What You May Have Missed This Week

LONDON, United Kingdom — On Friday morning, the world awoke to the news that the British public had voted to exit the European Union, unleashing market turmoil, political uncertainty and untold damage to the global fashion industry. It was a sad day for fashion on a more human level as well. "Beyond the political process, it raises the question of European identity and European values of international openness and diversity. They also are core values of the fashion industry, which should not only stick to them but encourage and promote them more than ever," said Pascal Morand, executive president of the French fashion Fédération.

But even before the Brexit result, it was a busy news week for fashion. Sources revealed to Reuters that Dior is set to appoint Valentino's Maria Grazia Chiuri as creative director after its couture show in July. It emerged that Hedi Slimane is suing Kering over his non-compete agreement. And Balmain has been snapped up by Mayhoola Investments — the Qatari owner of Valentino widely believed to be a vehicle for Sheikha Mozah and other members of the country's ruling family — for around €500 million or about 14 times Balmain's EBITDA. Is the price too high?

1. Britain Votes to Exit EU, Pound Plunges and Cameron Resigns

Illustration by BoF

Britain has voted to exit the 28-nation bloc, unleashing market turmoil, political uncertainty and untold damage to the global fashion industry.

2. Dior to Appoint Valentino's Maria Grazia Chiuri as Creative Head, Say Sources

Maria Grazia Chiuri | Source: Indigital

Christian Dior is set to announce after its couture show in early July that Maria Grazia Chiuri is joining the French fashion house from Italy's Valentino, two people familiar with the matter said.

3. Why Would Mayhoola Pay Such a High Price for Balmain?

Balmain Autumn/Winter 2016 | Source: InDigital

Mayhoola has acquired Balmain for around €500 million, at a multiple reported to be around 14 times EBITDA. Is the price justifiable?

4. The Art of Disclosure: Fashion's Influence Economy and the FTC

Digital influencers on Instagram | Source: Instagram/@lauramercier, @nicolettemason, @songofstyle, @manrepeller, @chrisellelim, @sincerelyjules

As the importance of native advertising continues to grow, are brands and digital influencers coming clean with consumers about the deals that power fashion’s influence economy?

5. JD.com, Stepping Out of Alibaba's Shadow?

Illustration by BoF

Haoyu Shen, chief executive of JD.com’s JD Mall unit, reveals how the Chinese online giant plans to take on Alibaba’s Tmall and seize more of the country’s fashion e-commerce market.

6. Christopher Kane's Next Milestone: E-Commerce