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These are the stories making headlines in fashion on Wednesday.
Kering and L’Oréal Finalize Acquisition
L’Oréal has completed its acquisition of Kering Beauté, with the transaction valued at €4 billion (approximately $4.6 billion), paid in cash. The finalized agreement also includes the 50-year exclusive licenses for Bottega Veneta and Balenciagafragrance and beauty products. {L’Oréal}
Fenty Beauty Partners With WhatsApp
Fenty Beauty has partnered with WhatsApp to launch an AI-powered beauty advisor. WhatsApp users can ask beauty questions, get product recommendations, read reviews and receive tutorials and content creator videos. “We’re excited to bring our community to WhatsApp, where our AI agent will amplify real fan voices to create something search engines can’t: discovery that feels like a text from a friend,” Nanette Wong, Fenty Beauty global vice president of marketing & communications, said in a press statement. {Fashionista inbox}
“Love Story” Series Drives Calvin Klein Sales
Calvin Klein has seen a spike in sales and online searches following the release of the series “Love Story: John F. Kennedy Jr. & Carolyn Bessette.” Shoppers are trying to replicate Bessette’s style. The brand is capitalizing on this by rolling out styles inspired by Bessette and the ‘90s more broadly in the coming quarters. {Bloomberg/paywalled}
Shopping’s Toll on Mental Health
Mental health advocates, regulators and everyday consumers are having more discussions around shopping addictions as overconsumption grows. Frictionless commerce setups like “buy now, pay later,” targeted ads on social media and alleged addictive designs by fast fashion giants are contributing to the problem. Self-diagnosed shopaholics are addressing the issue by unsubscribing from retailer emails and removing payment information from apps. Advocates also want the fashion industry to be held accountable for its harmful practices by implementing policies to crack down on consumer exploitation. {Business of Fashion/paywalled}
