Must Read: Fashion Rental Aims For 2024 Profitability, 'The Wall Street Journal' Profiles Rick Owens

These are the stories making headlines in fashion on Tuesday.

Fashion rental aims for 2024 profitability
This year, Rent the Runway and Nuuly hope to show that rental fashion can be both "sustainable" and profitable. While consumers and luxury brands have been slow to embrace rental, this could be a make-or-break year for the business model as more consumers are rejecting fast fashion. Fifteen-year-old Rent the Runway is on track to reach profitability this year, according to CEO Jennifer Hyman. Five-year-old Nuuly, which is owned by Urban Outfitters, already (briefly) reached profitability last year. {Vogue Business/paywalled}

The Wall Street Journal profiles Rick Owens
In a new feature written by Jacob Gallagher and photographed by Luca Grottoli, cult fashion designer Rick Owens discussed his workout routine and maintaining his signature dark hair. The designer offered a glimpse into his everyday life, as well as how he enjoys seeing knockoffs of his designs out in public. "I appreciate the freaks," Owens told The Wall Street Journal. "I want to be somebody that says you can invent yourself, that you can release the freak within." {The Wall Street Journal/paywalled}

How beauty can navigate China's challenging market
Last year, Estée Lauder Companies, L'Oréal Group, Shiseido and Procter & Gamble reported year-over-year sales decreases in China. But some domestic labels and a few leading foreign brands grew despite the challenging market, meaning a potential 2024 beauty spending recovery is now on the horizon. Many Chinese labels have employed successful strategies to reach their target consumers, such as rolling out collaborations that connect with their audience and tapping into current skin-care trends. {Business of Fashion/paywalled}

Idris and Sabrina Elba front Calvin Klein Eternity campaign
Actor Idris Elba and his wife, model Sabrina Elba, are the newest faces of Calvin Klein's Eternity fragrance franchise. Photographed by Mert Alas, the couple stars in the launch campaign for Eternity Aromatic Essence for men and for women. Ranging in price from $34 to $149, Eternity Aromatic Essence for men and for women is available at Macy's. {Fashionista inbox}

Studs to open 10 more stores this year
On Friday, Studs opened a store spanning 1,457 square feet in New York's Rockefeller Center, marking its sixth and largest studio in the city. Studs currently has 23 locations and plans to open 10 more stores this year in San Diego, Los Angeles, Atlanta, Boston, New York and Washington, D.C. Studs offers "earscaping" services, and single piercings start at $35 plus the cost of jewelry. {Retail Dive}

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