THE CHEAT SHEET

NYFW Rolls Out the Welcome Mat for International Editors

Tom Ford | Source: Getty Images

• Tom Ford has made boosting New York Fashion Week's global profile a priority since assuming the role of CFDA chairman earlier this year 
• The CFDA shortened the NYFW schedule to five days and partnered with brands to provide flights, hotels and cars for international editors
• International attention is key for New York to compete with Paris, which has attracted some prominent American designers in recent years 

The Bottom Line: Looming over the proceedings is the CFDA's ties to Stephen Ross, the real estate developer whose fundraiser for President Donald Trump sparked outrage in the fashion community. Though no fashion week events appear to be taking place at The Shed in Ross' Hudson Yards development, the developer's wife, Kara Ross, remains on the CFDA board.

Trade Talks Resume as Tariffs Kick In

Chinese-made shoes will be subject to a 15 percent tariff starting Sept. 1 | Source: e-boost consulting

• US Customs will begin collecting 15 percent tariffs on Chinese-made footwear, smartwatches and other goods on Sept. 1
• Duties on handbags, luggage and other goods are set to rise from 25 percent to 30 percent on Oct. 1; most other apparel and accessories will be subject to tariffs starting Dec. 15
• Companies are predicting multi-million-dollar hits to profits as more of their goods are subject to tariffs

The Bottom Line: The great unknown is whether the disruption caused by tariffs will be the deciding factor in tilting the US economy into recession.

Who Wants to Buy Revlon?

Revlon's flesh makeup line | Source: Courtesy

• Revlon will formally kick off its search for a buyer after Labor Day, according to Bloomberg
• Sales fell 6 percent in the second quarter to $570.2 million; the company faces competition from influencer brands and other start-ups
• High debt levels and regular losses have hampered the company's ability to modernise its brands and market its product

After trying and failing to boost Revlon's sales for nearly two decades, the company's majority investor, Ronald Perelman's MacAndrews & Forbes, may be throwing in the towel. Revlon has A-plus name recognition, but its products haven't kept up with modern makeup trends, particularly the latest crop of Instagram brands. And though Revlon's sales are still far bigger than its upstart competition, they pale in comparison to rival cosmetics giant Estée Lauder. The company has survived by borrowing, including a $200 million loan earlier this month, which put a ticking clock on its endless turnaround efforts. Revlon has reportedly hired Goldman Sachs to explore strategic alternatives, including the sale of some or all of its brands.

The Bottom Line: Some of Revlon's brands could hold appeal for the right buyer, including Elizabeth Arden, which is seeing growth in Asia, and Flesh, a year-old brand aimed at younger customers that has struggled to gain traction but could find new life under a less-distressed owner.

COMMENT OF THE WEEK

Urban Outfitters is one of many retailers to launch a clothing rental service. | Source: courtesy

BoF readers were split on the question of whether they would join the clothing rental boom:

"No. I want to invest in pieces for me, and come up with my own looks. I’m not ashamed to be “caught” wearing the same thing twice. If I love a piece, I want to wear it again and again" @smizzen

"Absolutely. Aside from being more sustainable it allows me to constantly refresh my wardrobe with fun pieces while still investing in statement pieces to keep for the long run." @taytrgovac

SUNDAY READING

Professional Exclusives You May Have Missed: 

• Why start-ups keep trying to invent the closet from Clueless.
• A cloudy picture at Farfetch.
• DTC brands are battling counterfeiters.
• Everyone is launching rental services. Is there enough demand?
• The business of uniforms is suddenly fashionable.

The Week Ahead wants to hear from you! Send tips, suggestions, complaints and compliments to brian.baskin@businessoffashion.com. 

Was this BoF Professional email forwarded to you? Join BoF Professional to get access to the exclusive insight and analysis that keeps you ahead of the competition. Subscribe to BoF Professional here.