Must Read: Nicole Kidman Covers 'Elle', Balmain CEO Exits

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These are the stories making headlines in fashion on Tuesday.

Nicole Kidman covers Elle
Nicole Kidman is Elle's April 2024 Impact issue cover star. Photographed by Mario Sorrenti and styled by Nicola Formichetti, Kidman wears a Saint Laurent by Anthony Vaccarello belted jumpsuit and gloves along with Cartier jewelry on one cover; and a Dolce & Gabbana jacket, scarf, tights and sandals with Cartier jewelry on the second cover. The cover story written by Tyler McCall dives into Kidman's viral AMC campaign, season three of "Big Little Lies" and the importance of the actor's community. The April 2024 issue will be on newsstands April 2. {Elle}

Balmain CEO exits
Balmain's CEO Jean-Jacques Guevel is exiting the role "to pursue other interests" after four years with the brand. Guevel led Balmain through the pandemic's luxury surge and its Estée Lauder licensing deal, which will launch a revamped fragrance offering later this year. "We will be building onto the significant growth of the last years and will announce a new CEO in due course," Mayhoola CEO and Balmain Chairman Rachid Mohamed Rachid said in a statement. {Business of Fashion/paywalled}

L Catterton launches Elevate Beauty fund for early-stage businesses
Private equity firm L Catterton launched Elevate Beauty, a fund dedicated to investing in and partnering with early-stage beauty businesses. Cori Aleardi, previously president of StriVectin, will lead Elevate Beauty. Compared to L Catterton's own growth fund, which is investing anywhere from $15 million to $125 million per deal, Aleardi told WWD that Elevate Beauty will make smaller investments — from around $2 million to $15 million. {WWD/paywalled}

Warby Parker collaborates with Theophilio
Warby Parker and Theophilio launched their limited-edition Shaunie sunglasses on Tuesday. The style features five colorways, including an exclusive Soursop colorway available at blackfashionfair.org. "These sunglasses are like a memoir for me," Theophilio's Creative Director Edvin Thompson said in a press release. "I see my adolescence and my parents in them, but I also see the shape of things still to come. This collaboration is all about where I'm coming from as a designer and where I'm going next." Priced from $145, the sunglasses are available for purchase now on warbyparker.com, shop.blackfashionfair.org and select Warby Parker stores. See campaign imagery below. {Fashionista inbox}

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