These are the stories making headlines in fashion on Monday.
Target’s Fashion Revival Strategy
Target has been doubling down on brand collaborations as part of its revival strategy. The retailer is struggling with slow sales growth following a revenue decline last year and ongoing fallout from its retreat from DEI initiatives. Isaac Mizrahi is rumored to be Target’s next designer collaboration, which could help attract the retailer’s core customer — middle-class women who shop for chic, yet affordable, fashion. {Puck/paywalled}
Bridgepoint Group to Acquire Obagi Medical
Waldencast, Milk Makeup‘s parent company, has sold clinical skin-care label Obagi Medical to U.K. investment firm Bridgepoint for $460 million. The move allows Waldencast to have a sharper focus on Milk Makeup — its now sole asset — and for Bridgepoint to gain a stronger presence in the physician-led skin-care and aesthetics space. {Waldencast}
Friends of the CFDA Names New Chair
Friends of the CFDA — an invite-only charter founded by Thom Browne that includes members passionate about fashion and philanthropy — has named filmmaker Allison Sarofim as its new chair. She succeeds theater producer Jordan Roth. “I look forward to building upon its remarkable foundation while exploring new ways to grow our community across the country, cultivate enduring networks of support and help shape a more dynamic and inclusive future for American fashion,” Sarofim said in a press statement. {CFDA}
‘The Cutting Room Floor’ Inks Multi-Year Deal With Patreon
Recho Omondi’s fashion podcast, “The Cutting Room Floor,” has landed a multi-year partnership with Patreon, enabling the podcast to grow its operations through new content formats, community events, expanded editorial slate and collaborations with creators. The partnership positions Omondi to turn her platform into a larger independent media company. “This partnership is ultimately about delivering more for [our audience]. More formats, more voices, more insights,” Omondi said in a statement. {Fashionista inbox}
Why Magazines Are Hiring Influencers
Both legacy and digital titles are hiring influencers for editorial teams — in addition to training longtime staffers to grow their online presence — to stay relevant. In today’s landscape, click-based media is no longer the most important metric; now, subscriptions, affiliate marketing and social media search are the largest revenue drivers. The ability to sell products via digital channels without compromising journalistic integrity is a crucial skill that outlets are hiring for and that content creators possess. {Business of Fashion/paywalled}
