PETA Protesters Disrupt H&M’s London Fashion Event
Three PETA protesters interrupted H&M’s London runway event on Thursday evening, protesting against the use of wool, following a series of demonstrations that affected COS’ New York show the week prior. Unlike the COS protest, security permitted the protesters to leave the runway without any physical altercation. The event proceeded to showcase H&M’s collaboration with Nick Knight and ShowStudio, which included AI-generated visuals that transformed live images of models into animated painted backgrounds. {WWD/paywalled}
Mbappé Joins On as It Enters Soccer Market
On is making its entry into the soccer realm, acquiring Kylian Mbappé from Nike and appointing former French soccer star Thierry Henry as its football director. This step signifies the Swiss sportswear brand’s venture into a new category as growth in its primary running sector decelerates and investors raise concerns about expansion within the space. “Our goal is to bring On’s ethos to the pitch, the pavement, and the runway – merging elite performance with the surrounding culture of the game,” stated Founder and Co-CEO David Allemann. {On; Business of Fashion/paywalled}
LVMH Finalizes Agreement to Acquire Hermès Heir’s Shares
In a court filing from June, LVMH refuted any attempts to acquire Hermès shares from heir Nicolas Puech; however, legal documents indicate the company entered into a 2002 agreement to buy Puech’s shares, according to Reuters. Records also reveal that LVMH and its chairman’s family holding company compensated Eric Freymond’s wealth management firm (the late financial adviser to Puech) with at least $20 million between 2001 and 2009. Puech asserts that his 6% stake in Hermès, currently valued at approximately $10 billion, disappeared without his awareness, and he is suing LVMH and Chairman Bernard Arnault, along with companies associated with Freymond, seeking €14 billion ($16 billion) in damages. {Reuters}
Half Magic Beauty Secures Series A Funding
Half Magic Beauty, the color cosmetics line founded by “Euphoria” makeup artist Donni Davy, has completed a Series A funding round led by Point King Capital, with participation from existing investors A24, Access Industries, and ACG. The financing will aid the brand’s retail growth with partners like Ulta, Sephora U.K., and Mecca, in addition to expanding into new product categories and hiring, while targeting further expansion in Australia, New Zealand, and Europe. {WWD/paywalled}
