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Must Read: How Catbird Became Millennials' Favorite Jeweler, Yoox Net-a-Porter Causes Problems for Richemont

Rania Bolton

Plus, the company that helps influencers turn their posts into businesses.

Inside Catbird's headquarters. Photo: Courtesy of Catbird 

These are the stories making headlines in fashion on Monday. 

How Catbird became millennials' favorite jeweler
Started in 2004, Brooklyn-based jeweler Catbird has quickly become millennials' go-to for fine jewelry and jewelry retailing under $300. The direct-to-consumer company – founded by Rony Vardi – is now a multimillion-dollar business that caters to millennials who steer clear from tradition and rarely gravitate toward diamonds. The brand's best-selling item, a gold band priced at $44, has sold 20,000 pieces and can even be seen on Meghan Markle. {WWD}

Yoox Net-a-Porter causes problems for Richemont
In August, the Yoox Net-a-Porter group experienced a summer storm that destroyed its new logistics hub in Italy, damaging the warehouse so badly that operations were stalled for several weeks. This followed a costly and troubled logistics and technology overhaul at the group that began three years ago and cost hundreds of millions of euros. The technology overhaul has caused major losses for parent company Richemont, which has reported its weakest profit margin in more than a decade. {Business of Fashion}

The company turning influencers into businesses
Our Social Collective is the London-based company that helps influencers turn their posts into businesses. Similar to Los Angeles-based company Revolve, Our Social Collective acts as an incubator for influencer brands, creating business ideas and products they know their audience will want to buy. {The New York Times}

The Estée Lauder Companies to acquire Dr. Jart+
Today, The Estée Lauder Companies announced that it will acquire Have & Be Co. Ltd., the Korean company behind Dr. Jart+. Closing in December of 2019, the acquisition of Dr. Jart+ will help the company strengthen and expand its consumer reach in Asia/Pacific, North America and the United Kingdom. {Fashionista Inbox}

Sustainability and inclusivity are driving fashion searches
Lyst just released its annual "The Year in Fashion" report which highlights data trends most searched on the site throughout the year. Ranking at the top were inclusivity and sustainability, the two movements that drove the most searches in 2019. {Lyst}

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