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LVMH pulls out of the US$16 billion deal with Tiffany & Co., Vetements calls out Balenciaga, and more

LVMH pulls out of the US$16 billion deal with Tiffany & Co., Vetements calls out Balenciaga, and more

Fashion by the 'gram

Text: Emily Heng


Image: Instagram | @tiffanyandco

Tiffany & Co. will not be joining the LVMH family.

LMVH — owner of labels in the vein of Christian Dior and Celine — confirmed that they were planning to acquire Tiffany & Co. for a whopping US$16 billion back in November. Unfortunately, the pandemic has altered their initial plans, leaving them no choice but to pull out of the deal in recent times. The French conglomerate later released a statement claiming they couldn't complete the deal as the French government had requested LMVH delay the procedure after they got wind of the fact that the U.S. is planning to impose tariffs on a variety of European goods.

Tiffany & Co. has responded with a lawsuit for breach of contract. LMVH then countered by announcing their plans to sue the brand in return, as "Tiffany did not follow an ordinary course of business, notably in distributing substantial dividends when the company was loss making and that the operation and organization of this company are not substantially intact." Yrow, drama.

 

Vetements has called out Balenciaga for plagiarism.

Except it's a lot more complicated than that. You see, Vetements was helmed by Demna Gvasalia in 2019 until he left to focus full-time on Balenciaga, where he's been creative director since 2015. It seems, then, that the Vetements team is displeased by how similar their "Hello my name is Capitalism" tee is to Balenciaga's recent "Hello my name is Denma" sweater. Seeing how Gvasalia was the one who designed the Vetements capitalism tee back in 2019, too, we're not sure how this poses as a problem. Unless the Vetements team is doing it for laughs? Their WTF caption proves cryptic enough.

 

Fendi names Kim Jones as the new artistic director of Fendi.

He will replace Karl Lagerfeld, and will be primarily responsible for designing Fendi's women's ready-to-wear, haute couture and fur collections. LMVH's chief executive has stepped forward to make an announcement regarding their decision, praising Jones for his ability to "adapt to the codes and heritage of the LVMH houses while revisiting them with great modernity and audacity."

 

Joe Biden teams up with notable fashion designers to drop his own merch.

They include including Tory Burch, Jason Wu, and Vera Wang amongst many others. Expect tie-dye tees, bucket hats, and even bandanas that double as face masks. All products are below US$60, and is titled the "Believe in Better" collection. Talk about a significant improvement from a MAGA hat, huh?

 

Marc Jacobs has started a new collection with Ava Nirui.

Called Heaven, it is said to be a series of clothes that are "a reflection of Marc Jacobs' obsession with pop culture heroes, creative weirdos, and a new generation of icons." Jacobs also took to Instagram to reveal the star-studded contributor list which includes photographer, Shoichi Aoki; filmmaker Gregg Araki; musician Vegyn, and more.

 

London Fashion Week is still happening.

It will run from 17 - 22 September, with a slew of brands opting for digital presentations. According to The New York Times, "there will be 50 digital-only activations, 21 physical and digital presentations, and 10 physical shows or events." Victoria Beckham and Molly Gollard, for instance, are one of the few doing salon presentations while Mark Fast will be going forward with a catwalk.

 

Adidas and Prada team up yet again to release more sneakers.

The Prada x Adidas Superstar is back — this time, in three new colourways: monochrome black, white with black, and chrome silver with white. "For a new decade, a new point of view," Prada aptly declares on Instagram. Indeed. Scoop up 'em now at all Prada boutiques worldwide and on each brand's respective e-commerce sites.

 

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