Layoffs at Victoria’s Secret, Drew Elliott Leaves Paper for M.A.C.
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Layoffs at Victoria’s Secret (WWD)
Victoria’s Secret has laid off 15 percent of staff — about 50 people — from its lingerie division. “We’re on the all-important journey to turn around the Victoria’s Secret business,” a spokesperson told WWD. “Everything is on the table including having the right talent in the right places. Today we announced new leadership positions and organizational changes that help us simplify the business, which allows us to be more agile. We believe these efficiencies are crucial to the evolution of our brand.” Meanwhile, April Holt, VS’ EVP of stores and store operations for over 16 years, has stepped down. Her exit is said to be for personal reasons related to “personal family matters.”
Drew Elliott Exits Paper, Joins M.A.C. (Instagram)
Drew Elliott is stepping down from his role as editor-in-chief of Paper to join M.A.C. cosmetics as its new global creative director. Elliott confirmed the news on Instagram this morning. “This is a dream come true,” he wrote. “Growing up in Indiana, I could go to the M.A.C counters and see artists and images that spoke to me, made me feel I belonged, and ultimately made me fall in love with fashion.” Elliott also took a moment to reminisce about his time at Paper. “I will forever remain connected to my PAPER family. I am extremely excited about my new role and what’s to come. Stay tuned!”
James Murdoch Invests In Vice (New York Times)
James Murdoch, former CEO of 21st Century Fox, has bought a stake in Vice Media through his holding company, Lupa Systems. The investment is said to be “part of Vice’s recent acquisition of Refinery29.” Murdoch has had ties to the brand for some time now. He has been on the board of Vice since 2013, when Fox invested $70 million in the company.
Jim Moore to Chat About Fashion With Fern Mallis
Jim Moore is the latest fashion personality to join Fern Mallis in her Fashion Icons series. Moore will discuss his time at GQ — including working with the likes of President Barack Obama, Leonardo Di Caprio, and more — and his new book, Hunks & Heroes: Four Decades of Fashion at GQ. Tickets are available online now.