These are the stories making headlines in fashion on Friday.
Photo: Courtesy of Guess
Authentic Brands Group acquires GuessOn Friday morning, Authentic Brands Group (ABG) announced it successfully acquired 51% of Guess and its intellectual property, taking the 45-year-old company private. The deal makes Guess ABG’s second-largest brand in its overall portfolio, which includes Reebok, Herve Leger, Champion and more. Existing Guess shareholders Nicolai Marciano, Carlos Alberini and co-founders Maurice Marciano and Paul Marciano will retain the remaining 49% of the label’s intellectual property. {Fashionista inbox}Fashion executive Roopal Patel exits Saks GlobalRoopal Patel, senior vice president of the fashion office for Saks Global, has parted ways with the company. She worked at the retailer for over 10 years, and before that, held leadership roles at Neiman Marcus, Moda Operandi and Bergdorf Goodman. She has not named her next steps, nor has Saks Global named her successor. {WWD/paywalled}
Photo: Courtesy of Jacquemus
Jacquemus’ first brand ambassador is his grandmotherSimon Porte Jacquemus’ grandmother, Liline Jacquemus, is officially the brand’s first-ever ambassador. In an Instagram post, Jacquemus calls her the original icon. “Before Jacquemus existed, she was already my inspiration. Her strength, her elegance, her authenticity… she shaped the way I see women, and the way I imagine this Maison,” he wrote. {Fashionista inbox}Mally Beauty and CoverFx are shutting downNew York-based conglomerate AS Beauty is shutting down makeup brands Mally Beauty and CoverFx, effective immediately. Both labels took to Instagram to announce their closures, sharing similar sentiments: They thanked their communities throughout the journey, and explained how difficult it is to run a business in this challenging beauty landscape. Products are still available to shop on the brands’ respective websites until supplies last. {Instagram/@coverfx and @mallybeauty}Lululemon responds to “see-through” leggings complaintsLululemon’s infamous “Get Low” leggings are back in stock online after being temporarily halted last week due to complaints that they were see-through. In response to the backlash, the retailer has posted an online disclaimer advising shoppers to wear skin-toned, seamless underwear and to size up. The drama comes amid Lululemon’s ongoing struggle with low sales and slow growth. {Bloomberg/paywalled}
Photo: George Eyres/Courtesy of Dior
Taylor Russell is Dior’s newest ambassadorDior has named Taylor Russell as its newest ambassador. The announcement comes ahead of creative director Jonathan Anderson’s debut haute couture presentation. Russell joins Greta Lee, Josh O’Connor and Drew Starkey as a former Loewe ambassador to follow Anderson to Dior. {Fashionista inbox}Do you have an emerging brand you want to share with Fashionista readers? Jumpstart your business with our affordable digital offerings.
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