Must Read: How The Fall of Noncompete Clauses Will Impact Fashion, Estée Lauder Creates AI Innovation Lab
Photo: Slaven Vlasic/Getty Images for The New York Times
These are the stories making headlines in fashion on Friday.
How the fall of noncompete clauses will impact fashion
The U.S. Federal Trade Commission issued a ruling this week that significantly curtails the use of noncompete agreements, which stop former employees from working for a company's rival for a certain time period. Noncompete agreements have been a popular way for fashion to companies retain talent, but now the FTC has barred companies from creating new noncompete agreements or enforcing existing ones. For fashion workers in mid-level and below positions, this ban could expand their career prospects and offer new opportunities. {Business of Fashion/paywalled}
Estée Lauder Companies creates AI innovation lab
Estée Lauder Companies teamed up with Microsoft to create an artificial intelligence innovation lab that aims to implement generative AI across ELC's beauty brands. The main goal of this project is to develop tools to help its team quickly identify and respond to trends while applying the findings to product development, Maghan McDowell writes for Vogue Business. One current initiative in progress includes a chatbot allowing brands to search a database of authorized product claims. {Vogue Business/paywalled}
Hermès sales are up 17% for Q1
Hermès reported its sales were up by 17% in the first quarter of 2024. With growth in China showing demand for high-end luxury, this jump in sales beat expectations and outpaced LVMH. The brand's sales rose to €3.81 billion ($4.08 billion) for the three months to March 31. {Reuters}
Kering Beauté appoints new president and CEO for Americas
Kering Beauté appointed Alexandre Choueiri as President and CEO for the Americas. Choueiri has nearly two decades of experience with L'Oréal and has worked as Kering-owned fragrance house Creed's president since last October. He held the position of global brand president of Ralph Lauren fragrances before he joined Kering. {Cosmetics Business}
Loewe releases "I Told Ya" "Challengers" merch
Loewe released exclusive "I Told Ya" T-shirts and sweatshirts, which are also featured in the "Challengers" film, for which Jonathan Anderson served as costume designer. Available in white and grey colorways, the shirts retail for $330 and the sweatshirts retail for $690. All pieces are available now on Loewe's website and in select Loewe stores. See the exclusive merch below. {Fashionista inbox}
"I Told Ya" Relaxed Fit T-shirt in Cotton, $330, available here (sizes XXS-XXL)
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Ewan McGregor's daughter fronts Celine Zouzou fragrance campaign
Zouzou is the newest fragrance joining the Celine haute parfumerie collection, which consists of 11 other perfumes conceived by Hedi Slimane. Esther-Rose McGregor stars in Zouzou's campaign, and the fragrance will launch in June 2024. With notes of benzoin, tonka bean, patchouli, labdanum, vanilla and musk, the fragrance's inspiration comes from "capturing an ideal of eternal youth," Slimane said in a press release. See the fragrance's campaign images photographed by Slimane below. {Fashionista inbox}
Esther-Rose McGregor for Celine Zouzou campaign. Photo: Hedi Slimane/Courtesy of Celine
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