Wal-Mart's experimental Store No. 8 has landed a major player in the world of e-commerce.Jennifer Fleiss, cofounder of Rent the Runway, is joining Store No. 8 to lead its first portfolio brand, Code Eight, as cofounder and chief executive officer, Wal-Mart said on Monday.Fleiss exited Rent the Runway, which in 2009 she started with Jennifer Hyman after graduating from business school. She will remain on the company's board of directors. Rent the Runway reportedly turned a profit last year when it exceeded $100 million in revenues and is said to be moving toward an initial public offering.Marc Lore, president and ceo of Wal-Mart global commerce, revealed the Store No. 8 concept at Shoptalk in March.He described Store No. 8 as an innovation hub intended to "be the force driving commerce at a time when emerging technologies are influencing all aspects of consumers' lives." Code Eight will develop one-on-one personalized shopping experiences, as the first portfolio company to be launched by Store No. 8, which has been charged with identifying technology start-ups and giving them room to grow. With Code Eight, Store No. 8 is taking the first step toward creating an innovation ecosystem where, according to the company, "new ideas can thrive outside the constraints of short-term process and profitability." It will incubate, invest in and partner with early-stage start-ups, venture capitalists and academics to innovate in areas such as virtual and augmented reality, robotics, machine learning and articulate intelligence."Jenny is a trailblazer in her field and has spent her career advancing ideas that have shaped retail as we know it," Wal-Mart said, adding that Fleiss helped Rent the Runway expand into a globally recognized brand and pioneered a new business model."Our team has a powerful vision for what retail can look like today and what it will be in the future," said Store No. 8 principals Seth Beal and Katie Finnegan. "By empowering top-level talent to lead teams and work with autonomy, were able to attract industry innovators like Jenny."Wal-Mart has a road map that will help guide the innovations it brings to market to scale over the next 18 months. Store No. 8, however, has a much longer outlook, the company has said.Since its August acquisition of Jet.com, which was founded by Lore, Wal-Mart has been amassing a portfolio of e-commerce sites, including Shoebuy, Moosejaw and Modcloth, and the retailer is said to be in advanced negotiations to buy Bonobos."With the support of Wal-Mart, Store No. 8 will play a role in the continued evolution of e-commerce," the retail giant said.
Leading luxury brand are shaking things up to keep up with streetwear. Case in point: the arrival of @mrkimjones as artistic director of @diorhomme. Jones, who succeeds @Kris_Van_Assche, is seen as one of the handful of designers who can actually straddle the luxury and streetwear worlds — which could lead to even more changes at established brands. What could this mean for the rest of the menswear landscape? Head to WWD.com to find out what experts predict #wwdfashion (📷: @franckmura)
“It’s like buying groceries. You’re going to buy the best mango, the best mozzarella, the best things. You have to, or others are going to take it all,” said @gabrielahearst on why she uses only the finest fabrics. Last week, Hearst received her first @cfda nomination for Womenswear Designer of the Year, and earlier this month she opened a permanent showroom in Paris. To read @jessiredale’s interview with the designer and find out why this is shaping up to be a big year for her, head to WWD.com. #wwdfashion (📷: @francoisgoize)
“It’s an interesting thing, playing a younger version of your mother. It’s an interesting concept. I adore my mom and love her in every capacity, but it was just something that had never crossed my mind,” says @anniemstarke on playing a young Joan Castleman in “The Wife.” The same role will be played by her mother Glenn Close. Read more about her growing up in the film industry as the daughter of producer John H. Starke and Close and what she has planned for the future #wwdeye (📷: @nataliamantini)
@asics is launching a new streetwear sneaker inspired by its latest ambassador, @steveaoki. The Hyper-Kenzen x Aoki, which will launch at @footlocker stores exclusively tomorrow, is a slip-on style that incorporates the brand’s proprietary Gel technology through beads integrated into the midsole for comfort and endurance. Read the full story on WWD.com.
@beyonce chose a custom gown by @falgunishanepeacockindia for mother @mstinalawson 's second annual Wearable Art Gala last night. The gown, which took 10 days to make, was inspired by Nubian warrior queen Amanishakheto. Reporting by @hernameislex . #wwdeye 👑 🐝#beyonce
After dressing @justintimberlake for his Super Bowl halftime performance last month, @stellamccartney has designed the star’s "Man of the Woods" tour wardrobe. Timberlake will be wearing a mix of pieces from McCartney’s fall men's collection as well as custom designs and items from his own closet. #wwdfashion