Fashion News of the Week You Need to Know

Each Thursday we share with you a round up of the best fashion news of the week you need to know. Whether you want to work at a fashion company, or launching your own brand, is important to stay updated on the industry.

Instagram announced a new feature on Tuesday, which will allow users to directly make purchases and checkout on the app itself. When users tap on a shoppable product on Instagram, they’ll view the product’s page with an option to “Checkout on Instagram.” Once you make your first buy — along with providing payment and shipping details — the information is (securely) stored within the app for future purchases. 

The new update is only available in the U.S. with a select group of more than 20 fashion and beauty brands and retailers on board, Michael Kors, Nike, Adidas,  Burberry, H&M, Zara, Revolve, Anastasia Beverly Hills, ColourPop, Huda Beauty, Nars, MAC Cosmetics, Ouai, KKW Beauty and Kylie Cosmetics.

After some rumors, the board voted and Tom Ford is the new chairman of The Council of Fashion Designers of America (CFDA) effective January 1, 2020. Ford is the 11th designer to hold the position, succeeding Diane von Furstenberg, who held it for 13 years. Tom Ford, who has been a member of the CFDA since 2000, has won a total of seven CFDA Fashion Awards: Menswear Designer of the Year (2015, 2008), Womenswear Designer of the Year (2001), Accessory Designer of the Year (2002), Board of Director’s Tribute (2004), International Designer of the Year (1995), and the Geoffrey Beene Lifetime Achievement Award (2014). 

On Monday, Gucci announced via press release Gucci Changemakers, a community fund and scholarship program, in addition to a Gucci employee volunteering program, that are meant to build on the diversity-centric design hires the brand announced in February.The Gucci Changemakers program is threefold. The first element is a fund of $5 million that will be invested in non-profits that benefit communities of color in North America, the second element is a scholarship program that will award $20,000 over the course of two years to eligible students pursuing fashion, with the goal to “empower more diverse talent in North America to access the industry.” The final element to Changemakers is a volunteer program that will allow Gucci’s 18,000 global employees to take up to four paid days off to participate in volunteer work that addresses equality, support for refugees and the homeless, protection of the environment and education.

A decrease in consumer spending in China has contributed to an unexpected drop in Prada’s annual profit. The company’s shares slumped as much as 7.2 percent in early Hong Kong trading on Monday and its operating profit fell 10 percent to €323.8 million, falling short of the €378 million predicted by analysts.

Paul Surridge has resigned, or is close to taking that step, leaving his role as creative director of Roberto Cavalli. The designer joined the brand as creative director in 2017 and his last collection is believed to be for fall 2019, shown in Milan last month. An announcement is expected to come as early as this week.