Grab Your Fancy Duds for Met Gala Mania with Karl Lagerfeld

Vogue editor Anna Wintour attends The Metropolitan Museum of Art's Costume Institute benefit gala celebrating the opening of the "Camp: Notes on Fashion" exhibition on May 6, 2019, in New York. (AP)
Vogue editor Anna Wintour attends The Metropolitan Museum of Art's Costume Institute benefit gala celebrating the opening of the "Camp: Notes on Fashion" exhibition on May 6, 2019, in New York. (AP)
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Grab Your Fancy Duds for Met Gala Mania with Karl Lagerfeld

Vogue editor Anna Wintour attends The Metropolitan Museum of Art's Costume Institute benefit gala celebrating the opening of the "Camp: Notes on Fashion" exhibition on May 6, 2019, in New York. (AP)
Vogue editor Anna Wintour attends The Metropolitan Museum of Art's Costume Institute benefit gala celebrating the opening of the "Camp: Notes on Fashion" exhibition on May 6, 2019, in New York. (AP)

It's the first Monday in May: Welcome to Met Gala mania.

With a livestream available when the evening gets underway, the world's most fashionable fundraiser takes on one of the world's most prolific — and controversial — designers, the late Karl Lagerfeld, as the starry party's theme.

So how would the man of the hour, who died in 2019, feel about all the hullabaloo? Lagerfeld was a student of history, to be sure, but his eyes were forever on the future.

"Karl never wanted to have a retrospective when he was alive. He felt that it was funereal. He made the point that (Cristóbal) Balenciaga and (Coco) Chanel never had them when they were alive," said William Middleton, who wrote the biography "Paradise Now: The Extraordinary Life of Karl Lagerfeld."

So what about now?

"He believed very much in fashion history, so he’s a part of fashion history now. I don't think he would have had a problem with it," Middleton surmised.

Others aren't so sure.

Caroline Lebar worked with Lagerfeld for 35 years, rising to senior vice president of image and communications for his eponymous brand. Lagerfeld loved the Met, but he always said: "'I'm not an artist, I'm a fashion maker,'" Lebar said on the company's site.

"He didn’t think his work belonged in a museum. Anna Wintour also mentioned this when she made the announcement about the theme," Lebar explained.

The invitation-only gala earned $17.4 million last year for the Metropolitan Museum of Art's Costume Institute, a self-funding department with a budget dependent on the A-list affair. The price of attending went up this year to $300,000 for a table and $50,000 for a single ticket.

Companies and brands buy tables and host many of the roughly 400 guests expected this year from fashion, film, music, theater, sports, tech and social media. They were asked to dress "in honor of Karl" by gala mastermind Wintour, a close Lagerfeld friend who first signed on to the event in 1995 and took over the helm in 1999.

Fashion publicist Eleanor Lambert thought up the Met Gala back in 1948 as a fundraiser for the newly founded Costume Institute. It was a dinner held elsewhere. The idea is to celebrate the opening of the institute's big exhibition each year, this time called "Karl Lagerfeld: A Line of Beauty."

American fashion was last year's vibe. It followed gilded glamour and white tie. Camp was the theme in 2019, producing what is considered one of the wackiest displays of dress by the celebrity crowd.

Katy Perry wore a chandelier, then slipped into a hamburger outfit. Lady Gaga did a four-layer strip tease on the Met's Grand Staircase and Jared Leto carried a stage version of his own head.

Dressing to the Lagerfeld theme could be a breeze for guests with stylists able to source the best vintage pieces from the fashion houses where he worked: Chanel, Fendi, Chloé, Jean Patou, Balmain, his own brand and more.

This year’s five hosts include Wintour, as usual, along with Michaela Coel, longtime Chanel ambassador Penélope Cruz, recently retired tennis superstar Roger Federer and Dua Lipa.



Nike Shares Rise as Apple’s Cook Doubles His Bet on CEO Hill’s Overhaul Effort

A jogger wearing Nike shoes runs along the Charles River in Cambridge, Massachusetts, US, March 18, 2019. (Reuters)
A jogger wearing Nike shoes runs along the Charles River in Cambridge, Massachusetts, US, March 18, 2019. (Reuters)
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Nike Shares Rise as Apple’s Cook Doubles His Bet on CEO Hill’s Overhaul Effort

A jogger wearing Nike shoes runs along the Charles River in Cambridge, Massachusetts, US, March 18, 2019. (Reuters)
A jogger wearing Nike shoes runs along the Charles River in Cambridge, Massachusetts, US, March 18, 2019. (Reuters)

Nike shares rose 5% in early trading on Wednesday after Apple CEO Tim Cook doubled his personal stake in the sportswear maker, raising his bets on the margin-pinching turnaround efforts led by CEO Elliott Hill.

Cook, who has been on Nike's board since 2005, bought 50,000 shares at $58.97 ‌each, according to ‌a regulatory filing. As of December ‌22, ⁠he holds about ‌105,000 shares, which is now worth nearly $6 million.

It was the largest open market stock purchase for a Nike director or executive and possibly the largest in more than a decade, said Jonathan Komp, analyst at Baird Equity Research.

"(We see) Cook's move as a positive signal for the progress under CEO Elliott Hill and Nike's 'Win ⁠Now' actions," Komp said.

The purchase comes days after Nike reported weaker quarterly margins and weak ‌sales in China even as CEO ‍Hill tries to revive demand ‍through fresh marketing plans and innovation focused on running and sports, ‍while phasing out lagging lifestyle brands.

He has also attempted to mend Nike's ties with wholesalers such as Dicks Sporting Goods to increase visibility among shoppers amid stiff competition from newer brands.

However, the strategy has strained Nike's margins, which have been declining for over a year, while its efforts to win back its ⁠premier position in discount-friendly China appears to be faltering.

Nike's shares have slumped nearly 13% since it reported results on December 18 and are on track for the fourth straight year of declines. They were trading at $60.19 on Wednesday.

Cook has been a lead independent director of Nike since 2016 when co-founder Phil Knight stepped down as its chairman.

The Apple CEO "remains extremely close" with Knight, Komp said, adding that he has advised Nike through key strategic decisions including Hill's appointment last year.

Board director and former Intel CEO ‌Robert Swan also bought about 8,700 shares for about $500,000 this week.


Etro Founding Family Exits Group as New Investors Including Türkiye's RAMS Global Join

L Catterton, a private equity firm backed by French luxury giant LVMH, will remain Etro's majority owner. Reuters
L Catterton, a private equity firm backed by French luxury giant LVMH, will remain Etro's majority owner. Reuters
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Etro Founding Family Exits Group as New Investors Including Türkiye's RAMS Global Join

L Catterton, a private equity firm backed by French luxury giant LVMH, will remain Etro's majority owner. Reuters
L Catterton, a private equity firm backed by French luxury giant LVMH, will remain Etro's majority owner. Reuters

The founding family of Italian fashion house Etro has sold the minority stake it still owned in the brand to a group of investors including Turkish group RAMS Global, the company said on Friday.

L Catterton, a private equity firm backed by French luxury giant LVMH, will remain Etro's majority owner and "will continue to actively support the brand's long-term growth strategy," Etro added, according to Reuters.

The new investors comprise also Italian fashion group Swinger International and small private equity firm ⁠RSI.

In addition to buying the stake, they all subscribed to a capital increase that will lower L Catterton's holding in Etro to between 51% and 55% from around 65%.

When including both the acquisition and the capital increase, the deal is worth around 70 ⁠million euros ($82 million), two sources close to the matter said. Etro did not disclose financial details.

Chief Executive Fabrizio Cardinali will remain at the helm, while Faruk Bülbül, representing RAMS Global, will become chairman of the board.

L Catterton bought a 60% stake in the brand known for its paisley motif four years ago, and it slightly increased the holding over the years.

The company, founded by Gimmo Etro in 1968, has ⁠been struggling with its turnaround. Last year it posted a net loss of 23 million euros with net revenues declining to 245 million euros from 261 million euros, according to filings with the local chambers of commerce reviewed by Reuters.

Rothschild advised L Catterton and the Etro family on the deal.

Rothschild had been hired in 2024 to look for a new investor who could buy all or part of the Etro fashion group, sources had previously told Reuters.


Paris Court Rejects Bid to Suspend Shein Platform in France

A customer holds shopping bags with a Shein logo in the first physical space of Chinese online fast-fashion retailer Shein on the day of its opening inside the Le BHV Marais department store, the Bazar de l'Hotel de Ville, in Paris, France, November 5, 2025. REUTERS/Sarah Meyssonnier/File Photo
A customer holds shopping bags with a Shein logo in the first physical space of Chinese online fast-fashion retailer Shein on the day of its opening inside the Le BHV Marais department store, the Bazar de l'Hotel de Ville, in Paris, France, November 5, 2025. REUTERS/Sarah Meyssonnier/File Photo
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Paris Court Rejects Bid to Suspend Shein Platform in France

A customer holds shopping bags with a Shein logo in the first physical space of Chinese online fast-fashion retailer Shein on the day of its opening inside the Le BHV Marais department store, the Bazar de l'Hotel de Ville, in Paris, France, November 5, 2025. REUTERS/Sarah Meyssonnier/File Photo
A customer holds shopping bags with a Shein logo in the first physical space of Chinese online fast-fashion retailer Shein on the day of its opening inside the Le BHV Marais department store, the Bazar de l'Hotel de Ville, in Paris, France, November 5, 2025. REUTERS/Sarah Meyssonnier/File Photo

A Paris court on Friday rejected a government request to suspend Chinese fast-fashion platform Shein in France after authorities found illegal weapons and child-like sex dolls for sale on the fast-fashion giant’s website.

Shein welcomed the decision, saying it remains committed to strengthening its control processes in cooperation with French authorities.

“Our priority remains protecting French consumers and ensuring compliance with local laws and regulations," the company said in an emailed statement to The Associated Press.

The controversy dates to early November, when France’s consumer watchdog and Finance Ministry moved toward suspending Shein’s online marketplace after authorities said they had found childlike sex dolls and prohibited “Class A” weapons listed for sale, even as the company opened its first permanent store in Paris.

French authorities gave Shein hours to remove the items. The company responded by banning the products and largely shutting down third-party marketplace listings in France.

French officials have also asked the European Commission to examine how illegal products were able to appear on the platform under EU rules governing large online intermediaries.