These are the stories making headlines in fashion on Wednesday.
Roger Lynch Steps Down as Condé Nast CEO
Condé Nast CEO Roger Lynch is leaving after more than seven years to become CEO of Mattel, announcing the move in a statement Wednesday. “When I joined Condé Nast, I had the simple ambition to leave this extraordinary place stronger than I found it,” he wrote, noting that since 2020 commerce revenue grew 170%, digital subscriptions grew 155% and U.S. tentpole events increased ninefold. Lead Independent Director Mike Perlis will serve as interim CEO while a search for a permanent successor begins. {Condé Nast}
Oura Delays IPO
Oura is putting its initial public offering (IPO) on Nasdaq on hold, citing uncertainty in the IPO market even as the smart ring maker says its business is continuing to grow. Oura’s paid memberships have reached 5.7 million users, and revenue is expected to grow 90% year-over-year in fiscal 2026. Oura and its early investors had planned to sell 50 million shares at $40 to $44 each, which would have raised about $2.1 billion at the midpoint and valued the company at roughly $15 billion. {Business Wire; WWD/paywalled}
Stride Consumer Partners Raises $550 Million for Second Fund
Stride Consumer Partners — the backer of Odele, Crown Affair and Skinfix — has wrapped its second fund at $550 million, a 30% jump over its 2022 debut fund. The raise took roughly four months and leaned heavily on returning limited partners boosting their commitments. The investment firm’s assets under management are now about $1.3 billion. {Beauty Independent/paywalled}
Ralph Lauren To Stage First PoloFest in Tokyo
Ralph Lauren will hold PoloFest, a three-day celebration of Polo culture, from Oct. 23 to 25 at Jing Harajuku in Tokyo’s Shibuya district. The free event will feature an archival exhibition, a speaker series and a vintage marketplace with dealers from around the world. It also kicks off a series of global activations leading up to the brand’s 60th anniversary in 2027. {WWD/paywalled}
