Must Read: Balmain Is Turning Its Men’s Spring 2020 Runway Show Into a Music Festival, How Relevant Are the CFDA Fashion Awards?

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These are the stories making headlines in fashion on Tuesday.

Balmain is turning its Men’s Spring 2020 runway show into an all-night music festival
Olivier Rousteing is throwing his very own music festival in Paris on a 384-year-old garden on June 21. The all-night event will kick off with an outdoor runway presentation of Balmain Men’s Spring 2020 collection, followed by a series of live concerts curated by Rousteing. The brand will give out 1,500 free tickets on June 7. Proceeds from the sales of limited-edition Balmain festival merchandise, and food and drink offerings onsite, as well as guests’ donations, will support (RED)’s fight to end AIDS. {Fashionista inbox}

How relevant are the CFDA Fashion Awards?
“New York fashion – American fashion in general – is in the midst of an identity crisis,” writes Vanessa Friedman for The New York Times. “The old guard is treading water, and a new generation is coming to the fore, wrestling with entirely different ideas about what role fashion plays in the world.” But those ideas were not addressed at Monday evening’s CFDA Fashion Awards, nor were topics that have the most urgency, such as gender fluidity, race or women’s rights. “The CFDA’s also avoided controversy,” Friedman writes. “And risk,” and therefore lost relevance. {The New York Times}

Why corporate-level branding has become popular among fashion conglomerates
Kering and LVMH used to let their brands do most of the talking, but in the age of the internet, where consumers increasingly demand transparency, these fashion groups have turned to corporate-level branding to communicate key messages about their values. These conglomerates have also become more vocal about their company-wide initiatives as a way to woo potential employees, because workplace culture is more important to younger generations entering the workforce. {Business of Fashion}

Prada to launch global innovation center in Milan
Prada is partnering with Startupbootcamp, a leading European network of corporate-backed accelerators helping startups to develop their businesses globally, to launch a global innovation center in Milan dedicated to the fashion industry. As part of the three-year collaboration, the Italian brand will select and support 30 innovative startups who offer advanced technological solutions that address market challenges. {}

More drama at Out magazine
The future of is not looking too bright: Editor-in-Chief Phillip Picardi is said to be on his way out, along with the rest of his staff. Freelancers and vendors have reportedly not received any compensation for their contributions to the June/July issue, and if operations continue as they are, WWD speculates that the end of summer could coincide with the end of Out‘s print edition. {}

The RealReal unveils IPO plans
The RealReal has become one of the leading players in the fast-growing online market for secondhand luxury, moving $711 million worth of products from high-end brands, but it is still not profitable: Losses topped $75 million last year, a 45% increase from 2017. In going public, the company is hoping that scale will put it back on a path to profitability, and help it to become the default choice for consumers looking to buy or sell used luxury goods. {Business of Fashion}

Louis Vuitton to exhibit most memorable collaborations in L.A.
Having worked with a number of world-renowned artists, from Takashi Murakami to Jeff Koons, Louis Vuitton has called on six new contemporary artists – Sam Falls, Urs Fischer, Nicholas Hlobo, Alex Israel, Tschabalala Self and Jonas Wood – to redesign its Capucines bag. The collection will go on sale June 25, and the bags will be displayed, along with over 180 archival items from the brand’s most memorable collaborations, as a part of the “Louis Vuitton X” exhibition running from June 27 to Sept. 15 in Los Angeles. {}

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