Must Read: Estée Lauder Finalizes $1.7 billion Deciem Acquisition, What Luxury E-commerce 'Survivors' Are Doing Right

Photo: Smith Collection/Gado/Getty Images

These are the stories making headlines in fashion on Monday.

Esteé Lauder finalizes its $1.7 billion acquisition of Deciem
Following a seven-year expansion since its initial investment in Deciem (parent company of The Ordinary and Niod), Estée Lauder has finalized its acquisition of the company. The Ordinary is one of five Lauder brands that has driven organic sales growth in recent quarters following its expansion into India, the Middle East and South Africa. Lauder President and CEO Fabrizio Freda said in a statement that the company is "incredibly proud" of Deciem's accomplishments, innovation and engagement in Gen-Z and Millennial markets. {WWD/paywalled}

What luxury e-commerce "survivors" are doing right
For Business of Fashion, Marc Bain and Joan Kennedy investigated the turbulent nature of luxury e-commerce. While Farfetch and Net-a-Porter struggle, they found that Ssense, Mytheresa and Moda Operandi are honing in on specific customers to stay afloat, maximizing their hold on Gen Z, top spenders and runway watchers, respectively. The brands have found success by curating their collections and streamlining customer service to fit the needs of their target audiences. These methods may lead to growth despite grim outlooks for the luxury market in 2024. It is expected to grow by 1-4% this year following growth of 8% in 2023. {Business of Fashion/paywalled}

Shein reportedly gearing up for London IPO
Shein is planning to file a confidential draft prospectus in hopes of going public on the London Stock Exchange, Bloomberg reports. The IPO could bring the company's value to £50 billion. Shein executives reportedly met with Jonathan Reynolds, the UK's shadow business secretary, on multiple occasions to discuss potential effects of the country's upcoming July 4 election on the listing. UK politicians have expressed concern about the company's compliance with local labor regulations, to which it would be subject following the IPO. Dinesh Nair, Swetha Gopinath, and Ailbhe Rea discussed the offering with sources close to the matter.  {Bloomberg/paywalled}

Sephora enters outlet centers
Sephora will open five new locations in Tanger outlet shopping centers across the country later this year. Sephora will operate full-price locations in the centers despite Tanger's outlet model as a part of evolutionary efforts within the centers post-Covid. The arrangement mirrors that which Sephora had with JCPenny from 2006 to 2022. {Glossy}

Lupita Nyong'o for Glamour

Photo: Adrienne Raquel/Courtesy of Glamour

Lupita Nyong'o is Glamour's June cover star
Oscar-winning actress Lupita Nyong'o wears Priscavera on the cover, styled by Rachael Wang. In the accompanying story by Glamour's Ariana Yaptangco, she discussed her career, activism, and undergoing "cat therapy" before shooting her upcoming film "A Quiet Place: Day One." Nyong'o also opened up about her upbringing and how romance rumors "draw attention away" from her work. {Glamour}

Heron Preston and H&M launch designer mentorship program
H2 Exchange, a mentorship program by Heron Preston and H&M, is a 13-day program including a residence at 55 Chrystie Street in Downtown Manhattan for three New York-based designers: Devante Hicks, Treshara Franklin and June Chen. They will work with the brands to create upcycled collections crafted from donated clothing. In addition to public workshops and tutorials throughout the initiative, their final designs will be presented in a showcase on June 13. Find more details here. {Fashionista inbox}

Want the latest fashion industry news first? Sign up for our daily newsletter.