These are the stories making headlines in fashion on Thursday.
How much fashion’s highest-paid CEOs make
Morris Goldfarb of G-III Apparel Group, which owns DKNY, Donna Karan and Karl Lagerfeld, tops the list of highest-paid fashion CEOs in the United States. He made over $31 million last year. Goldfarb is followed by Doug McMillon of Walmart Inc. and Ernie Herrman of TJX Cos. Inc. Highest earning women include Fran Horowitz of Abercrombie & Fitch Co. (about $15 million) and Barbara Rentler of Ross Stores, Inc. (about $18 million). These CEOs typically make more than two-thirds of their pay in stock and option awards, tying their earnings to the performance of their companies directly. {WWD/paywalled}
Golden Goose postpones IPO
The IPO, originally slated for Friday, has been delayed due to “volatility” in the European market despite rising sales. Golden Goose credited the volatility to European Parliament elections that took place earlier this month and upcoming general elections in France. A market source indicated to WWD that the delay could last into 2025, but Golden Goose has yet to make a statement about a new date. {WWD/paywalled}
Lindsay Hubbard and her 3 unused gowns
Photo: Courtesy of Kleinfeld
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Lindsay Hubbard is selling her unused wedding gowns with Kleinfeld
“Summer House” star Lindsay Hubbard has partnered with new Kleinfeld service Kleinfeld Again to sell her three unused wedding gowns. “They are truly such beautiful gowns, and although my situation changed, the dresses deserve a second home for someone special,” Hubbard said in a statement. Kleinfeld Again is a bridal consignment site where people can buy and sell “pre-loved,” accessibly priced gowns. Hubbard’s gowns are priced between $6,000 and $10,000 and available to shop Thursday on kleinfeldagain.com. Proceeds will be donated to The Chick Mission, a non-profit that assists cancer patients with the challenges they face after treatment. {Fashionista inbox}
Augustinus Bader expected to reach $130 million in 2024 sales
The luxury skin-care brand, founded in 2018, is on track to see 40% sales growth this year. Augustinus Bader‘s most popular item is The Rich Cream, which retails for $300 and accounts for approximately 60% of all company sales. The founders are reportedly in no rush to sell, but believe that a sale could be beneficial to further accelerate growth in the future. {Bloomberg/paywalled}
A new AI-based shopping platform raised $50 million
Daydream, the new generative AI shopping platform by online retail veteran Julie Bornstein, raised $50 million in seed funding led by Forerunner Ventures and Index Ventures. Bornstein also recruited former leaders from Google, Microsoft, Amazon, Nordstrom and Farfetch for her team. A beta version of Daydream is set to launch this fall. It will not carry its own inventory, but will direct users to items from nearly 2,000 brands through commissionable links. Sign up for the waitlist on the Daydream website. {Fashionista inbox}
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