Must Read: Timothée Chalamet Is Chanel's New Face, Vice Media Files for Bankruptcy

These are the stories making headlines in fashion on Monday.

Timothée Chalamet is the new face of Bleu de Chanel
Timothée Chalamet is the new face of Bleu de Chanel, the French maison's classic men's fragrance. This marks his first collaboration with Chanel and as an official ambassador of any fashion or beauty brand. The ad campaign images by Mario Sorrenti will be released in June, to be followed by the fall release of a Martin Scorsese-directed campaign film. {Fashionista inbox}

Vice Media files for bankruptcy
Media giant Vice officially filed for bankruptcy in what the New York Times called "a moment of humility" following the company's former promise. The bankruptcy filing reportedly won't affect Vice's daily operations, which span its namesake website, Refinery29, its ad agency and film division. A group of Vice's lenders, including Fortress Investment Group and Soros Fund Management, have submitted a $225 million bid to acquire it. The bid would already be covered by the group's existing loans. While Vice was considered to be worth $5.7 billion at one point, it is proving that no company can evade issues plaguing the media industry. {The New York Times}

The business of dressing Beyoncé and other major pop stars
When Beyoncé opened her "Renaissance" World Tour in Stockholm, the wardrobe was as impressive as the musical performance, featuring custom looks from Mugler, Alexander McQueen, Loewe and more. Dressing a mega pop star gives brands a major opportunity for exposure, but the creation of concert costumes is much more complex than that of red-carpet looks. "She's dancing and performing so she has to wear specific underwear, tights, bras," Coperni co-founder Arnaud Vaillant told Tiffany Ap of Business of Fashion. "You have to have precise zippers so that it's easy to take it down and take it off. There's so many people, it's not just one stylist... It's a big, big process." Still, few would turn down what's seen as a career-changing opportunity, but an effective strategy is required for the costume to be a success. {Business of Fashion}

Valentino announces Spring 2024 menswear show
Breaking from its typical co-ed staging, Valentino is hosting a Spring 2024 menswear show in Milan on June 16, during Milan Men's Fashion Week. (Milan was also home to the house's first-ever menswear show in January 1985.) Taking place at the Università degli Studi di Milano Statale, the show will be accessible to students as well. The decision represents menswear's growing importance to the house from a business perspective as Creative Director Pierpaolo Piccioli seeks to push men's fashion into a more contemporary direction. {Fashionista inbox}

Saks welcomes the third class of its designer accelerator program
The New Wave at Saks, Saks Fifth Avenue's accelerator program for independent designers, just welcomed its third class since launching in 2021: Armando Cabral, Áwet, Bernard James, Elisamama, Interior, June 79, Renowned and Sorellina. The program was created to support emerging designers with high retail potential, with an intentional focus on BIPOC brands. Each brand from this year's cohort will begin six-month long programming and receive a $10,000 grant. {Fashionista inbox}

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