These are the stories making headlines in fashion on Monday.
Nanushka Closes All Its Physical Stores
Hungarian label Nanushka has closed all of its physical stores, paused wholesale production for upcoming collections and reduced staff from 150 to 20 due to a significant profit decrease and immense debt. Nanushka board member Peter Baldaszti told Business of Fashion that the brand had an overly ambitious expansion plan, which put heavy pressure on the company’s finances. The label took out millions in debt, but failed to pay it back. The brand is currently looking for new investors to help with refinancing and restructuring. {Business of Fashion/paywalled}
Style Capital Acquires No. 21
Private equity fund Style Capital has acquired Italian fashion brand No. 21. The financial terms of the deal have not been disclosed. No. 21’s founder, Alessandro Dell’Acqua, will remain at the label as creative director. Style Capital plans to push No. 21 in international markets. {WWD/paywalled}
Rent the Runway Expands Into Designer Handbags
Rent the Runway has added luxury handbags to its assortment. These selections will be available exclusively to Icon members, the company’s most loyal customers. Members can rent up to one designer handbag for 30 days at a time, with pricing varying by style. “Our members have been asking for a more elevated luxury offering, and we’re thrilled to bring this collection to our Icon members first,” Paige Thomas, CEO of Rent the Runway, said in a press statement. {Fashionista inbox}
Capri Reports Revenue Decline in Q2 2027
Capri Holdings reported a 5.5% revenue decline in its Q2 2027 results. However, the company’s shares jumped 16.3% to $18.68. Despite the revenue drop, the company is confident its profit will “return to growth in the second half of fiscal 2027, supported by exciting new collections, increased marketing investments and our focus on elevating the consumer experience,” said John D. Idol, chairman and CEO of Capri Holdings. {Capri Holdings}
Outdoor Voices To Expand Into Europe
Activewear label Outdoor Voices is partnering with brand development and distribution platform Focus Brands to enter wholesale and e-commerce in the United Kingdom and the European Union. The move continues Outdoor Voices’ global expansion strategy and comes shortly after the brand recently moved into Korea, China and Southeast Asia. {WWD/paywalled}
Estée Lauder Reports Sales Growth in Q1 2027
The Estée Lauder Companies Inc. (ELC) reported a 6% growth in net sales in Q1 2027. Fragrance was the most profitable category, with sales up 20%. “Growth is accelerating, profitability is strengthening significantly and the impact of Beauty Reimagined is becoming increasingly evident across our business,” Stéphane de La Faverie, president and CEO of The Estée Lauder Companies, said in a press statement. {Estée Lauder Companies}
Do you have an emerging brand you want to share with Fashionista readers? Jumpstart your business with our affordable digital offerings.