Must Read: Nike Reports Strong Quarterly Earnings, Versace Will Remain a Luxury Brand Post-Sale

nike beat earnings - Must Read: Nike Reports Strong Quarterly Earnings, Versace Will Remain a Luxury Brand Post-Sale

Photo: Staff/Getty Images 

These are the stories making headlines in fashion on Wednesday.

Nike reports strong quarterly earnings 
On Tuesday, Nike revealed that it beat estimates for first-quarter revenue as new launches of footwear and apparel caused sales to climb in North America. Revenue increased by 9.7 percent to $9.95 billion, edging past analysts’ estimates of $9.94 billion. {Business of Fashion

Versace will remain a luxury brand post-sale
Versace’s acquisition by Capri Holdings — formerly Michael Kors Holdings — does not mean that the Italian label is pivoting towards a more accessible positioning. In fact, Donatella Versace wants to make it clear that “Versace is a luxury brand, and it’s going to stay a luxury brand.” In an interview with Business of Fashion, Donatella and Capri CEO John Idol emphasized that they’re going to take Versace in the opposite direction of Michael Kors by bringing the Milan-based brand even further upmarket. {Business of Fashion}

The dark side of working in fashion journalism 
Christina Binkley, The Wall Street Journal‘s fashion and style columnist, opened up to Glossy about her experiences reporting on fashion. In the interview, the esteemed journalist discusses getting banned from shows and the issue with fashion houses considering themselves to be “collaborators” with publications, rather than receiving objective editorial coverage from them. {Glossy

The new president of Hearst Magazines shares his vision for the publishing giant 
Troy Young, the new president of Hearst Magazines, was previously the president of the publisher’s digital division, where he successfully rebooted Hearst’s digital strategy. Now tasked with the not-so-glossy future of print magazines, Young told Business of Fashion that he hopes to find success by encouraging his titles to produce quality content: “If you want to sell a product to a consumer you have to understand what motivates them and what the transformational promise of the content is,” he said. “If you have purpose, you have a loyalty.” {Business of Fashion

Versace’s deal with the U.S. fashion group will create jobs in Italy 
Following news of Versace’s purchase, Donatella Versace told various Italian newspapers that the sale “will create new jobs” and “will be a stimulus for economic development in the territories where we work.” She also added that the deal showed how desirable Italian brands are to foreign investors: “In the last year Versace has been approached by many people,” Versace told Corriere della Sera, a daily newspaper published in Milan. “French, American … but no Italians. It was not us who refused to take part in an Italian group.” {Reuters

How Lululemon plans to stay on top of the activewear industry 
Faced with competition from countless activewear startups, Lululemon has developed technology that identifies and measures each person’s unique pattern of movement. By using a treadmill, called the “Signature Movement Experience,” store representatives will be able to analyze customers’ own pattern of motion so they can then provide highly customized product recommendations. The company hopes that its new technology will help it stay on top of the crowded activewear industry. {Fast Company

How Instagram went from a photo-sharing platform to a cultural powerhouse
Instagram’s co-founders resigned on Monday, so The New York Times decided to evaluate how the app has changed since its humble beginnings in 2010. What was once a simple photo-sharing platform has become a cultural powerhouse, with the ability to turn everyday users into paid influencers and the capacity to drive more attention to news than a magazine cover.  {The New York Times

Grace Coddington’s talk show airs first episode 
Grace Coddington‘s six-episode talk show series airs Wednesday, and it kicks off with the legendary creative director speaking with Ansel Elgort at Mr. Chow. The series will stream on IMG’s fashion channel and will feature prominent fashion figures like Nicolas Ghesquière, Sofia Coppola and more. You can watch the official trailer below. {Fashionista inbox} 

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