The New York Times has reported on alleged sexual exploitation by two of the biggest photographers in the fashion business. Publishing giant Condé Nast said it would stop working with both Mario Testino and Bruce Weber.
Fifteen current and former male models and thirteen male assistants and models have accused top fashion photographers Mario Testino and Bruce Weber, of coercive sexual behavior. The investigation has been in the works since the last couple of months.
Though representatives of both the accused have denied all allegations, publishing giant Condé Nast have announced, it will stop working with them. So far spokespersons for Michael Kors Holding ltd and Stuart Weitzman, have also said that they will not be working with MarioTestino in the foreseeable future.
In mid December, TSG Consumer Partners (“TSG”), a leading private equity firm focused exclusively on the branded consumer sector, and Huda Beauty, one of the world's fastest-growing beauty brands, announced that TSG has acquired a stake in Huda Beauty. Ofcourse, the financial terms of the transaction were not disclosed. TSG see Huda Beauty's industry leading digital reach, their amazing global influence and ofcourse best-in-class product offerings as a grounds for joining forces and help lead the brand into the future.
Nike Inc.’s Converse brand lost its chief marketing officer to streetwear label Supreme, Business of Fashion reports.
Julien Cahn resigned from Converse earlier this year and left the company in February for a marketing role at the up-and-coming brand. Cahn joined Converse in 2016 from parent Nike. Several executives have recently left Nike in the wake of an internal probe into misconduct, though Cahn’s departure wasn’t related, people said. Nike began an internal review of misconduct last month, after complaints from employees. A handful of executives have exited, including Trevor Edwards, who was one of the favorites to succeed Chief Executive Officer Mark Parker.
Last week, an analyst’s report said nine Nike employees at director level or higher, including Cahn, had left the company in the past 35 days amid “recent cultural turmoil.” Nike executives go from director to senior director and then vice president. The departures are seen adding additional “downside risk” to Nike’s long-term growth trajectory, Sam Poser of Susquehanna Financial Group wrote in a note to clients.