Gold Armor for Lil Nas X, All Black for Kim Kardashian at Met Gala

Billie Eilish at the Met Gala. (AP)
Billie Eilish at the Met Gala. (AP)
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Gold Armor for Lil Nas X, All Black for Kim Kardashian at Met Gala

Billie Eilish at the Met Gala. (AP)
Billie Eilish at the Met Gala. (AP)

Red, silver and blue ruled the Metropolitan Museum of Art steps at a youth-driven Met Gala on Monday in a celebration of the best of American fashion.

There were show-stopping outfits from rapper Lil Nas X, wearing a Versace suit of gold armor and supermodel Iman in a stunning feathered gold and beige headdress and cage skirt as actors, singers, sports stars and social media influencers embraced the theme of “American Independence.”

Kim Kardashian, wearing Balenciaga, turned heads by dressing entirely in black, with even her face covered in thick black fabric. Her companion, a man wearing a blackout hoodie, was initially thought to be her estranged husband Kanye West, but Vogue.com said later it was Balenciaga designer Demna Gvasalia.

Chaired by four of the biggest Gen Z stars - actor Timothee Chalamet, singer Billie Eilish, poet Amanda Gorman and tennis champion Naomi Osaka - the so-called Oscars of the East Coast annual fundraiser was intended to highlight young designers and celebrities.

“Dune” star Chalamet sported a white silk suit with black lapels, teamed with white high-top sneakers, while Eilish, 19, shed her trademark baggy clothes for a plunging Oscar de la Renta peach gown she said was inspired by Marilyn Monroe.

The invitation-only gala is a fundraising benefit for New York’s Metropolitan Museum of Art and also marks the opening of the Costume Institute’s annual fashion exhibition which this year is titled “In America: A Lexicon of Fashion”.

Some guests took the theme more seriously than others. Jennifer Lopez sported a Western black hat over a plunging bronze gown and fur jacket, singer Leon Bridges had a white cowboy hat and fringed suede jacket, Kim Petras wore the model of a horse’s head on her bust, “Blondie” singer Debbie Harry picked a gown inspired by the US flag, and “Dear Evan Hansen” star Ben Platt chose denim flares and 1970s platform shoes.

Gorman wore a blue Vera Wang gown and crystal laurel headpiece she said was intended to make her look like a reimagined Statue of Liberty, while red was the choice of multiple celebrities, including model Karlie Kloss, actress Jennifer Hudson and Colombian singer Maluma.

Amid the glamour, some guests highlighted social issues.

Alexandria Ocasio-Cortez, the 31 year-old Democratic Congresswoman from New York, had “Tax the Rich” written in red across the back of her white gown.

“It’s time we bring all classes into the conversation about having a fairer country,” Ocasio-Cortez said about the slogan.

Like Ocasio-Cortez, many of the celebrities were first-timers at the Met Gala, including YouTuber Emma Chamberlain, Tik Tok star Addison Rae, musician Chance the Rapper, singer Olivia Rodrigo and “Game of Thrones” actress Maisie Williams.

Last year’s Met Gala was canceled because of the coronavirus pandemic, and Monday’s gathering was about a third smaller than usual with about 300 guests, with proof of vaccination required, though they did not wear masks while posing upon their arrival.

Grimes, the musician girlfriend of Tesla entrepreneur Elon Musk, was among the exceptions. She sported a metallic face mask and carried a sword.



Analysts: Shein's Planned Hong Kong Listing to Benefit from Wider Capital Pool

FILE PHOTO: A company logo for fashion brand Shein is seen on a rail of clothing on its Christmas bus as part of a nationwide promotional tour in Liverpool, Britain, December 14, 2024. REUTERS/Phil Noble/File Photo
FILE PHOTO: A company logo for fashion brand Shein is seen on a rail of clothing on its Christmas bus as part of a nationwide promotional tour in Liverpool, Britain, December 14, 2024. REUTERS/Phil Noble/File Photo
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Analysts: Shein's Planned Hong Kong Listing to Benefit from Wider Capital Pool

FILE PHOTO: A company logo for fashion brand Shein is seen on a rail of clothing on its Christmas bus as part of a nationwide promotional tour in Liverpool, Britain, December 14, 2024. REUTERS/Phil Noble/File Photo
FILE PHOTO: A company logo for fashion brand Shein is seen on a rail of clothing on its Christmas bus as part of a nationwide promotional tour in Liverpool, Britain, December 14, 2024. REUTERS/Phil Noble/File Photo

Shein's planned listing in Hong Kong will help the online fast-fashion retailer avoid sharp investor scrutiny of its supply chains while tapping into capital from the mainland and emerging market investors, analysts said.

The Singapore-headquartered company has turned its public market debut ambitions to Hong Kong after failing to win Chinese securities regulatory approval to proceed with a London initial public offering, Reuters reported last month, citing sources.

While a listing, if successful, would be a big boost for Hong Kong, the move would cast a cloud over the company's efforts in recent years to gain legitimacy as a global, rather than a Chinese company. Shein, which sells products including $5 bike shorts and $18 sundresses, has faced political and environmental group pressure in the UK over its cotton sourcing and supply chain practices.

It has also faced allegations that its clothes contain cotton from China's Xinjiang region, where the US and NGOs have accused the Chinese government of human rights abuses and forced labor. Beijing denies any abuses.

The company, which moved its headquarters from China to Singapore in 2022, has previously said it has a zero-tolerance policy for forced labor and requires its contract manufacturers to only source cotton from approved regions.

"If it is the only option now open to them, the Hong Kong market does make sense as a place where you could list a global business with a mainland supply chain," said Eliot Fisk, a Hong Kong capital markets consultant and former JPMorgan banker.

Shein did not respond to a Reuters request for comment. Before its attempt to list in London, Shein had pursued a listing in New York. The China-founded company had also faced regulatory hurdles and pushback from US lawmakers in its attempt to list in the United States.

"Listing in Hong Kong would also likely dodge the protests and political pushback it might face in the UK," said Craig Coben, former Bank of America co-head of capital markets in Hong Kong.

While it is not known whether Shein plans to seek any waivers for a potential Hong Kong listing, several waivers, including disclosure-related waivers, can be sought by large IPO hopefuls in the Asian financial hub, according to capital market lawyers.

A Hong Kong listing would also allow Shein to eventually be added to the city's Stock Connect scheme which gives easier access for mainland and Hong Kong-based investors to buy shares on each country's respective markets more easily.

Shein would easily meet the market capitalization and other criteria for inclusion in the connect scheme and for attracting mainland investment, said Hong Kong-based advisory firm Emmer Capital Partners CEO Manishi Raychaudhuri.

There was a 255% year-on-year increase in average daily turnover in the first three months of the year in Southbound trading, mainland investors buying and selling Hong Kong stocks, the Hong Kong Exchange said in its first quarter results.

"Hong Kong would have a dominant presence of Asia and emerging market-focused investors. London on the other hand, would have a significant presence of global and developed market investors," Raychaudhuri said.

"The supply chain issues would have been a more important consideration for the latter set of investors."