monday.

Estée Lauder to cut jobs to bolster margins
Estée Lauder has initiated a cost-cutting plan to increase its profit margins, cutting about 3% to 5% of its global workforce, according to Reuters. The cosmetics giant has experienced underperforming sales in its Chinese market, "due to higher youth unemployment and a lingering property crisis." From the restructuring plan, Estée Lauder forecasts incremental operating profit between $1.1 billion and $1.4 billion. {Reuters}

Gucci to present Cruise 2025 collection in London
On May 13, Gucci will present its Cruise 2025 collection, designed by Sabato de Sarno, in London. The location links to Gucci's long history with the British capital and offers new opportunities to explore how British heritage informed the brand's storied Italian craft and design. (Guccio Gucci worked as luggage porter and liftboy at London's The Savoy hotel as a teenager.) {Fashionista inbox}

Why Nike fell from its golden era
Despite remaining an undisputed leader in the sportswear category boasting annual revenue of $51 billion, Nike's sales have stagnated and its shares are down 20% from last year — while its competitors are soaring. Nike's problems have several causes, Business of Fashion reported, including the early tenure of chief executive John Donahoe, an exodus of key staff, repetitious products and uninspired creative marketing. "We're prioritizing getting back on our front foot and identifying our key areas of growth: innovative product, distinctive storytelling and offering differentiated marketplace experiences," said Nike chief communications officer KeJuan Wilkins. {Business of Fashion/paywalled}

New Balance launches resale program
On Monday, New Balance entered the first-party resale market with the launch of New Balance Reconsidered. The program allows customers to exchange their used New Balance sneakers for a voucher to use toward future online purchases. The pre-worn shoes will then be sold online under the new Reconsidered section. "We know the footwear industry has a significant environmental impact, including too many products ending up in a landfill," John Stokes, director of sustainability at New Balance, told Glossy. "There are many things that have to shift. Launching Reconsidered is one piece of the puzzle, with a program objective to help extend product life for some of our products and get the most from what is already made." {Glossy}

H&M opens new SoHo location
On Monday, H&M opened a new store concept in SoHo, offering mobile checkout and smart mirrors in fitting rooms that provide personalized styling recommendations. Located at 591 Broadway, the almost 10,000-square-foot interior is inspired by SoHo's art gallery scene. The store also includes H&M's first in-store secondhand shop-in-shop in North America, allowing shoppers to buy trendy, pre-owned pieces. {Fashionista inbox}

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Jennifer Fisher debuts lab-grown diamond collection
Jennifer Fisher dives deeper into its commitment to socially responsible jewelry with the launch of its first lab-grown diamond jewelry collection. Reimagined classics in conventional diamond jewelry are centered, such as anniversary rings designed with intentionally larger stones meant to be worn on the pinky finger. "I wanted to create pieces that challenge the norm, pushing boundaries by removing the details that often bother me in traditional diamond jewelry. The collection is a celebration of individuality and a redefinition of what diamonds can represent in our lives," Fisher said in a statement. The new collection is available to shop at jenniferfisher.com, with prices ranging from $900 to $30,000. {Fashionista inbox}

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