The fast fashion retailer reportedly raised funding this week at a lower valuation. But the e-commerce giant remains immensely popular — and may have some more tricks up its sleeves.

The latest funding round for the Chinese fast fashion behemoth values the company at $66 billion.

Increasingly expensive luxury handbags have made room for the contemporary market to grow. Brands that go into the category with a tight assortment and a strong aesthetic are best positioned for success.

The New York-based designer will oversee Helmut Lang’s men’s and women’s collections, effective May 15. His debut collection, spring 2024, will be presented during New York Fashion Week later this year.

Lessons From LA’s Hottest Retail Destinations

American boutique chain Francesca’s has acquired Richer Poorer, a 13-year-old basics and loungewear brand, the companies told BoF Monday.

The contemporary label is on track to hit nearly $300 million in sales this year. Up next are stores and new wholesale accounts in Asia, Europe and the Middle East.

It is unclear whether the publication will remain in operation in the near term, sources say.